Singapore Jobs Support Scheme extended till September 2021, with more than SGD 3 billion payouts from 30 March 2021 During the COVID-19 economic instability, the JSS offers wage assistance to Singapore businesses to retain local employees, Singapore Citizens and Permanent Residents. This JSS announced in the Budget 2020 on 18 February 2020, is intended to…
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Enhanced COVID-19 Relief Measures On 16 February 2021, Mr Heng Swee Keat delivered the 2021 Budget Statement. He announced various schemes to help Singaporeans, jobs, and companies. There is a shift from broad-based assistance to more specific support especially those in the hardest-hit industries. Focus on Creating More Jobs The focus has been shifted from…
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Outsourcing to save money and precious time In Singapore, we offer you and your business entity transparent and effective Learn More and accounting services. You can concentrate on your business matters through our outsourced accounting services. Our proficient and passionate team deal with a menu of mandatory requirements throughout your financial year. That includes: Payroll processing…
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Singapore Government uses BizFile+, a business filing electronic portal of ACRA. This is made available so that businesses can interact with other government agencies. The key purpose of BizFile+ is to provide an easy way of submitting statutory filings online to ACRA. For most Singapore entities, the company secretary has access to this e-portal to…
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What is AGM? Annual General Meeting (AGM) refers to how a company presents the SFRS financial statements to the members or shareholders. During this point, the shareholders have the right to ask questions about the business’s health. Therefore, an AGM is important as it is an effective opportunity to address the company’s concerns right on…
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Cloud Accounting Gives You Real-time Data About Your Business As an entrepreneur, it is natural that you always want to reap success after success with your business. With that, you want to have access to the financials real-time to make better business decisions. And, you must read on to understand the Cloud Accounting Services for…
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A company secretary in Singapore has the following duties and responsibilities: 1. ACRA Compliance Alert and Reminders A company secretary informs you of the filing deadlines as well as ACRA’s annual compliance matters in a very timely fashion. 2. Company Seal A company secretary makes sure the safe custody and appropriate use of the company…
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Things You Should Know about Singapore Financial Reporting Standards (SFRS) As a business owner in Singapore, you know that accounting for your business transactions must be precise. However, you might not understand why accounting standards are such a huge deal. Only if you are the only individual seeing your business accounts, then they wouldn’t be.…
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Compulsory to file Registers Of Registrable Controllers information With effect from 30 July 2020, the Accounting and Corporate Regulatory Authority (ACRA) requires all companies, foreign companies and limited liability partnerships (LLPs) to lodge the Registers Of Registrable Controllers (RORC) information. This is part of ACRA’s ongoing efforts to uphold Singapore’s reputation as a trusted financial…
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Singapore Companies Must Report Business’ Ownership All Company secretaries must submit the Register for Registrable Controllers to the ACRA. For the past years, ACRA requires all companies operating in Singapore to maintain this register and update it on a regular basis. For those business owners who are not aware of the requisites of the Register…
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Guide to Singapore Corporate Tax Filing Procedures A Singapore corporate tax regime is attractive, with low, transparent tax rate and efficient reporting & filing system. Below is a short overview of Singapore Learn More and the process to pay the company’s taxes. Who Should Pay Singapore Corporate Taxes? All Singapore businesses must pay tax…
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Extension of Compliance Filing Deadline For Singapore Companies On 4 April 2020, local businesses and taxpayers feel relieved when Singapore regulatory bodies, IRAS and ACRA, announced the extension of deadlines for tax filing, Annual Returns (AR) filing and holding of Annual General Meetings (AGM) to support Singapore businesses during this COVID-19 pandemic. IRAS – Extension of Deadline…
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Solidarity Budget: Additional SGD 5.1 billion to support Singaporeans & Businesses On 6 April 2020, DPM Finance Minister Heng Swee Keat announced another support package, known as the Solidarity Budget. The Solidarity Budget enhances the support packages previously introduced under Budget 2020. The earlier supplementary, Resilience Budget, addresses the rapidly evolving pandemic and its impact on the economy…
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S$48 billion Resilience Budget to support Singaporeans & Businesses On 26 March 2020, three weeks after the Minister for Finance, Mr Heng Swee Keat has delivered his Budget 2020 speech, he announced the Resilience Budget. This supplementary budget outlines a robust financial plan to address the challenges presented by the COVID-19 downturn. Key points under…
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Investing in Cloud Accounting Software is Beneficial To Your Business To stay competitive in the digital era, businesses are searching for ways to ensure success in these aspects such as management, marketing, finances, and more. Investing in innovative and effective tools like cloud accounting software is a brilliant business move. Accounting software works by automating…
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Entrepreneur’s Guide to Mastering Small Business Finance Large companies are operating with huge capital. Small businesses in Singapore, yet, thrive with a limited amount of funds. Proper management of finances at times of economic downturn is vital to surviving. Business finance mastery allows small businesses in the allocation and use of funds. This also leads to…
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