Getting Your Documents Certified in Singapore Doesn’t Have to Be Complicated If you’ve ever had to open a bank account, apply for a visa, or submit documents to a government agency, you’ve probably come across the term “Certified True Copy” or CTC for short. It sounds formal and intimidating, but it really isn’t. At its…
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Learn How To Recognise The Seven Red Flags Of A Business Running a business in Singapore is a thrilling ride. One moment, you’re closing deals; the next, you’re chasing suppliers, handling staff, or preparing an IRAS filing at midnight. Many SME owners push through day after day, telling themselves everything is “okay”. But sometimes, the…
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Smarter Accounting, Greater Freedom – Manage Your Business Anytime with Xero Running a business in Singapore can feel like juggling too many spinning plates. One moment you’re closing a sale, the next you’re reconciling receipts, approving payroll, or answering an email from IRAS.It’s exciting but exhausting. And somewhere between chasing growth and staying compliant, the…
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Why Singapore SMEs Are Outsourcing Accounting: Avoid IRAS Headaches & Focus on Growth Running a business in Singapore is no small feat. Some days you’re closing sales, other days you’re chasing suppliers, and once in a while you even end up fixing the office WiFi because no one else knows how. It’s exciting, sure but…
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Trust, Clarity, and Growth – The Real Value Behind Transparent Service Fees in Singapore In Singapore’s fast-moving business world, transparency isn’t just nice to have, it’s everything. Whether you’re a start-up founder or a seasoned business owner, you’ve probably faced the same frustration: unclear service fees, vague promises, and invoices that somehow end up being…
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Introduction: The Hidden Cost of Doing It All Yourself Running a business in Singapore is no easy ride. Between winning clients, managing staff, and handling suppliers, many SME owners end up working late nights just to keep things afloat. And then there are the compliance matters – IRAS deadlines, CPF contributions, ACRA filings and GST…
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New requirements under the Corporate Registers On 4 October 2022, Singapore Accounting and Corporate Regulatory Authority (ACRA) implemented new requirements for strengthening its corporate governance regime supporting Singapore’s commitment to combating money laundering, terrorism financing, and other threats to financial system integrity. These updates were made following the passage of the Corporate Registers (Miscellaneous Amendments)…
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The Costly Tax Mistakes Singapore SMEs Make in the New Digital Age You know how business in Singapore has changed these past few years. Last time, you open a shop, serve customers, settle accounts straightforward. Now? Everyone is selling on Shopee, Shopify, TikTok Shop, Instagram live, even taking crypto payments. Good news: more ways to…
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The Truth About DIY Accounting in Singapore SMEs: Why It Costs More Than You Think When you first started your business, maybe you thought, “Save money lah, I’ll just handle the numbers myself.” Quite normal, right? After all, you hustled hard, every cent counts. Why spend on accounting, payroll outsourcing, or tax compliance services when…
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The Real Story Behind Company Compliance in Singapore Running a company in Singapore is rewarding, but it comes with serious responsibilities. Under the Companies Act 1967 (Cap 50), every Singapore-registered business must meet strict requirements set by ACRA. Whether you are a new startup or an established SME, compliance is not just about avoiding penalties…
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GST to increase over the next two years In Singapore, the goods and services tax (GST) rate will increase from 7% to 9% in 2 stages: From 1 January 2023 – 7% to 8% From 1 January 2024 – 8% to 9% The initial S$6 billion Assurance Package, which was announced in the year 2020,…
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Singapore is one of the most business-friendly economy in the world Singapore has one of the most stable political environments in Southeast Asia, offering a strong sense of security and comfort for businesses and investors. It offers a wide variety of dining and entertainment options, world-class education systems, and quality health care providers that make it…
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Interest payments Any interest paid to a non-resident entity in connection with a loan or indebtedness is subject to withholding tax. There are several examples of interest, including interest on overdue trade accounts and interest on credit terms granted by suppliers. Interest on late payments of goods is taxed even if the interest is treated…
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Transfer Pricing in Singapore – How Does It Work When you enter into a commercial contract with your subsidiary companies, many business owners want to enter at a price that is lower than the market rate. This will enable them to make sure that their contract is safe from the state’s eyes and, at the same…
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Guidance to carry out Financial Reporting Duties for Singapore Companies Strong and vibrant markets are dependent on high-quality financial information. Financial statements are becoming increasingly important as investors, suppliers, financial institutions, customers, company directors, and corporate executives seek to better understand the business. In recent years, the business environment has also become more complex and…
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Singapore Companies must file Annual Returns All companies, including public corporations, not-for-profit companies, and private companies, by Singapore law, must file annual returns (ARs) once every year. Remember that an Annual Returns is not a financial document. Instead, it’s an electronic record of publicly accessible information about your company at ACRA. That information, includes your…
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