When Is The Right Time To Hire An Accountant?
Challenges you face As a small-medium enterprise owner, you will face many challenges during daily business operations. One of the common challenges that you will face is multi-tasking. You may often find yourself attempting to do multiple tasks yourself in order to save on…
How does a company pay dividends in Singapore
We hear so much of this term dividends but we seldom discuss the rules and implications associated with it. As most will know, it is basically profit (or part of it) that a company distributes to its owner(s) at the end of or during a company’s financial year. What are the types…
Singapore Companies Filing Requirements
Every year, companies in Singapore need to file with two main governing bodies, namely the Accounting and Corporate Regulatory Authority (ACRA) and the Inland Revenue Authority of Singapore (IRAS). The Singapore companies filing requirements consist of three components.…
Audit Exemption For Singapore Private Limited Companies 2021
Legislated in Singapore Companies Act, before filing with the Accounting and Corporate Regulatory Authority (ACRA), all private limited companies in Singapore are to prepare their annual financial statements and audit them. However, in certain cases, you can get an audit…
What Is Estimated Chargeable Income (ECI)?
What is Estimated Chargeable Income (ECI)? Estimated chargeable income (ECI) is an estimate of the company’s taxable income after deducting eligible expenses. Starting from YA 2020, all companies are required to e-file their estimated chargeable income (ECI). They can do this…
File Your Corporate Tax via The New Form C-S (Lite)
The Inland Revenue Authority of Singapore (IRAS) has come up with an easier and new e-filing measure from Year of Assessment (YA) 2020, known as Form C-S (Lite). Companies with annual revenue of S$200,000 or less can make use of this simplified income tax return filing. The…
Tax Deductible Expenses For Your Singapore Company
In the course of running the business, there are certain tax-deductible expenses incurred that you can offset against your company’s taxable income. Of course, having said that, not all business expenses are tax-deductible. It is essential that you or whoever is in charge of the…
How To Reduce Corporate Tax Bills With These Tax Reliefs
The corporate tax filing deadline is around the corner. The deadline for filing your corporate tax is by 15th December 2020. Do you know that there are some tax reliefs that you can make use of to reduce the tax payable? Here are some of them. Tax Exemption Scheme For New…
Do I have to file corporate tax for YA 2020?
December is usually the time to file corporate tax for business owners. The filing deadline for corporate tax is the 15th of December 2020 for the Year of Assessment 2020 (YA2020). Hard copy filing is no longer available, thus all corporate taxes have to be e-filed. There may be…