So you have successfully incorporated your company in Singapore, but when it comes to legal matters associated with your start-up business, it is wise that your proceed with caution. This blog article aims to lighten the load off your shoulders by highlighting some important legal tips you should know and keep in mind.
ACRA’s legislative amendments targeted to be implemented by the first half of 2018.
Aligning corporate compliance timelines to the Financial Year End (FYE). The timelines for holding Annual General Meetings (AGMs) and Annual Returns (AR) filing will be aligned with the company’s FYE. This will provide a greater clarity and improve the companies’ compliance requirements as stated in the Companies Act.
Singapore's Budget Day and its accompanying Budget and Committee of Supply debates has come and go. Our president has also approve the budget. Now let us get you up to speed with some of the tax changes and measures introduced.
The success of your start-up is more than just having a good idea. There are other contributing factors that affects the success and more importantly the sustainability of your business.
As Thomas Edison once said, “Genius is 1% inspiration and 99% perspiration.”
This articles will give you an overview of the other ingredients contributing to the success of your business.
Good accounts if prepared right can reveal not only the financial position of the company, but also identify areas where cash is tied-up, which products/services are profitable and which isn’t, and where there is room for improvement. The earlier any SMEs get hold of this information, the better.
Whereas a good audit will be able to harness the hidden value of the accounts, such that it will be able to uncover the most costly accounting mistakes, at the same time examines several aspects of the business such as the environment it operates in, its risks and its operational deficiencies.
Budget 2017 announcement was one of the most highly anticipated events for business owners in Singapore, especially SME owners, who will look out for measures to improve their business. Businesses will usually receive some near-term support to weather the current economic slowdown, while others will benefit from additional measures which aim to assist them innovate, scale-up and internationalised.
This blog post will share with you some of the measure that stood out that may benefit you.
Small and Medium-sized Enterprises (SMEs) have more marketing options than they have had ever before. Low barriers on marketing automation and social media platforms present massive opportunities for smaller businesses, at the same time, it also means increased complexity and more channels to keep track off. This could potentially be a problem for smaller marketing teams which can be easily overwhelmed.
Singapore is facing sluggish GDP growth in the last few years. Although it puts added pressure on entrepreneurs to sustain their business growth in such uncertain times, the prospects of survival for small businesses may be least affected, if they adopt some tactics to overcome the situation.
last updated: 07/11/2017
There are three main tax obligations that companies will have to take note of, and they are as follows:
1. Filing of Estimated Chargeable Income (ECI)
2. Filing of Goods and Services Tax (GST)
3. Corporate Income Tax Returns (Form C/C-S)
Where the deadlines of ECI and GST is dependent on the individual company’s financial year end or accounting period, Form C/C-S is to be submitted by the same due date applicable to all companies as this is computed based on the Year of Assessment (“YA”), rather than the company’s own financial year end.
Recently Prime Minister Lee Hsien Loong, in his National Day Rally (NDR) speech highlighted disruptions as the key challenge among the economic issues faced in Singapore and urged businesses to transform to adapt to sluggish economic growth and technological disruptions. He further emphasize how this can be achieved through collaborations between the government agencies and businesses to overcome such challenges.