Striking Off a Company in Singapore: A Step-by-Step Guide
Striking Off a Company in Singapore: A Step-by-Step Guide What Does Striking Off a Company Mean? Striking off a company means officially removing it from the Accounting and Corporate Regulatory Authority (ACRA) register. Once approved, the company ceases to exist legally. Eligibility Criteria for Striking Off a Company To apply for striking off, a company […]
Understanding XBRL Filing for your Company in Singapore
XBRL (eXtensible Business Reporting Language) is a structured format used for the electronic exchange of financial information. In Singapore, the Accounting and Corporate Regulatory Authority (ACRA) enforces XBRL filing regulations, making it mandatory for most incorporated companies to submit financial statements in this format. This standardized reporting system facilitates easier comparison of financial information across […]
What is the Auto-Inclusion Scheme (AIS) and how to Simplify your tax filing process for employees with AIS
What is the Auto-Inclusion Scheme (AIS) and how to Simplify your tax filing process for employees with AIS The Auto-Inclusion Scheme (AIS) is a key initiative by the Inland Revenue Authority of Singapore (IRAS) designed to simplify the tax reporting process for employers and employees. Since the Year of Assessment (YA) 2021, it has been […]
Do I Need to Register GST for my Company in Singapore?
Do I Need to Register GST for my Company in Singapore? Goods and Services Tax (GST) is a consumption tax levied on the supply of goods and services in Singapore. Businesses that meet certain criteria are required to register for GST and charge it on their taxable supplies. In this guide, we will provide a […]
Setting up a Company in Singapore
Setting up a Company in Singapore Thinking of starting a business in Singapore? Great choice! Recognized as one of the world’s most business-friendly countries, Singapore offers a seamless registration process, a robust economy, and strong government support for entrepreneurs. However, registering a company requires compliance with strict legal procedures. In this guide, we’ll walk you […]
Is It Mandatory for My Company to File Annual Return?
Is It Mandatory for My Company to File Annual Return? What Is an Annual Return? An annual return (AR) is a mandatory report filed with the Accounting and Corporate Regulatory Authority (ACRA) . It provides critical information about your company, such as its officers, registered address, and financial details. Filing ensures your company remains in […]
Everything You Need to Know About Annual General Meeting
Everything You Need to Know About Annual General Meeting 1. Introduction An Annual General Meeting (AGM) serves as a cornerstone of corporate governance, providing a structured platform for shareholders and company executives to discuss the organization’s performance, future strategies, and critical decision-making processes. AGMs are not merely formalities; they are legally mandated events designed to […]
Xero vs. QuickBooks: Which is Better Accounting Software?
Xero vs. QuickBooks: Which is Better Accounting Software? Xero and QuickBooks are two of the most popular accounting software options for small and medium-sized businesses. Both offer powerful tools to streamline financial management, but which is better for your business? In this detailed comparison, we’ll explore their features, pricing, ease of use, and more to […]
Comprehensive Guide to Open a Corporate Bank Account in Singapore
Comprehensive Guide to Open a Corporate Bank Account in Singapore Just registered a company in Singapore? The process does not end at company incorporation – in fact, there are several post-incorporation tasks that you also need to check off your list. Opening a bank account is one of the most important activities that you must […]
What are examples of SMEs?
What are examples of SMEs? Small and Medium-Sized Enterprises (SMEs) form the cornerstone of many economies worldwide, playing an essential role in driving innovation, creating jobs, and fuelling economic expansion. But what are examples of SMEs? – Definitions of Small to Midsized Enterprises can differ based on location and industry; however, commonly used classification […]