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So far Daryl has created 240 blog entries.

How to correct an error in XBRL statements that have been filed with ACRA

There are a few common XBRL errors that companies make from time to time. These errors are and not limited to the following: Incomplete data Financial statements that are tabled at the AGM does not match the data prepared in XBRL format Wrongly tagged elements in the XBRL prepared If you have detected an error [...]

By |2021-09-17T11:47:50+08:00September 17th, 2021|Accounting Bookkeeping Tax and XBRL|

How can I pay for the shares of a company?

Payment for shares can be in cash or non-cash consideration. As shares are issued to raise capital for the company, the company usually has remedies in its constitution. If we refer to the Model Constitution, the company has the various remedies on shares that are not paid up: It has a lien on the shares [...]

By |2021-08-30T15:27:17+08:00August 30th, 2021|Questions and Answers|

Why you should consider a Private Limited Company structure over an LLP

A Company and a Limited Liability Partnership (LLP) are both incorporated entities which mean that they have a separate legal personality from their ownership. We encounter a lot of queries about which business structure is best recommended for people looking to set up business structures and more often than not, we usually gravitate and recommend [...]

By |2021-08-23T14:43:50+08:00August 19th, 2021|Running a Company|

Segregation of powers between shareholders and directors

We have seen cases whereby clients have confused the roles of shareholders and directors. In this article, we will be explaining the roles and powers of the shareholders and the directors. The shareholders are the owners of the company. The directors, on the other hand, are the management of the company. Thus the management powers [...]

By |2021-08-11T15:23:34+08:00August 11th, 2021|Running a Company|

What is the 2-tier Penalty Framework?

The 2-tier penalty framework applies to the filing of annual returns and annual declarations by Singapore incorporated companies, Variable Capital Companies (VCCs) and Limited Liability Partnerships (LLPs). It was announced on the 30th of December 2020 and takes effect on the 30th of April 2021. Under this 2-tier penalty framework, Singapore-incorporated companies, VCCs and LLPs [...]

By |2021-06-22T13:36:42+08:00June 23rd, 2021|Questions and Answers|
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