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So far Daryl has created 217 blog entries.

Amendments to the constitution that alter the objects of the company

Amending the company constitution in Singapore is a significant event as it is essentially amending the rulebook of the company. There are two types of alterations that are made: Amendments to the constitution that do not alter the objects of the company Amendments to the constitution that alter the objects of the company The word [...]

By |2021-04-08T17:48:27+08:00April 8th, 2021|Running a Company|

Amendments to the constitution that do not alter the objects of the company

Amending the company constitution in Singapore is a significant event as it is essentially amending the rulebook of the company. There are two types of alterations that are made: Amendments to the constitution that do not alter the objects of the company Amendments to the constitution that alter the objects of the company The word [...]

By |2021-04-07T12:14:53+08:00April 7th, 2021|Running a Company|

A guide to Bookkeeping Basics

For a start, it is important to note that bookkeeping is not the same as accounting. Bookkeeping is the first step to doing proper accounting. The main concept of bookkeeping is the tracking of a general ledger. A bookkeeper will record monies that come in and out of a company in a ledger. A ledger [...]

By |2021-04-05T14:17:49+08:00April 5th, 2021|Accounting Bookkeeping Tax and XBRL|

A guide to Singapore Personal Income Taxes

The personal income tax rates in Singapore are progressive. Here is a guide to which income types are taxable and which are not. Here are some key features of Singapore's personal income tax system. Singapore's personal income tax system has a progressive tax structure for residents. The tax rates start at 0% and tops out [...]

By |2021-03-31T17:55:36+08:00March 31st, 2021|Accounting Bookkeeping Tax and XBRL|

Market Readiness Assistance (MRA) Grant

The Market Readiness Assistance (MRA) provides a support level of up to 70% up to 31st March 2023. As announced at Budget 2021, the maximum support level of up to 80% will be until 31st March 2022. MRA will be enhanced to include Trace Credit Insurance as a supportable area under the overseas market set-up [...]

By |2021-03-30T12:58:22+08:00March 30th, 2021|Running a Company|

Frequently asked questions about the Non-Public Register of Registrable Controllers

With effect from 30th July 2020, Companies and Limited Liability Partnerships (LLPs) are required to lodge the Non-Public Register of Registrable Controllers (RORC) information with ACRA. This is on top of them maintaining their own RORC. The process was initially started in mid-2020 but due to technical errors, the registrar, ACRA, delayed the e-service. On [...]

By |2021-03-29T12:25:41+08:00March 29th, 2021|Running a Company|

Should I register a private limited as a freelancer?

Freelancers typically do not have a company under their name. We are assuming that the person who sent us this question does not have one under her name. This person has been a freelancer for a couple of years and is contemplating setting up a private limited as she wants to get involved in larger [...]

By |2021-03-26T16:54:08+08:00March 26th, 2021|Questions and Answers, Uncategorized|

What is a dividend voucher?

A company may wish to return its profits in the form of dividends to its shareholders. To declare dividends, the following documents should be prepared. A directors' resolution There should be meeting minutes or a form of written declaration where the directors of the company had voted for and approved that dividends are to be [...]

By |2021-03-24T16:33:34+08:00March 24th, 2021|What Is...|

What are the consequences of not paying my taxes?

The Inland Revenue Authority of Singapore (IRAS) imposes penalties on individuals and companies who do not pay their taxes or delay paying their taxes (i.e. pay their taxes late). Taxes should be paid one month from the Notice of Assessment (NOA) before the due date.   For companies The penalties that can be levied on [...]

By |2021-03-22T12:50:13+08:00March 22nd, 2021|Accounting Bookkeeping Tax and XBRL|

From 1st May 2021, dependant pass holders will need to obtain work passes to work in Singapore

From 1st May 2021, family members of foreigners working in Singapore who hold dependant's passes (DP) will need to have a valid work pass to work in Singapore. Previously, they only needed to apply to the Ministry of Manpower (MOM) for a Letter of Consent (LOC). The LOC expiry date would typically match the expiry [...]

By |2021-03-18T12:27:31+08:00March 18th, 2021|Employment and Immigration|
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