About Daryl

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So far Daryl has created 228 blog entries.

Can I incorporate a company and get the company to apply for an Employment Pass for someone?

In order to obtain an employment pass, a foreigner will need to get the prospective employer to apply for an Employment Pass (EP) for him or her. I will then ask the person who posed this question whether the primary motivation for setting up a new company is to obtain an EP. If so, then [...]

By |2021-06-14T14:20:28+08:00June 14th, 2021|Employment and Immigration|

Who are disqualified directors and what should be done?

In short, disqualified directors cannot hold director positions in local or foreign companies.   Bankruptcy    Disqualification under Section 148 of the Singapore Companies Act (CAP. 50) An individual who is declared bankrupt by a Singapore or foreign court cannot remain as or be appointed as a director of any company unless a Court Order [...]

By |2021-06-10T13:40:09+08:00June 10th, 2021|Running a Company|

COVID-19 Support: Longer Instalment Plans for Corporate Income Tax 2021

Due to the impact of the COVID-19 pandemic, the Inland Revenue Authority (IRAS) is supporting businesses through a range of measures. One of them is allowing companies to arrange for a longer instalment plan when paying for their corporate taxes. If the company is facing difficulties in paying taxes, it is the responsibility of the [...]

Criteria for Employment Pass

An Employment Pass (EP) allows the pass holder to remain and work in Singapore. Here is a brief overview of the Employment Pass and what are the criteria required. Foreigners who are applying for an EP must fulfil the following criteria: Have a job offer in Singapore. There must be a written offer by a [...]

By |2021-06-07T15:17:10+08:00June 7th, 2021|Employment and Immigration|

How to determine the market value of a company

There are times where the shareholders may decide to sell off their shares of the company. There may be an acquisition made on a company or the shareholders of the company may decide to cash out of their investment in a company. If the shares of the company are listed on a stock exchange, the [...]

By |2021-06-03T13:23:19+08:00June 3rd, 2021|Running a Company|

How do I change my SSIC code?

Every Singapore company has at least one SSIC code. SSIC stands for Singapore Standard Industrial Classification. At times, companies may decide to change their business activity. For example, a company may be a physical retail store and because of certain circumstances, they might change to doing something else. Either a wholesaler or an online store. [...]

By |2021-05-28T13:52:27+08:00May 31st, 2021|Questions and Answers|

How important is it to have an accurate SSIC code?

Every company in Singapore will have an SSIC code. It is short for Singapore Standard Industrial Classification. It is important to have an accurate SSIC code. The SSIC code should match the company's business activities. Every Singapore company can have up to two SSIC codes. Typically, most companies should focus on the first SSIC code. [...]

By |2021-05-28T13:06:17+08:00May 28th, 2021|Questions and Answers|

Notification to Declare Onsite Manpower Details

This is an announcement that all company officers should have received via email. We are reproducing this email to help get this message out to all companies. Dear Sir / Madam, 1. As announced under Phase 2 (Heightened Alert) on 16 May 2021, work-from-home will be the default at workplaces. Employers must ensure that employees [...]

By |2021-05-25T13:26:13+08:00May 25th, 2021|Latest News and Announcements|

Why engage Singapore Secretary Services to handle your company’s accounting matters?

For companies, there are 3 options when it comes to handling your company's accounts. You do it yourself You hire someone in the company to do it You outsource your accounting and bookkeeping matters to an external company (Like us!)   Why some cannot just do it themselves? Bookkeeping is not that difficult but it [...]

By |2021-05-25T13:23:38+08:00May 25th, 2021|Accounting Bookkeeping Tax and XBRL|

Avoiding double taxation in Singapore

Double taxation is when the same taxpayer, for the purpose of this article we are referring is taxed twice by 2 countries. The income is first taxed at the source i.e. the country where the income was generated and also the country of residence where the income is repatriated to. So for example, a Singapore [...]

By |2021-05-04T14:49:45+08:00May 4th, 2021|Accounting Bookkeeping Tax and XBRL|
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