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So far Daryl has created 156 blog entries.

How fast will it take to incorporate a Singapore company?

If you are a local or a foreigner looking to incorporate a company in Singapore, you may engage an ACRA registered filing agent like us. Firstly, you will need to fill in the related incorporation documents which can be found at this link: https://www.singaporesecretaryservices.com/company-registration-documents/ You will need the following forms: Incorporation of New Company Form [...]

By |2020-06-06T10:57:27+08:00June 4th, 2020|Questions and Answers|0 Comments

Expenses Incurred From Working At Home Qualify For Tax Deductions

In an article by the Business Times on the 2nd of June 2020, the Inland Revenue Authority of Singapore (IRAS) informed the publisher that expenses incurred from working from home can be deducted against employment income. Here are the qualifying criteria: The expenses must be incurred while carrying out duties; and These expenses must not [...]

By |2020-06-02T11:20:21+08:00June 2nd, 2020|Accounting Bookkeeping Tax and XBRL|0 Comments

What is Estimated Chargeable Income (ECI) and when does it need to be filed?

The Estimated Chargeable Income (ECI) is an estimate of the company's taxable income for a certain Year of Assessment (YA). The taxable income is after deducting tax-allowable expenses. In simple terms, it is the total revenue less allowable expenses which is the taxable profit of the company. Due to the tax filing season for companies, [...]

By |2020-06-02T08:20:49+08:00June 2nd, 2020|Questions and Answers|0 Comments

What is an investment holding company or holding company?

A typical company conducts business and hires staff to produce goods and services and sells these goods and services to receive revenue. An investment holding company is a company that does not conduct any actual business but instead invests in assets. The investment holding company can invest in property, equities or even things like wine [...]

By |2020-05-24T13:56:29+08:00May 24th, 2020|Questions and Answers|0 Comments

How much taxes do fund management companies have to pay in Singapore?

Singapore, along with Hong Kong and perhaps Shanghai, is a leading asset management hub for institutional investors and fund managers looking to tap into the opportunities in the region. Singapore is increasingly pulling ahead as the premier place for fund management especially with the introduction of the Variable Capital Companies Act. We explained about the [...]

By |2020-05-24T02:35:09+08:00May 24th, 2020|Questions and Answers|0 Comments

What is a shelf company and how to buy a Singapore shelf company

A shelf company is a registered legal entity that is operational but is dormant. Being dormant, it has no income and does not carry out any activities. It does have all the basic structure of a legal entity. It has a registered local address, local director, shareholder and company secretary. Typically, shelf companies have a [...]

By |2020-05-13T12:12:27+08:00May 13th, 2020|Useful Articles|0 Comments

I need to return to my workplace during the circuit breaker. How can I do so?

During this circuit breaker period, non-essential workplaces are expected to be closed. However, there may be instances where certain employees may be required to return to the workplace for a short period of time. They can do so by applying for Time-Limited Exemption through this website: https://covid.gobusiness.gov.sg/ The application is to be done by the [...]

By |2020-05-11T11:46:46+08:00May 11th, 2020|Useful Articles|0 Comments

Company seals and company rubber stamps

Company seal A company seal, or common seal, is an official seal by the company to endorse documents like deeds and share certificates. It bears the company's name and registration number and is a metal contraption used to emboss documents. The company seal is used for contracts that are required by law to be executed [...]

By |2020-05-11T11:21:05+08:00May 11th, 2020|Useful Articles|0 Comments

Does my company need to hire an auditor?

A private company limited by shares, commonly referred to as company, is regulated by the Accounting and Corporate Regulatory Authority (ACRA). Companies are required to adhere to the Companies Act and in the Companies Act, the need to hire an auditor is spelt out clearly. If a company is deemed a small company, it does [...]

By |2020-04-23T18:33:03+08:00April 23rd, 2020|Questions and Answers|0 Comments

What you need to know about Anti-Money Laundering Regulations and how it affects your business

Changes were made to the Companies Act on 31st March 2017 and the key changes were with regards to making company ownership more transparent so as to limit the use of Singapore companies for illegal uses such as money laundering and financing of terrorism. There were also changes to the Accountants Act but for this [...]

By |2020-04-19T16:53:13+08:00April 19th, 2020|Useful Articles|0 Comments