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 [...]
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. [...]
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. [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]