Tax season is soon upon us and it is time for all business owners to file their taxes with the Inland Revenue Authority of Singapore (IRAS). It is mandatory for companies and businesses to file their tax returns in Singapore. Here are some tips on how to file your corporate tax returns. 1) Preparation of [...]
Tell us a little bit about your company. Wholesome Eats by Cookit was set up to help families and individuals restore the body to optimal health by adopting a whole natural diet. We strive to make food that is unprocessed, sugar-free, gluten-free and lactose-free easily available to everyone. Our kitchen is at 115 East Coast [...]
Tell us a little bit about your company. Kevin: We build and maintain cryptocurrency mining rigs. The mining rigs that we assemble mainly mine Ethereum. We also help clients build mining farms. We source for the location, handle the electrical set up and operations of the mining farm. Mark: We also run courses teaching participants [...]
There are various structures for individuals to do business in Singapore. However, the most flexible and yet advantageous structure, in our opinion, is a Private Limited Company. There are a few reasons why we recommend our clients to incorporate a company to do business in Singapore. Limited liability for company owners A Private Limited Company [...]
It is very common for company owners to start a company without truly thinking about their paid-up capital. In fact, not many company owners know what paid-up capital is. Simply put, paid-up capital is the amount of money a company has received from its shareholders in exchange for shares of stock. Paid-up capital is created [...]
Giving back to society is always a good thing. Some companies do it through programs embedded in their corporate structure. These are commonly called Corporate Social Responsibility (CSR) programs. Some companies do it a step further and function as a Social Enterprise. Social Enterprises are business entities set up with clear social goals. There are [...]
Xero is excellent for small businesses. If you are looking for a program to do your accounts, it should be able to handle most accounting tasks for small businesses. It is built on a true double-entry accounting framework. It allows business owners to track and manage sales, purchases, inventory and payroll. Business owners can create [...]
Singapore is a great place to do business. It is corruption free, has a highly educated and skilled workforce and has low corporate taxes. Singapore is a cosmopolitan country and an extremely open economy. It is no wonder that many people in Singapore do choose to open companies or register as a sole proprietorship or [...]
All Singapore registered private limited companies have a responsibility to remain compliant with the Accounting and Corporate Regulatory Authority (ACRA). There are two mandatory filings which must be done on an annual basis. These are namely the Annual General Meeting (AGM) and their Annual Returns (AR). Annual General Meeting (AGM) An AGM is a mandatory [...]
Previously known as two separate documents, the Memorandum of Association and Articles of Association, the Companies (Amendment Act) 2014 combined them into a single document called the Company Constitution. The Company Constitution is a legal document which spells out the rules and regulations as to how the company should be governed. It also firms up the [...]