Blog
Singapore Welcomes High Net Worth Investors From All Over the World
Singapore abolished Estate Tax, which it had inherited during the British era. The move will encourage Singapore to become an attractive place for wealth to be invested and built up, whether by Singaporeans or foreigners. The Estate Duty will be removed with immediate effect from the Singapore tax regime. The ... Read More
Financial Statements & Directors Report
The Directors are responsible for preparing financial statements for each financial year in accordance with the Financial Reporting Standards (FRSs) and general accounting practice. The statements must give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company ... Read More
Singapore Budget 2008 Unveil “Benefits for Business”
(A1) Tax Deduction for R&D Expenditure (for all companies) Increase the quantum of tax deduction for expenditure incurred on research and development (R&D) done in Singapore from 100% to 150%. This means that for every SS$100,000 of local R&D expenditure incurred, SS$150,000 may be claimed as a tax deduction. This higher ... Read More
Why Singapore? Singapore Company Setup Specialist – Gives You the Top 5
Singapore has attracted various organisations ranging from the Fortune 500 companies, small and medium enterprises, educational institutions to news bureaus to form their place in Singapore’s business landscape. Singapore is well known around the world as a multicultural, multi religious and multi racial harmonious island food paradise. Starting as a quiet, ... Read More
The First Company Convicted of Abusing Tax Exemption Scheme
Steel Forming and Rolling Specialists Pte Ltd ("SFRS") was convicted of tax evasion by making false entries in its income tax returns for the Years of Assessment 2005 and 2006. The total amount of profits under-reported was $1,356,000. The company’s managing director, Mr Gan Oh Boon was also ... Read More
Singapore / Employment Pass / Visa Requirements – Immigration Matters
If I am an Employment Pass holder, can my spouse work in Singapore? If you hold an Employment Pass, your spouse is eligible to apply for a Dependant Pass and thereafter to obtain a consent from the Ministry of Manpower (MOM) to work in Singapore. Who is eligible to apply for an ... Read More
Benefits of Having an Employment Contract
Over time the need to have a written employment contract has become a necessity. In the past employers and employees used to make verbal agreements concerning the rights and obligation of their employment relationship. Since verbal agreements are difficult to prove, these days, contract of service are preserved in a written ... Read More
Bright Sparks in Singapore’s Economy Shows Promise for Businesses Ahead
Singapore’s Company Incorporation Specialist says time is ripe for entrepreneurs to take advantage of upcoming rebound. Hyatt, Burger King, IHOP, The Jim Henson Company, LexisNexis, FedEx Corp, Microsoft Corp, CNN, MTV Networks, Trader Joe’s, Wikipedia Foundation, Sports Illustrated, GE, HP, IBM, Procter & Gamble, United Technologies. What do these well known ... Read More
Towards An Unique Identity And Greater Efficiency
From 1 January 2009, all entities such as businesses, companies and societies operating in Singapore will be able to interact with several government agencies using just one Unique Entity Number (UEN). UEN shall replace all other identification numbers issued to an entity by different government agencies. Currently an entity uses ... Read More
Singapore – APEC Star Performer
According to the Study Report of the 2007 Individual Action Plan Peer Review of Singapore, which was released in late August 2008, Singapore is a "star APEC performer" and "on track to meet the Bogor goals" of free and open trade and investment by 2010. According to the report Singapore ... Read More