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Efficient financial management is the backbone of any successful business. However, juggling multiple tools and systems to track finances, manage operations, and ensure compliance can often lead to inefficiencies and…
Singapore’s impressive network of 27 Free Trade Agreements (FTAs) is the key to opening its considerable business opportunities across growing and established global markets. With 15 bilateral and 12 regional…
Businesses that gain Singapore corporate tax resident status access a powerful set of financial advantages. The numbers prove Singapore’s strength: double taxation agreements (DTAs) with over 100 countries, one of…
For many businesses in Singapore, audits are essential to ensure financial transparency, compliance with regulations, and the overall health of an organisation. However, instead of conducting audits internally, more companies…
Singapore’s adoption of the Base Erosion and Profit Shifting (BEPS 2.0) framework’s 15% minimum tax rate creates strategic benefits extending beyond revenue collection. Starting January 1, 2025, multinational enterprises (MNEs)…
Singapore banks now hold assets of 2.5 trillion Singapore dollars, with 132 financial institutions serving businesses as of 2023. For companies establishing operations here, a corporate bank account opens the…
The Inland Revenue Authority of Singapore (IRAS) functions as Singapore’s primary tax body, combining tax collection duties with expert government advisory services. IRAS’s policies and procedures directly affect financial outcomes…
The Singapore Parliament passed the ACRA (Registry and Regulatory Enhancements) Bill on 2 July 2024. As such, the Accounting and Corporate Regulatory Authority (ACRA) will introduce the Contact Address regime…
Corporate entities often need to handle various administrative tasks, such as applying for grants or filing taxes. Aligned with Singapore’s Smart Nation vision, the Government Technology Agency (GovTech) simplifies business…
Running a business in Singapore comes with countless opportunities and a fair share of risks. Unexpected events can disrupt operations and cause significant financial strain. This is where company insurance…
The Inland Revenue Authority of Singapore (IRAS) and the Infocomm Media Development Authority (IMDA) have introduced a major change to business invoicing requirements. The phased adoption of InvoiceNow for GST-registered…
Cloud-based accounting solutions have swiftly yet unsurprisingly reshaped financial management practices worldwide, with the sector project to expand to US$10.1 billion by 2033, with a 6.6% compound annual growth rate….
Singapore’s business appeal continues to grow, with the city-state adding a net 64,000 new companies in 2022 alone, according to the latest statistics. As the world’s freest economy, Singapore is…
In 2024, 262,000 companies are expected to file corporate income tax (CIT) returns by the 30 November deadline. According to the Inland Revenue Authority of Singapore (IRAS), more than 4,700…
Securing a Singapore work pass application has become increasingly competitive as the city-state solidifies its position as a global talent hub. The numbers reflect this growing appeal – Singapore recently…
Business operations run more smoothly when technical issues, such as cheque defaults, are minimised in critical transactions. Though writing a cheque may seem straightforward, ensuring it is done correctly is…
One of the most crucial aspects of operating a business in Singapore is ensuring compliance with the country’s laws and regulations. The accounting period, also known as the fiscal year,…
In Singapore, companies that qualify for audit exemptions can benefit from unaudited financial reports to navigate the corporate landscape efficiently. This is especially crucial for small and medium enterprises, as…
An annual audit is essential for any business in Singapore to ensure proper financial procedures. Financial statements that are accurately audited will enjoy positive ratings from the Accounting and Corporate…
Singapore’s business-friendly environment has attracted entrepreneurs globally for over five decades. A key factor in this success is the Accounting and Corporate Regulatory Authority (ACRA), which oversees annual filing requirements…
