A company in Singapore can be completely owned by a foreign one and will also be considered a separate legal body. The liability of the parent company is only limited to its share capital in the organization along with the assets which are safe from debts and obligations. In addition, the child company will be…
Also called a lease, CAM and Escalation Expense Audit, a rental audit refers to the inspection and analysis of commitments and rights such as lease reviews. It is a pretty systematic process and involves the examination of involved documents, the interpretation of the language used and the measurement of the space involved. If you want…
GOODS AND SERVICES TAX (GST) – Launch of GST Bulletin Issue 11 IRAS are pleased to inform you that a new issue of the bi-annual GST Bulletin has been released. The GST Bulletin features bite-sized information on recent changes in GST law and GST treatment on issues commonly faced by GST-registered businesses. Some key topics…
Ecommerce is one of the fastest growing industries in the world and none more so than in Singapore. However, even though starting one can increase your success rate in the country, most people do not realize that it takes more than just setting up a payment portal and website. A significant amount of preplanning, market…
Update on BizFile+ – Extension of Filing Time and No Imposition of Filing Penalties ACRA will be extending the time to file AR, Annual Declarations, Business Registration Renewals and any statutorily required filings which are due between 26 Dec 15 to 31 Jan 16, to 2 Feb 16. For more information, please view Update on…
Why you should get an Accredited Accountant for your business Do you own a small but growing business the financial challenges of which are getting too much to handle? Then you need a second pair of hands in the form of an accredited accountant on staff who can handle those numbers, giving you time to…
Dear Reader, Welcome to our E-Newsletter January 2016 We are glad to present you our final newsletter for 2015. It has been an eventful year as since the beginning of this year, the economic environment continues to be challenging, both domestic and worldwide. Despite such a challenging environment, we have continued to do our best…
Changes to CPF Contribution Rates and Wage Ceilings from 1 January 2016 The CPF contribution rates for employees aged above 50 to 65 years will be increased for wages earned from 1 January 2016 to help them save more for their retirement needs. Find out more about the new CPF contribution rates. To keep pace with income…
3E Accounting is immensely grateful and humbled to be able to get listed as One of the Top 30 Accounting Firms in Singapore. We are also featured in Singapore Business Review’s Magazine (The definitive magazine for Singapore’s Business Elite) for January 2016 issue – 3E Accounting banks on efficiency, economy, and effectiveness on the road to success. As…
Highlights of ACRA New Filing Requirements for Companies effective 3 Jan 2016 ACRA has revamp its online business filing and information portal (“BizFile”). The enhanced system, Bizfile+ , will launch on 3 Jan 2016. As announced on 5 Nov 2015, Bizfile will undergo system migration to transition to Bizfile+. You may wish to note that:…
Corporate Tax Filing Season 2015: 3 Filing Mistakes Companies Should Avoid As companies prepare to e-File their income tax returns by 15 Dec 2015 (or 30 Nov 2015 if they paper file), IRAS would like to highlight three common mistakes so that companies can avoid them1. Compliance Reviews and Guides to Help Companies File Correctly…
Financial Reporting Practice Guidance No.2 of 2015 – Areas of Review Focus for FY2015 Financial Statements ACRA has issued Practice Guidance No. 2 of 2015 which highlights the ten areas of review focus under the Financial Reporting Surveillance Programme (FRSP) for FY2015 Financial Statements. The practice guidance serves to guide directors and other financial statements…