Articles in Singapore

  • Can a Foreigner Register a Sole Proprietorship in Singapore?

    Singapore's sole proprietorship means that one person or one company owns a business. The business can have no partners, and the owner has the ultimate say in the complete running of the business. The sole proprietorship can have its own name so long as the more

  • Understanding Customer Accounting for GST

    Singapore has enacted customer accounting changes, for certain goods, that will go into effect on 1 January 2019. The new changes have been enacted in an attempt to deter fraud schemes and maintain Singapore's identity as a low-fraud country. Sellers often hide the GST collected, more

  • Why Forensic Accounting is Important in the Interconnected World

    Accountants are able to get an intimate look at a company's books. When an accountant is tasked with auditing the books or doing a company's taxes, the accountant is often able to uncover accounting fraud. But the field has since moved in a new direction. more

  • The Difference Between Liquidation and Strike Off

    Liquidation and strike off are the two primary options when closing a business in Singapore. A Singapore company may decide to shut its doors for a variety of reasons, but winding down operations can be a lengthy, complex process. The amount of time it takes more

  • What is Sales Suppression Technology (SST)

    Taxpayers should comply with their tax obligations, but a select few taxpayers engage in tax evasion and fraud. These practices can lead to billions of lost revenue annually, putting strain on both the economy and other taxpayers. Sales Suppression Technology: The Basics Tax fraud can more

  • Countries are Implementing VAT MOSS Rules

    • Posted by admin
    • 16 January 2018
    • Articles

    VAT MOSS, also known as VAT Mini One Stop Shop, is a new regulation that went into effect on 1 January 2015. The regulation, which affects digital products sold in the European Union, makes VAT chargeable at the place of purchase rather than the place more

  • THE ROLE OF A COMPANY SECRETARY

    Under Section 171(1) Cap 50 of the Companies Act, every company shall appoint one or more company secretary who is a natural person and whose principal place of residence is in Singapore. The responsibility of ensuring that the appointed company secretary is competent and has more

  • Running a Home-Based Business Out of a HDB Flat

    Thinking of running a business out of your HDB flat? Before you dive in, it’s important to understand what you can ­– and can’t – do. Whether you’re running an online marketing business or hosting tutor sessions from the comfort of your flat, there are more

  • Concept of Materiality, A Cornerstone in Accounting

    The concept of materiality is a cornerstone in accounting, and the Financial Accounting Standards Board (FASB) issued two exposure drafts that aim to address the concept of materiality on September 24, 2015. What is the Concept of Materiality? The concept of materiality is a fundamental more

  • Impact of New Legislative Amendments on Companies in Singapore

    Legislative amendments passed into law in 2015 will have a severe impact on Singaporean companies. The Accounting and Regulatory Authority (ACRA) started implementing these changes in phases, with Phase 1 implemented on July 1, 2015. Private limited companies will be affected directly by the changes. more

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