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A non-profit organization (NPO) in Singapore is a legally formed group that focuses on activities for public or private interest without making commercial profit. If NPOs make a profit, known as a surplus, they keep it for future activities instead of distributing it to members like profit making companies do. In Singapore, NPOs are often called Voluntary Welfare Organizations (VWOs) and can
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Online accounting and bookkeeping services are really important for businesses today. They give lots of advantages like being easy to use, accurate, good for teamwork, and saving money. With these services, handling financial records is much simpler and faster. This article explores the benefits of online accounting & bookkeeping services
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TOP ACCOUNTING FIRM IN SINGAPORE In Singapore's strong economy, accounting firms are crucial for keeping it as a leading global financial center. Audit firms play a vital role in ensuring transparency and accountability in business operations. They help maintain accurate financial records and build trust with stakeholders and potential investors.
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If you pay taxes in Singapore, you deal with the Inland Revenue Authority of Singapore (IRAS). They collect taxes, make tax laws, and help the government with tax matters. Here's what you should know about IRAS and when you might need to contact them. WHAT IS IRAS? IRAS, or the Inland Revenue Authority of Singapore, started in 1947 as the Singapore Income Tax Department. Its main job is to collect taxes from people and businesses. Additionally, it has departments dedicated to investigations, enforcement, and international taxation.IRAS collects about 70% of
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Tax planning involves analyzing a company's finances to find ways to reduce taxes efficiently. This is also possible in Singapore, where the government offers incentives, grants, and subsidies to help minimize taxes even further. Our Singapore accountants outline the main tax optimization strategies available in the city-state. We also offer
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If your company still uses desktop software or spreadsheets for accounting, it might be a good idea to switch to a cloud-based accounting system. Cloud-based software has several advantages over traditional systems. It lets users work from anywhere, anytime, automates manual tasks, improves accuracy and compliance, and speeds up financial
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In bustling Singapore, figuring out taxes can be confusing, especially when it comes to service charges. If you're running a business or living in Singapore, it's important to understand what service charges are and how they work. In this guide, we'll explain what service charges are in Singapore and how
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How to calculate GST in 2024 How the GST Rate Change Impacts You In Singapore, when you buy something, you almost always pay more than the stated price due to GST and service charge. These charges, at 8% and 10% of the item's retail price, respectively, are payable when you
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What is Corporate Tax Filling? Who is obligated to file corporate income tax? The Inland Revenue Authority of Singapore (IRAS) mandates the following entities to file their corporate income tax: Business entities incorporated or registered under the Companies Act 1967 or any prevailing law in Singapore. Typically, such entities bear
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Get 50% off Xero PSG Grant Welcome to PSG Xero Accounting Grant Singapore! Here, you can access the incredible features of Xero Cloud Accounting Software at incredibly affordable prices. Starting from just $360 per year, our subscriptions allow you to streamline your business finances effortlessly. Enjoy the benefits of the
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