Singapore audit exemption for Private Limited Companies
In accordance with the Singapore Companies Act, private limited companies are required to have their financial statements audited by an auditor or public accountant at least once a year unless [...]
Basic Roles and Features of Accounting Firms in Singapore
Accounting firms exist as an entity to provide professional accounting services to businesses. There are many areas of service that an accounting firm can provide, and they are not just [...]
A basic guide to GST F5 Form Submission to IRAS
By legislation, GST registered companies are required to accomplish and report their GST claims to the Inland Revenue Authority of Singapore (IRAS) through the standardised GST F5 Form. Goods and [...]
Conditions for becoming a GST Registered Company in Singapore
By Singaporean legislation, the Inland Revenue Authority of Singapore (IRAS) is tasked with the administration of taxes for individuals and companies in the city-state. When filing annual income tax returns, [...]
What is ASK and How Do Businesses in Singapore Benefit from It?
ASK stands for Assisted Self-Help Kit and it is a program developed by the Inland Revenue Authority of Singapore (IRAS) to help businesses in assessing the accuracy of their Goods [...]
What is an Internal Audit and How Can it Benefit a Company?
An internal audit is a procedure that involves a systematic evaluation of a company’s accounting and reporting processes, along with its corporate governance and internal controls. This type of audit [...]
GST Rate Increase Singapore: Tax Facts
Late last year, the Singapore government announced plans to raise GST by 2 percentage points. In the Singapore Budget 2018, the next proposed GST increase will happen between 2021 and [...]
Exempt supplies under Singapore GST legislation: Tax Facts
As per the rules and guidelines set by the Inland Revenue Authority of Singapore (IRAS), GST may be charged on sales of locally-made goods and services rendered excluding exported goods, [...]
5 Top Mid-Tier Accounting Firms in Singapore
Mid-tier accounting firms in Singapore are considered to be strong players in any domestic market outside of the industry’s “Big Four”. While they don’t have the full reach that top [...]
A List of Top Audit Firms in Singapore
The proliferation of competitive accounting firms in Singapore plays a crucial role in boosting the city-state’s reputation as a leading business and financial hub in Southeast Asia. Numerous business reports [...]
5 Top Accounting Firms in Singapore
Singapore has earned a name among the most prosperous nations in the world, competing closely with the United States in terms of economic freedom and a growing business environment. In [...]
Quick Facts: Small Company Audit Exemptions in Singapore
The Companies Amendment Act enacted into law in 2014 revised the criteria for audit assurance requirements and introduced the small company concept, offering audit exemptions for registered private limited companies [...]
Double Tax Deduction in Singapore: Tax Facts
As per Singaporean legislation, individuals (employees or sole proprietors) and companies are required to file annual income tax returns to the Inland Revenue Authority of Singapore (IRAS). Among the tax [...]
The Purpose of Audits and How Your Business Can Benefit from Them
A recent survey from the Singapore office of the reputed accounting firm PWC has unveiled that the percentage of companies who trade in the Singapore Exchange that have decided to [...]
IRAS Year of Assessment for Tax filing: Tax Facts
By Singaporean law, individuals (employees or sole proprietors) and companies are required to file their annual income tax returns to the Inland Revenue Authority of Singapore (IRAS). What is Year [...]