Reading time 17 minutesBetween Q2 2021 and 2023, Singapore’s startup economy was valued at S$144 billion. In 2024, it ranked 7th in the Global Startup Ecosystem Report 2024, up one spot from 2023, solidifying its status as an innovation nation. Given its emphasis on research and innovation, it’s no surprise that the city-state emerges as a […]
Reading time 9 minutes Another change has come in Singapore’s fiscal landscape with the upcoming implementation of the 2024 Goods and Services Tax (GST) rate change. Let us dive into the intricacies of this impending adjustment, shedding light on the origins and implications of the Singapore GST rate change set to take effect in the coming […]
Reading time 10 minutesAs businesses and investors expand, cross-border taxation knowledge becomes more integral in pursuit of global financial growth. With different tax laws in every country, businesses need to understand the taxation policies to ensure compliance and avoid any legal implications. For most investors, diversifying your portfolio across borders can yield substantial rewards. However, as […]
Reading time 4 minutesIn the past year or so, the term ‘equity and social justice’ has become mainstream due in part to the Black Lives Matter protests. What started because of the death of George Floyd under police custody, had a ripple effect on all aspects of life, including equity in the workplace. Companies and institutions are responding […]
Reading time 7 minutesSingapore has a flat corporate income tax rate of 17% for all businesses, regardless of size or industry. This is one of the lowest corporate income tax rates in the world. There are also a number of tax exemptions and tax deductions in Singapore available to businesses. Singapore’s favourable tax policy and friendly […]
Reading time 14 minutes Preparing financial statements is integral to running a successful business, providing a snapshot of a company’s financial performance and position. Understanding these documents can be overwhelming for those just starting, but with the right guide, you can gain the necessary knowledge to make informed decisions. We’ve written a comprehensive guide to walk […]
Reading time 18 minutesSmall business owners face a daunting task as tax season approaches, juggling the complexities of small business tax preparation while striving to maximise their returns and minimise their tax liabilities. With the complexities of the tax code and the unique considerations for small businesses, it can be overwhelming for a lot of small […]
Reading time 7 minutes If you’ve decided to avail of an outsourced payroll service, you must pick the right provider that can truly enable you to improve your company’s productivity without downgrading quality in your internal procedures. With many different options in the market nowadays, how can one know which service provider is good? Singapore is […]
Reading time 6 minutesEffective management of your small business accounting is essential for long-term success. As the lifeblood of your business, your company finances should be carefully handled to avoid future issues. Are you prepared to unlock the key steps to maintain optimal financial health and ensure a prosperous future for your business? 5 Key Small […]
Reading time 5 minutesImplemented in 1994 under The Inland Revenue Authority of Singapore (IRAS), the Singapore Goods and Services Tax (GST) Act is seen as a way to provide steady revenue for the government while keeping personal and corporate income tax rates at a relatively low rate. IRAS acts as the agent of the Singapore government […]
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