Accounting Date vs Accounting Year

Accounting date is the date on which a trade or business makes up its accounts. Accounting period is the period by reference to which a trade or business is chargeable. The accounting period of a trade or business commences when: a previous accounting period ends a...

Year of Assessment and Basis Period

In Singapore, income tax is annual in its structure and organisation. Since income tax is charged on a preceding year basis, it is important to distinguish between a “year of assessment” and the “basis period” for a year of assessment. Each...
Partnerships and Service Companies

Partnerships and Service Companies

There has been little growth in the number of service companies formed by partnerships of professionals, ie doctors, dentists, lawyers, architects, accountants etc. Generally, professional bodies do not object to the use of a service company to handle certain...
Employment Passes and Work Permits for Singapore

Employment Passes and Work Permits for Singapore

Singapore is not just a tourist hub in South East Asia, but also a haven for those who are on the lookout for employment opportunities. The multicultural environment, myriads of work opportunities, world class infrastructure facilities and excellent educational...
Singapore Company Secretary Requirements And Duties

Singapore Company Secretary Requirements And Duties

When a business is incorporated under the Singapore Companies Act, the company is required to engage a company secretary within six months. This is mandatory even for companies that have one director or shareholder. The role of corporate secretary is critical...
How to File Corporate Tax Returns for Singapore Companies

How to File Corporate Tax Returns for Singapore Companies

When it’s time to file your corporate tax return in Singapore, there are many ways you can do it. A must know for all business owners with every successful singapore company setup. Different entities require different tax form on which they report their revenues...
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