File your corporate income tax on time Singapore | annual return in xbrl Singapore

Latest News and Articles

Incoterms
Do you know that what is Incoterms? How it impact the recognition of revenue/purchase in the Company? This article is important to an accountant and auditor.
Understanding Accruals and Deferrals
Accruals occur when cash is exchanged after the delivery of goods or services (e.g., accrued expenses and accounts receivable). Deferrals happen when cash is exchanged before the delivery of goods or services (e.g., prepaid expenses and deferred revenue).
XBRL filing requirements
All Singapore incorporated companies are required to file financial statements with ACRA, except for those which are exempted.
Cash Flow ≠ Profit
Cash flow is the money that flows in and out of your business throughout a given period, while profit is whatever remains from your revenue after costs are deducted.
Director - Role and Responsibilities
Being a director of a company in Singapore comes with significant responsibilities and duties. Directors play a crucial role in ensuring the smooth operation, compliance, and success of the company. Here’s an overview of the key roles and responsibilities that come with being a director of a Singapore company.
Branch or Subsidiary
When a foreign company wants to establish a presence in Singapore, it has two main options: setting up a branch office or creating a subsidiary. Each structure has distinct implications in terms of legal identity, taxation, compliance, and operational flexibility.
Understanding Dormant Companies in Singapore
A dormant company in Singapore is defined differently by the Accounting and Corporate Regulatory Authority (ACRA) and the Inland Revenue Authority of Singapore (IRAS). Understanding these definitions is crucial for businesses seeking to manage compliance effectively. This article explores these definitions and outlines the regulatory obligations, exemptions, and steps for handling dormant company status in Singapore.
How Can Outsourcing Accounting Help Your Business?
Outsourcing accounting functions can provide numerous benefits for businesses, from cost efficiency to improved focus on core activities. If your business is facing challenges in financial implications, accounting processes, tax implications, regulatory changes, cash flow management, and talent retention, outsourcing might be the strategic solution you need.
Understanding CPF Contributions:
What Payments Require Employer Contributions?
As an employer in Singapore, understanding when Central Provident Fund (CPF) contributions are required is crucial for ensuring compliance with regulations and supporting your employees' financial security. CPF contributions are generally mandated on payments made in cash for work done, but not all types of payments are subject to CPF contributions. Below, we’ll break down the common payments that do and do not attract CPF contributions.
Importance of Appointing a Data Protection Officer (DPO) and Ensuring PDPA Compliance
With the ever-growing emphasis on data protection, it is vital for organizations to adhere to the guidelines set by the Personal Data Protection Act (PDPA). One of the key requirements under the PDPA is the appointment of a Data Protection Officer (DPO), who is responsible for ensuring compliance with the Act. Below, we outline the importance of this role and the key responsibilities that come with it.
InvoiceNow: Transforming E-Invoicing in Singapore
As businesses continue to embrace digital transformation, Singapore has taken a leading role in modernizing invoicing processes through the adoption of InvoiceNow, the nation’s e-invoicing network based on the globally recognized Peppol infrastructure. Here’s an overview of this groundbreaking system, its features, and its benefits for businesses.

Resources

Latest News and Articles