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So far Daryl has created 444 blog entries.

Basic Payroll regulations in Singapore

Payroll-related matters in Singapore are regulated by the Employment Act (EA). The EA is applicable to all employees, regardless of nationality, who work under a contract of service. However, it excludes seamen, domestic workers, and individuals employed by statutory boards and the government. All employees under a contract of service with an employer are covered [...]

By |2023-10-24T17:28:13+08:00July 17th, 2023|Employment and Immigration|

What makes a company part of a group?

In the realm of business, a parent company refers to a corporate entity that possesses or exercises control over one or more other companies, typically by owning more than 50% of their voting rights. A subsidiary, on the other hand, denotes a company that is controlled by another company, usually through ownership of over 50% [...]

By |2023-10-06T16:15:57+08:00July 14th, 2023|Questions and Answers|

The concept of a holding company and the requirements for one setting up

A holding company is a legal entity that owns and controls other companies, with the primary operational activities carried out by its subsidiary companies. It is established to mitigate risks for the owners, as their liabilities are limited to the shares or assets associated with the subsidiary held by the holding company. The use of [...]

By |2023-10-06T18:32:54+08:00July 6th, 2023|Running a Company, Useful Incorporation Articles|

What is Base erosion and profit shifting (BEPS)?

Base erosion and profit shifting (BEPS) is a term used to describe tax planning strategies employed by multinational enterprises (MNEs) that take advantage of gaps and inconsistencies in tax regulations to avoid paying taxes. Developing countries, which heavily rely on corporate income tax, are disproportionately affected by BEPS. These practices result in annual revenue losses [...]

By |2023-07-03T12:09:19+08:00July 3rd, 2023|What Is...|

Accrual vs Cash Accounting

In general, there are two accounting methods commonly used in business.   Cash basis accounting: The first method is cash-based accounting, which is a relatively straightforward approach where transactions are recorded at the time when cash is received or paid. In this method, income is recognized when cash is received, and expenses are recognized when [...]

By |2023-10-26T13:06:07+08:00June 28th, 2023|Accounting Bookkeeping Tax and XBRL|

What is the minimum age for a shareholder?

In accordance with Singapore legislation, every incorporated company must have at least one shareholder. A shareholder is an individual or legal entity that holds an ownership stake in the company. It is not mandatory for a shareholder to be a natural person; it can also be a legal entity. The fundamental requirement is that the [...]

By |2023-10-26T13:43:35+08:00June 22nd, 2023|Questions and Answers|

Performing a proper business valuation

Valuing a business accurately is important for various reasons, such as buying or selling a business, seeking investment, or determining its financial health. While the process of business valuation can be complex, here are some key steps to help you perform a proper business valuation in Singapore: Define the Purpose and Scope: Determine the purpose [...]

By |2023-10-26T17:09:19+08:00June 18th, 2023|Running a Company|

The importance of having a website for your business

In today's digital age, having a website for your business is essential. The internet has made the world more connected, and people now rely on it for information and various activities such as shopping, news reading, and entertainment. With the increasing amount of time spent online, businesses have recognized the need to establish an online [...]

By |2023-10-26T17:16:41+08:00June 15th, 2023|Running a Company|

The various CorpPass roles

CorpPass is a corporate user authentication service designed to facilitate online transactions with government agencies on behalf of organizations. Starting from September 2018, all entities must utilize CorpPass for government transactions. It caters to both local entities with a Unique Entity Number (UEN) and foreign entities. Local entities without a UEN can continue using SingPass [...]

By |2023-10-26T17:29:39+08:00June 11th, 2023|Running a Company|
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