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Form C-S

Form C-S is a simplified 3-page income tax return for companies to report their income to the Inland Revenue of Singapore (IRAS).   Form C-S is for qualifying small companies and has fewer fields to fill. Form C-S comprises: A declaration statement of the company’s eligibility; Information on tax adjustments; and Information from the financial [...]

2018-10-19T12:43:27+00:00October 19th, 2018|

Corporate Tax Filing

Singapore is a very attractive place to do business. It is safe, corruption-free, has a highly-skilled workforce and a very attractive corporate tax system. Singapore has a single-tier corporate tax system. There is no double taxation on the monies received by shareholders. Tax paid by a company for its chargeable income is final and all dividends [...]

2018-10-19T12:39:22+00:00October 19th, 2018|

Comparing the various Corporate Bank Accounts for startups

Every business requires a corporate bank account. As a business owner, you will need to open a corporate bank account to facilitate the collection of payments from the sale of your goods and services. You will also require an account to make payments for goods and services rendered to you. In this article, we will [...]

2018-10-18T14:09:41+00:00October 18th, 2018|

How to transfer or sell shares of a Private Company?

There may be times when you may want to sell your shares of your private company to someone. You may also want to purchase the shares of another private company. Here are some steps which should be followed. Documents required An Instrument of Transfer (An agreement between the transferor and transferee for the transfer or [...]

2018-10-18T00:53:20+00:00October 18th, 2018|

Can I use my HDB flat as the registered office of my business?

Some business owners may wish to work from home and thus may want to use their HDB flats as their registered address. HDB does allow this under the Home Office Scheme. To apply for a home office, you would need to make an application on the HDB website. The License for Home Office Scheme is [...]

2018-10-16T19:26:03+00:00October 16th, 2018|

Advantages of filing ECI (Estimated Chargeable Income) early

Estimated Chargeable Filing (ECI) is a compulsory filing requirement for companies unless the company qualifies for a waiver. There are advantages for companies that file their ECI earlier and within the qualifying period as they may opt to pay corporate taxes by instalments. The benefits for filing ECI early are: 1) Instant acknowledgement upon successful [...]

2018-10-16T17:41:42+00:00October 16th, 2018|

Estimated Chargeable Income (ECI)

Estimated Chargeable Income (ECI) is an estimate of a company's taxable income (after deducting tax-allowable expenses) for a Year of Assessment (YA). The Inland Revenue Authority of Singapore (IRAS) requires that the ECI be filed so that they can raise an early assessment. The data collected by IRAS will also be useful in helping the [...]

2018-10-16T17:27:56+00:00October 16th, 2018|

Can a Dependant Pass holder start a business in Singapore?

Dependant Passes are issued by the Ministry of Manpower (MOM) to family members of qualified Employment Pass and S Pass holders. The family members who are eligible are spouses and children under the age of twenty-one. To qualify, the Employment and S Pass holder must earn a minimum of SGD$6,000 a month for their spouses [...]

2018-10-15T23:15:12+00:00October 15th, 2018|

Shareholders’ Meetings. Shareholders’ First Meeting, AGM and EGM.

Shareholders' Meeting The meetings of a Singapore incorporated company can be divided into two sections. Shareholders' Meetings and Directors' Meetings. In this article, we will be touching on Shareholders' Meetings. The Shareholders are the owners of the company and thus have the right to decide certain on certain issues. In Singapore, certain meetings are mandatory [...]

2018-10-14T22:11:33+00:00October 15th, 2018|

Share Capital

Share Capital, otherwise known as equity financing, refers to the amount of money and property that a company has received in exchange for shares of the company. The shares can be either ordinary or preferred. Share Capital is listed in the balance sheet of the company as: 1) Common or preferred shares par value 2) [...]

2018-10-15T00:14:59+00:00October 15th, 2018|
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