5 Top Accounting Firms in Singapore
Singapore has earned a name among the most prosperous nations in the world, competing closely with the United States in terms of economic freedom and a growing business environment. In this dynamic environment, many top accounting firms have also found a place to lay the foundations to expand their operations in Asia to help businesses…
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Dev Team
Quick Facts: Small Company Audit Exemptions in Singapore
The Companies Amendment Act enacted into law in 2014 revised the criteria for audit assurance requirements and introduced the small company concept, offering audit exemptions for registered private limited companies in Singapore. What is the Effective Date of the Act? The Accounting and Corporate Regulatory Authority (ACRA) began implementing key changes enforced by the law…
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Paul Wan & Co
Double Tax Deduction in Singapore: Tax Facts
As per Singaporean legislation, individuals (employees or sole proprietors) and companies are required to file annual income tax returns to the Inland Revenue Authority of Singapore (IRAS). Among the tax incentives implemented by IRAS are double tax deductions for businesses in the city-state. What is Double Tax Deduction (DTD)? Double tax deduction refers to cases…
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Tax Dept
The Purpose of Audits and How Your Business Can Benefit from Them
A recent survey from the Singapore office of the reputed accounting firm PWC has unveiled that the percentage of companies who trade in the Singapore Exchange that have decided to include Auditing Committee commentaries into their financial statement has increased from 40% to 60% from 2017 to 2018. It seems that companies in Singapore are…
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Paul Wan & Co
IRAS Year of Assessment for Tax filing: Tax Facts
By Singaporean law, individuals (employees or sole proprietors) and companies are required to file their annual income tax returns to the Inland Revenue Authority of Singapore (IRAS). What is Year of Assessment (YA)? The IRAS defines Year of Assessment as the year income tax is computed, filed to tax authorities and tax bills are settled.…
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