Singapore is being recognized as a business’ hub around the world, making it an APAC HQ for many foreign companies. Apart from that, Singapore also has a reputation to help businesses to scale domestically and globally. Furthermore, the country offers great benefits such as grants and attractive tax rates. But the main question is, “Is…
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Extension of Filing Due Date due to intermittent disruptions in ACRA Bizfile+ Portal. For the past few weeks, Bizfile+ users experienced a slow and unresponsive system while trying to file the transactions with ACRA. This has caused inconvenience and disruptions to corporate service provider (CSP) and business owners. Many are facing huge amount of stress,…
Facts about a Dormant Company The main purpose of setting up a company is to do business and make a profit out of it. However, some company are formed and subsequently becomes dormant. A Dormant Company is inactive and does not have any business transaction or activities. The following are some of the common reasons…
MOM impose tougher restriction for Work Pass requirements despite economic uncertainty. The Ministry of Manpower (MOM) regularly adjust the criteria for work pass eligibility so as to support employment opportunities for the local workforce. Increment of minimum salary for EP and S Pass was adjusted recently at the start of the year. Due to the…
Ministry of Manpower (MOM) set to raise salary criteria for Employment Pass (EP) and S Pass holder. In the ministry’s addendum to the president’s address, the Manpower Minister Josephine Teo highlighted that there is “more slack” in the labour market now due to the impact of the global pandemic – Covid-19. The Singapore’s foreign workforce…
What are the differences between Director’s Fee and Director’s Salary? A director who is being appointed by the company can be remunerate by salary and/or director’s fee. Generally, a director is an employee of the company which is appointed by the shareholders. The duties of a director involved in managing the affairs of the company…
Singapore Branch Office vs Subsidiary vs Representative Office There are 3 entity structures for a foreign company to establish an office or expand their business in Singapore. They are namely the branch office, subsidiary company, and representative office. Nonetheless, each has its own benefits and drawbacks. Thus, it is recommended to consider those options carefully…
Due to this worldwide pandemic, many companies may have difficulties holding their Annual General Meetings (AGMs), as well as the filling of their Annual Returns (ARs). With that, the Accounting & Corporate Regulatory Authority (ACRA) have come up with a Support Measures and Guidance for Businesses during COVID-19 that grants all Singapore companies a 60-day extension of deadline for holding their AGMs and ARs. This would hopefully loosen up tight knots on businesses at this given point of time.
In the past 2 years, “Register of controllers” may be one of the more common phrases you have been hearing. If you are wondering what it is, you are in luck! Read on… Introduced by ACRA since 31st March 2017, all companies incorporated in Singapore — foreign companies and all limited liability partnerships registered in…
During this time of uncertainty, having sufficient cash flow is vital. On top of wage support schemes announced previously, it was announced in the Resilience Budget on 26 Mar 2020 that the Government is deferring income tax payments for businesses and self-employed individuals by up to three months.
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We have been working with Accountancy Hub for four years now. We have always been impressed by your expertise and guidance. During the whole engagement, your team provided us with accounting advices and explanations in a language we can relate to, and helped us put in place a system that streamlined our accounting practices.
VINCENT TEO, CO-FOUNDER, TWO3 PTE LTD
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