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August 5, 2024
Under Singapore Financial Reporting Standards (SFRS), specifically SFRS 15 “Revenue from Contracts with Customers,” non-refundable upfront fees are generally not recognised as revenue when received. Instead, these fees…
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August 5, 2024
Under Singapore Financial Reporting Standards (SFRS), specifically SFRS 15 “Revenue from Contracts with Customers,” customisation or installation services can be considered separately from the related product sale under…
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August 2, 2024
Under the Financial Reporting Standards (FRS), particularly FRS 15/ASC 606, contract acquisition costs can be capitalised, rather than expensed immediately, if conditions are met. Capitalisation of Contract…
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July 31, 2024
The Commodity Trading Sector in Singapore Singapore hosts approximately 300 global trading companies, operating under the International Enterprise Global Traders Program, which includes some of the world’s largest…
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July 29, 2024
Senior Employment Credit (SEC) The SEC program offers wage subsidies to Singapore employers hiring senior Singaporean workers. The aim is to assist businesses in managing the higher costs…
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July 25, 2024
The textile sector, one of the oldest segments of the manufacturing industry, has consistently performed well within the global economy. Asian countries are renowned for their textile mills…
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July 24, 2024
We have recently shared with our client the GST treatment for advertising services provided by their Singapore entity. They are unclear as some of their services are provided…
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July 23, 2024
Understanding the business expenses recognised by IRAS can significantly enhance your financial efficiency when launching a business in Singapore. This guide aims to help you maximise these benefits…
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July 18, 2024
Home Office Scheme The Home Office Scheme permits homeowners, registered occupants, or tenants of HDB flats to operate small-scale offices from their residences, following the current usage guidelines.…
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July 1, 2024
The Institute of Singapore Chartered Accountants (ISCA) is the national professional accountancy body in Singapore. It plays a crucial role in the accounting profession in the country. …
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