by Willie Tan | Jul 23, 2024 | Tax
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 and support sustainable business growth. The objective is to ensure...
by Willie Tan | Jul 18, 2024 | Running Your Company
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. You are allowed to use your flat for administrative business...
by Willie Tan | Jul 1, 2024 | Glossary
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. Here are some key points about ISCA: Established: ISCA was...
by Willie Tan | Jul 1, 2024 | Glossary
Statutory income is a term used primarily in tax law to refer to income specifically defined by statute as subject to tax. This type of income includes all earnings that are legally required to be reported to the tax authorities and is subject to taxation according to...
by Willie Tan | Jun 28, 2024 | Glossary
The Comptroller of Income Tax in Singapore is a key official within the Inland Revenue Authority of Singapore (IRAS), responsible for the administration and enforcement of income tax laws. The role involves several critical functions and powers as stipulated in the...
by Willie Tan | May 31, 2024 | Glossary
A branch office in Singapore is a legal structure that allows a foreign company to establish a presence in Singapore. It is essentially an extension of the parent company and not a separate legal entity. Here are some key characteristics of a branch office in...
by Daryl Lum | May 15, 2024 | Growing Your Company
Financial reporting stands as a fundamental pillar for ensuring transparent and accountable financial management across organizations. This in-depth exploration aims to uncover the essence of financial reporting, its significance, various forms of financial reports,...
by Daryl Lum | May 15, 2024 | Growing Your Company
Budgeting serves as a pivotal element in a company’s financial strategy, setting financial objectives and monitoring progress towards these goals. It plays a crucial role in managing finances by guiding resource distribution, pinpointing potential risks and...
by Daryl Lum | May 15, 2024 | Growing Your Company
Forecasting leverages historical data and analytical assumptions to project future financial outcomes, serving as a pivotal tool for strategic decision-making. Through the extrapolation of past financial trends, forecasting offers a comprehensive view of anticipated...
