Embracing Digital Business Automation in Singapore: A Path to Efficiency and Growth

In today’s rapidly evolving business landscape, digital business automation has emerged as a critical strategy for companies in Singapore seeking to enhance efficiency, reduce costs, and maintain a competitive edge. With its vibrant economy and robust regulatory environment, Singapore offers a unique backdrop where digital transformation can significantly impact business operations. This article explores the […]

How to Determine an FYE for a New Company in Singapore: A Comprehensive Guide

Determining the Financial Year End (FYE) for your new company in Singapore is a critical decision that impacts financial reporting, tax obligations, and compliance with regulatory authorities such as ACRA and IRAS. Here’s a detailed guide to help you navigate this process effectively. Understanding Financial Year End (FYE) The FYE marks the end of your […]

Understanding Business Structures and Their Tax Implications in Singapore

Choosing the right business structure is crucial for entrepreneurs in Singapore, as it not only impacts operational aspects but also determines tax obligations. Here’s an in-depth look at the primary business structures in Singapore and their corresponding tax implications, including specific details about the Start-up Tax Exemption scheme: 1. Sole Proprietorship: 2. Partnership: 3. Private […]

Registering a Company in Singapore: A Step-by-Step Guide

Registering a company in Singapore involves several straightforward steps. Here’s a step-by-step guide to help you through the process: Image’s source: enterslice.com Step 1: Choose a Business Structure Singapore offers several types of business structures, each with its own characteristics and implications for ownership, liability, and tax obligations: Image’s source: accountingservices.sg Here are some government […]

The Rising Cost of Compliance for Businesses in Singapore

Singapore, often hailed as a pioneer of economic success and stability in Southeast Asia, boasts a thriving business environment. However, behind the facade of its economic prosperity lies a complex regulatory landscape that businesses must navigate. As regulations evolve and become increasingly stricter, the cost of compliance for businesses in Singapore is rising, posing challenges […]

What is the biggest hurdle in corporate accounting for Singaporean companies?

Good afternoon, this is Tilkoblet Singapore.According to ACRA’s 2022/2023 Annual Report, as of March 2023, there are 575,000 businesses operating in Singapore, managed by 1,210 certified public accountants and 720 public accounting firms.https://www.acra.gov.sg/docs/default-source/default-document-library/acra-annual-report-2022-2023.pdfAmong the Commonwealth nations in East Asia, Hong Kong still holds the top position in terms of the number of registered businesses. However, […]

Singapore Corporation, risk of significant data leakage?!

Good afternoon, this is Tilkoblet Singapore.There has been an explosion in inquiries from companies recently preparing or considering establishing a corporation in Singapore.With increasing concerns about the economic outlook in China and sudden declines in the Hong Kong economy, many companies are contemplating to relocate from Hong Kong to Singapore. Singapore’s per capita GDP hit […]