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  The experts advise business owners not to make any mistakes in their Singapore tax filing. However, the fact is they do happen. Singapore tax filing is a sensitive issue, and even genuine errors in it can get you hauled in front of authorities and tarnish your business's brand image, customer relationship, revenue, and growth potential. The due dates and tasks related to statutory compliance give small business owners sleepless nights. It stresses them no end. It is the reason why many of them enlist reliable providers of taxation services in Singapore. Let us see a few commonly occurring mistakes in Singapore tax filing that you, as a business owner, must avoid. Not Separating Your Business and Personal Expenses It is a good practice to separate your personal and business expenses. Because you are required to pay taxes on their revenue received from the sale of services and products. However, you need to deduct profit, business costs, and allowable business expenses from the rev...

  Outsourcing to one of the accounting firms in Singapore works. Ultimately, it gives you free space to work diligently on boosting your revenue and bottom line. You no longer have to deal with this non-core administrative task, especially if you are not interested in doing it.  Why Companies Appoint Accounting Firms in Singapore There are many reasons for a small business to hire an accounting firm Singapore. Let us read the most pertinent ones. Effective Use of Time Outsourcing your accounting tasks essentially frees up your time. Accountants from your chosen accounting firm Singapore work to ensure your compliance. You get to devote saved time to the core goals of your business, like planning an effective marketing campaign or adding value to your product or services. Reduce Your Costs An in-house accounting department can eat into your meagre resources. Accountant's salary, prime office space, hardware, software, and internet connection costs dearly. After outsourcing to a...

  Company Incorporation is Easy in Singapore-Blog Is it easy to relocate or start a new business in Singapore? Yes, it is. Anyone over 18 years of age can successfully do company incorporation in Singapore. Even as a foreign entrepreneur, you can easily complete your business incorporation in Singapore. But, you will need the assistance of company incorporation services Singapore. Procedure for Company Incorporation in Singapore Company incorporation in Singapore is an online process. The authorities have streamlined it (only 2 steps) and made it easy. If you are a local, you can start it by visiting the BizFile+ web portal. However, many Singaporean business owners appoint company incorporation services in Singapore for the task. You need to apply to Accounting and Corporate Regulatory Authority (ACRA). It is the Company Registrar of Singapore and governs the companies in Singapore. Step 1# Register Company Name During the first step, your agent applies to ACRA and registers your ...

  Regular bookkeeping and accounting of books are an integral part of business management. It ensures your statutory compliance mandated by the ACRA. You also come to know how your business is doing financially. If required, you should appoint a professional bookkeeping service provider to see to it. Bookkeeping is more than just filing your receipts and invoices appropriately and digitizing the financial data they carry. Reliable bookkeeping services for small businesses can make your task easy by offering services like: Preparation of P & L statements Preparation of Balance Sheet Statement Maintaining Fixed Assets Ledger General Account Filing Account Reconciliation Preparation of XBRL Statements Preparation of Cash Flow Statements Financial Analysis (weekly, quarterly, monthly, & yearly) Singapore Financial Reporting Standards (SFRS) Services Preparation of Directors’ Report Trust in a Bookkeeping Services for Small Business DIY Bookkeeping It is natural for newbie owner...

  Appointing one of the bookkeeping services companies in Singapore is the easiest way of dealing with your business' bookkeeping and accounting tasks. It is very accurate if you are not regular in updating your business' books of accounts. It is understandable. Finding enough time for the task is a bit difficult for many multi-tasking small business owners. However, the due date for tax filing is set for 30 Nov 21. And it is fast approaching. It is one of those times when you rely on expert help rendered by one of the bookkeeping services companies in Singapore. Let the experts do their magic. The best bookkeeping service provider employs expert bookkeepers and accountants who can take up your workload and streamline your books in no time. They know how to your compliance by sticking to Singapore financial reporting standards. On the other hand, if you think hiring a bookkeeping service firm is an extra expense and intend to DIY your business' bookkeeping, first, read the ...