Who is a Tax Agent?
An oversea prospect client was asking me yesterday about the significance of Tax Agent in Singapore : – who are they & how are they working with Inland Revenue Authority of Singapore on tax compliances and tax obligations ? Let me share some insights here… A tax agent is a person who prepares the […]
Goods & Services Tax (GST)
Recently we have received a few enquiries regarding Goods & Services Tax (GST), how does it impact business cost, compliance cost, bookkeeping workflow, and why there is a saying for GST registration – “when you are in, you are out”… What It Is and How It Works ? * GST is a broad-based […]
Do Not Treat Your Quarterly GST Submissions Lightly!
Ignorance of the law is not an Excuse… Below are 2 common areas of GST filing mistakes, hope they can help you be more aware : (1) Disallowed Input GST Tax Claims Regulations 26 and 27 of the GST (General) Regulations do not allow the following expenses to be claimed as input tax: […]
Feeling The Urge To De-Register GST To Stay Competitive Or Conserve Your Cash Flow?
I received some enquiries recently on de-registering GST to remain competitive, increase their bottom line and to conserve some cash. Consider this… Eg 1) You are in the F&B industry, and by charging GST on a cup of coffee you are selling would render your pricing not competitive in the vicinity. Eg 2) […]
Avoid These Common Accounting Mistakes
At Corporate BackOffice Pte Ltd, we understand that accurate accounting is crucial for the financial health of any business. However, even the most diligent business owners can sometimes make mistakes that could have significant implications. Here’s a guide to common accounting mistakes to avoid, classified into different categories to help you stay on track. 1. […]
Payroll & HR Admin
Our payroll services offer an efficient solution to streamline your payroll process while prioritising accuracy and ensuring timely payment for your employees. We understand that your employees are your greatest asset, and we strive to provide exceptional service to minimise errors and maximise productivity.
Story Of How CBO Saved Many Very Successful Business Owners Having Neglected Their “BackOffice” And Ended Up On The Other Side Of The Laws
My corporate service firm – Corporate BackOffice or CBO in short – encountered many business owner clients who had started their business ventures, and after having proven the Concept of their Business Models, they would start to embark on an expansionary path via organic means by setting up few more new companies, and also […]
Keeping Proper Transaction Trails
There are many start-ups which focused too much on their initial operational start up actions which they have neglected on keeping proper transaction trails, which many regretted thereafter. Many startup business owners will neglect the importance of keeping proper transaction trails as the initial transactions were insignificant. They started off their business with bad […]
SRS Contributions
The Supplementary Retirement Scheme (SRS) is a voluntary scheme to encourage individuals to save for retirement, over and above their CPF savings. Contributions to SRS are eligible for tax relief. Investment returns are tax-free before withdrawal and only 50% of the withdrawals from SRS are taxable at retirement. Qualifying for SRS Contributions : […]
How To Set Up A Branch Office In Singapore?
GENERAL CHARACTERISTICS If a foreign corporation does not want to incorporate a company in Singpore, it must first be registered as a branch in order to carry on business under the corporate title of the foreign corporation. Legally a branch of a foreign company is only an extension of its Head Office and […]
