Important End of the Year Tax Strategies for Entrepreneurs
For entrepreneurs in all sectors, the end of the year attracts a few must-do tasks in which taxation is included. Your plan for the next business year should be drafted as well as the closure of your books. Most importantly, this period is when most…
When Do You Have To Cut Business Expenses?
Business expenses are some ordinary and necessary costs that businesses incur for them to function and operate fully. Many businesses need to adequately categorize their expenditures because the expenditures take various forms, such as rent, utilities, insurance, company car, equipment, equipment rental, and software. The…
5 Important Accounting Terms You Should Know as a Business Owner
As a business owner, your knowledge extends beyond the services or products you offer. There are more things you need to learn about. The reason is that some aspects of your business which you outsource require that you have enough knowledge of the processes involved….
The Complete Checklist for A Good Tax Day
We’d agree that filling your tax returns could sometimes take a day or two off your busy weekly schedule. Of course, it makes sense that you make the most of this day or days to avoid rescheduling. Yes, the e-filling process requires submitting several documents…
5 Practical Tips on Reducing Business Expenses
It is hard to determine, exactly, what the future of world economies hold; we only have predictions here and there. One thing is certain, however, businesses will proceed unending and transactions abound. To make maximum profit, an entrepreneur has to intelligently organize the factors of…
Tips on Hiring the Right Accountant
It may seem like your business needs a new accounting firm. It’s either never had one or the previous one didn’t live up to expectations. You’ve got no other option than to get an even better accounting firm. However, it’s never that easy. An accounting…
Tips for Reducing Business Expenses
When it comes to tips for reducing business expenses? Every entrepreneur is always looking for the best tips. Every business, irrespective of its size or type, is established with the primary aim of making profits. One of the proven ways to help businesses achieve this…
Singapore Tax vs Malaysia Tax
Singapore and Malaysia, both nations located in South East Asia, compete with one another to attract business and investment. A key determinant for setting up a business in a given jurisdiction is the tax regime in force. The taxation comparison between Malaysia and Singapore has…
How to Get Ready for GST Reverse Charge?
With the advent of technology, businesses in Singapore may increasingly procure services from overseas that in the past could only be supplied by local service providers. Under the current GST regime, a supply of services (other than an exempt supply) procured from a local GST-registered…
GST: Customer Accounting for Prescribed Goods
Customer accounting for certain prescribed goods will be implemented from 1 Jan 2019 to deter fraud schemes where the seller absconds with the GST collected, but businesses further down the supply chain continue to claim the input tax. It will apply to supplies of mobile…