The Accounting Equation (Assets, Liabilities & Equity)

Tax Avoidance and Tax Evasion

Most entrepreneurs do not fancy paying taxes although paying taxes is the mandatory responsibility of all income maker under the legislation in Singapore. “Tax avoidance” are usually used in a way “tax evasion” does in the business circle (especially by those does not have tax background), they are of highly distinctive in nature. If you […]

The Accounting Equation (Assets, Liabilities & Equity)

How to Ensure You Are Meeting Regulatory Compliance

One of an entrepreneur’s worst nightmares is locking horns with regulatory agencies. It is not only draining to business activity but also causes anxiety amongst staff and dampens the spirits of entrepreneurs. However, regulations are there to ensure fairness and cohesiveness. A successful business is not only prosperous on the financials but also with its […]

The Accounting Equation (Assets, Liabilities & Equity)

A Short Guide to Corporate Taxing in Singapore

Singapore is a clean and safe city offering quality lifestyle. Singapore’s leading appeal for businesses is its attractive tax systems for both individuals and corporate entities, and it is one of the leading international financial centres in the region. Incorporating a company into Singapore can provide a tax efficient corporate structure conducive to conducting international […]

The Accounting Equation (Assets, Liabilities & Equity)

All You Need To Know About Goods and Services Tax in Accounting

Goods and Services Tax (GST) accounting is basic accounting that involves liabilities accounts like GST payable, cash and sales revenue, assets, and income. Note that current liability account is used to record the output tax collected. GST accounts and accounts payable are both current liability accounts. The difference is that account payable accounts for invoices […]

The Accounting Equation (Assets, Liabilities & Equity)

Accounting – FRS12: Income Taxes

The primary objective of the FRS 12 is to offer guidelines regarding how you should treat income taxes when it comes to accounting. It is known that the major issue with accounting for income taxes is how to recognize the current and future consequences of the following: The future settlement or recovery of the carrying […]

The Accounting Equation (Assets, Liabilities & Equity)

Corporate Taxation in Singapore

Singapore is highly regarded for its taxation system. Its various tax incentives and competitive tax rates continue to impress and attract foreign investments. As a result, its commercial industry propels the country as a global investment hub. Take a look at Singapore’s taxation system. Competitive tax rates To consistently be an attractive business destination, Singapore […]