Why You Should Outsource Your Accounting Functions

As a business owner, you have invested significant efforts into growing your company. But the tax deadlines, payroll, invoices, receipts, and spreadsheets are confusing you. This is where the critical role of an outsourced accountant comes into play, helping you relieve these time-consuming tasks. Many businesses outsource their accounting duties to specialised professionals in order […]

Keeping Your Business Afloat: Tips for Small Business Entrepreneurs

According to the Singapore Department of Statistics, the city-state’s Small and Medium-sized Enterprises account for around two-thirds of employment. They constitute 99 percent of all enterprises and contribute nearly half of the country’s gross domestic product. Increasingly, most SMEs in Singapore struggle to innovate and understand their customers. This becomes the top risk, followed by […]

9 Mistakes to Avoid in Outsourcing Accounting Services

Although accounting is a crucial part of every business, it is often not the main focus of most firms. However, with outsourced support, your accounting and finance department may contribute to the expansion and cost-cutting that your company needs to succeed. With outsourcing, you have access to a global talent pool and find the best […]

How Improved Carbon Tax Affects Businesses in Singapore

In recent years, many countries have begun to take action on climate change. In the process, carbon taxes and other related measures have gained traction to discourage businesses from investing in activities that produce significant greenhouse gas emissions.  Intending to encourage businesses to adopt climate-friendly practices while raising funds for green initiatives, Singapore introduced the […]

Singapore Charges Income Tax For NFT Deals: What To Expect

Finance Minister Lawrence Wong announced that non-fungible tokens (NFT) trading would be taxed under existing income tax standards. Notably, the city-state has no capital gains tax framework. Hence, a tax haven for capital gains in stocks and crypto assets. Singapore’s Income Taxes The absence of capital gains taxes from Singapore’s tax framework has made the […]

How S$500 Million Budget is Used to Jumpstart Tourism in Singapore

As global borders begin to open again, Singapore is seizing this opportunity to promote its tourism. In doing so, the government is setting aside S$500 million to kickstart the tourism sector. Tourism Initiatives The budget will be divided among different government initiatives to encourage more tourists to enter the country. These initiatives include new attractions […]