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successful and profitable business. You will find
many gems on how to run your business profitably.
For Business Owners and those
who plan to start their businesses
If you run a business or plan to run one, you must be wary about the following typical statutory
Accounting and bookkeeping
Proper accounting and sets of books must be kept according to Company Act and Income Tax Act. Depending on the
volume of transactions, you can do the following:
a. Do it yourself if you are trained in accounts.
b. Employ accounting staff.
Many SMEs failed to keep proper accounts and get themselves into big trouble with IRAS and ACRA. If you
require part-time bookkeeper / accountant to handle your accounts, please email us.
There are only two certainty in life -- tax and death. If your company is making money, you need to pay tax to
IRAS. You may need to consult a tax agent to help you file the tax returns.
Annual Return (AR) and XBRL
All private limited (exempted and non exempted) must file AR within the stipulated period (normally within 6 months
after year end must hold AGM and within 14 days from AGM date must file AR). Failure to comply with this
requirement will resulted in penalty from ACRA. If the company continues to fail to file the AR for long time,
court summon will be issued to the directors.
If you face concerns about accounting,
bookkeeping, tax and ACRA matters, you can get a free consultation from us (with no obligation). We have CPAs and
lawyers to back us up as and when required.
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Bema Seat Management