You may have just started a business in Singapore, and are not familiar with all the requirements every business must compile to. Here are 10 of the most important compliance requirements you need to adhere to.
Category: Corporate Compliance
Commonly know in other countries as Value-Added Tax (VAT), GST is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs), as well as nearly all supplies of goods and services in Singapore. GST is an indirect tax, expressed as a percentage (7% as of time written) applied to the selling price of goods and services provided by GST registered business entities in Singapore.
Depending on the nature of business you run, you may require a business license or permit for business operations. Licensing can be obtained when registering your company with the Accounting and Corporate Regulatory Authority (ACRA).
Find out about what is needs be done during your Annual Filing with ACRA.
Every company must appoint a company secretary within 6 months of its incorporation. The company secretary will be the primary officer in charge of numerous administrative and reporting responsibilities a company is required to adhere to by law.