ACRA Rule Changes from 16 June 2025: What Every Singapore Business Needs to Know Key Regulatory Updates and Deadlines Singapore has introduced significant amendments under the Companies and Limited Liability Partnerships (Miscellaneous Amendments) Act 2024 (CLLPMA), effective 16 June 2025. These changes are designed to enhance corporate governance, transparency, and AML/CFT standards. 1. Register of … Read more
Maximise Your Singapore Company Formation with a Tax‑Savvy Company Secretary Why a Company Secretary Matters in Singapore Entering the Singapore business landscape brings abundant growth opportunities—but navigating incorporation can be complex. Skilled company secretaries are indispensable, especially those well-versed in taxation. They ensure you choose the optimal corporate structure, meet regulatory requirements, and capitalise on … Read more
Singapore Dividends: A Comprehensive Guide 1. What Are Dividends in Singapore? Dividends are distributions of a company’s after-tax profits to its shareholders. They’re typically issued in cash, but can also be in the form of additional shares—especially in exceptional or special circumstances. These payouts are proportionate to each shareholder’s ownership stake. 2. Dividend Taxation Under … Read more
How to Find Your Company’s SSIC Code What Is an SSIC Code—and Why It Matters in Singapore The Singapore Standard Industrial Classification (SSIC) system, managed by ACRA, classifies businesses according to their economic activities. Having the right SSIC code is crucial for several reasons: It determines whether your company requires specific licences (e.g., hotels, media, … Read more
How to Start a Sole Proprietorship or Partnership in Singapore: A Comprehensive Guide Singapore, renowned for its business-friendly environment and strong economy, remains a top destination for entrepreneurs looking to start a business. Whether you’re planning to start as a sole proprietor or partner with others, understanding the steps to set up your business in … Read more
How to Avoid Double Taxation in Singapore: A Complete Guide Double taxation is a situation where an individual or business is taxed on the same income or financial transactions in more than one jurisdiction. For expatriates, businesses, and individuals in Singapore, understanding how to avoid double taxation is crucial for optimizing tax liabilities. This comprehensive … Read more
Why Your Business Needs Accounting Services in Singapore: Insights by WLP In today’s fast-paced business environment, accounting is more than just a number-crunching task—it’s a vital part of ensuring your business’s growth, compliance, and financial health. For companies in Singapore, the need for professional accounting services has never been more important. Partnering with a reliable … Read more
A Complete Guide to Understanding Estimated Chargeable Income (ECI) in Singapore: What You Need to Know When running a business in Singapore, one of the key responsibilities you have is to accurately calculate your Estimated Chargeable Income (ECI). Failing to do so can result in penalties and unnecessary complications with the Inland Revenue Authority of … Read more
Unlocking Financial Growth: A Strategic Guide for Business Owners In the dynamic world of business, understanding how to effectively manage and grow your finances is crucial. As an accounting firm committed to your financial success, we aim to provide insights that go beyond traditional accounting practices. 1. Focus on Revenue Growth The foundation of … Read more
Understanding Taxable and Non-Taxable Income in Singapore: A Comprehensive Guide Navigating Singapore’s tax landscape can be complex, especially when distinguishing between taxable and non-taxable income. Whether you’re an individual taxpayer or a business owner, understanding these distinctions is crucial for compliance and effective financial planning. What Is Taxable Income in Singapore? Taxable income refers … Read more