5 Time-Saving Bookkeeping Shortcuts Using Xero Unlock Efficiency and Grow with WLP Bookkeeping forms the foundation of every successful business—but it doesn’t have to be time-consuming or overwhelming. In today’s fast-paced business environment, embracing technology is key to staying ahead. That’s where Xero comes in. As a leading cloud-based accounting platform, Xero transforms the way … Read more
Thinking of using online company registration services in Singapore? Singapore is consistently ranked as one of the best places in the world to start and operate a business. With its strategic location, pro-business tax policies, robust economy, and political stability, it’s no surprise that Singapore is also a thriving global hub for start-ups. As the … Read more
Preparing Company Tax Computation What is a Tax Computation? A tax computation is a financial document used to adjust a company’s accounting profit to arrive at the income that is taxable under Singapore law. These adjustments account for non-deductible expenses, non-taxable income, further deductions, and capital allowances, among other items. Companies are required to prepare … Read more
How to Set Up a Holding Company in Singapore: A Complete Guide A holding company serves as a parent entity that owns assets, shares, or interests in other businesses, but it doesn’t sell goods or services. This makes it simpler to establish, especially for international founders. If you’re considering starting one, this guide explains what … Read more
Singapore Revenue Authority Announces GST InvoiceNow Requirement On 15 April 2024, the Inland Revenue Authority of Singapore (IRAS) introduced the GST InvoiceNow requirement, which mandates that GST-registered businesses transmit invoice data directly to the IRAS through InvoiceNow solutions. Phased Implementation To provide businesses with ample time for adoption, the GST InvoiceNow Requirement will be rolled … Read more
Guide to Applying for a Certificate of Residence (COR) in Singapore A Certificate of Residence (COR) verifies your tax residency status in Singapore, allowing you to access tax benefits and reliefs under Double Taxation Agreements (DTAs). For businesses, a COR is crucial to prove your tax residency in Singapore, helping you avoid being taxed twice … Read more
Financial Forecasting for New Businesses (Startups) Unlock your startup’s full potential with the power of financial forecasting. With accurate insights into your financial future, you can make smarter decisions and attract the right investors. At WLP, we provide the tools to guide your startup toward long-term financial success. Why Financial Forecasting Matters for Startups Starting … Read more
Preparing for the GST ASK Review Overview While the concept of Goods and Services Tax (GST) may seem straightforward, compliance can be quite complex. Through our Assisted Self-help Kit (ASK) Annual Reviews, conducted in line with guidelines from the Inland Revenue Authority of Singapore (IRAS), we’ve consistently identified errors in nearly every case we’ve handled. … Read more
Manage Your Project Costs with Xero’s Job Costing Software – and Get Help from WLP Keep your projects profitable and under control with Xero’s intuitive job costing software—designed specifically for small businesses. Accurately track project costs, generate quotes with confidence, and monitor profitability in real time. Manage everything in one place, and use the Xero … Read more
5 Essential Questions to Ask Your Accountant at Tax Time in Singapore Tax season in Singapore is more than just a compliance exercise—it’s a strategic moment to strengthen your business. Your annual meeting with your accountant is a valuable opportunity to get expert tax advice, address any uncertainties, and stay updated on new regulations that … Read more