Gross Turnover Audit (GTO Audit) – Ensuring Compliance and Accuracy A Gross Turnover Audit (GTO Audit) is a specialized audit focused on a Licensee’s gross sales turnover, as outlined in the Lease Agreement for operating a business under the Licensor’s terms in Singapore. This audit is mandatory for retailers and commercial real estate agents in … Read more
How to Convert a Sole Proprietorship to a Private Limited Company in Singapore Singapore continues to thrive as a global hub for innovation and entrepreneurship. Although global giants like Microsoft, BMW, and Cisco have established a strong presence in Singapore, over 25% of registered entities in the country are sole proprietorships or partnerships. Many entrepreneurs … Read more
Tax Advisory Services In Singapore Stay Compliant, Minimise Risk, and Maximise Tax Efficiency with Local Experts Tax compliance is more than a regulatory requirement—it’s a cornerstone of business credibility. At WLP, our Singapore-based tax advisory services are designed to support your long-term business success by ensuring full compliance with local regulations while optimising available tax … Read more
How to Close a Company in Singapore Key Takeaways In Singapore, there are two primary methods for closing a company: Striking Off and Winding Up. There are three types of winding up procedures: Members’ Voluntary Winding Up, Creditors’ Voluntary Winding Up, and Compulsory Winding Up. Striking off is usually more cost-effective as it avoids liquidation … Read more
Cash Flow Statement for Startups: A Vital Tool for Business Success Cash flow is a critical aspect of any business, ensuring liquidity and the ability to meet financial obligations. Even if your business is profitable, inadequate cash flow can jeopardize its operations. A well-structured cash flow statement is essential for managing cash flows in startups, … Read more
A Guide to Employee Stock Options (ESOPs) in Singapore Employee Stock Option Plans (ESOPs) are a widely used employee benefit in Singapore, enabling employees to purchase company shares at a predetermined price within a set timeframe. In this guide, we explore the fundamentals of ESOPs, how they function, and the mutual benefits they offer to … Read more
Audit Services At WLP, audit services form the foundation of how we serve our clients and the public interest—by fostering trust and confidence in financial reporting. Our multidisciplinary teams deliver high-quality audits that drive transparency, offer value, and consistently provide exceptional service. How WLP Can Support You The audit landscape is changing rapidly—shaped by evolving … Read more
How to Sell Your Business in Singapore: A 4-Step Guide If you’re a business owner planning to retire or shift focus to a new venture, it might be time to sell your business. Selling an entire business differs from selling shares, as the buyer assumes responsibility for both assets and liabilities, as specified in the … Read more
Selling Your Singapore Business: A Seamless Transition Maximize the value of your business with expert support. We’ll assist you in preparing your business for sale, finding the ideal buyer, and negotiating a price that truly reflects the dedication and effort you’ve invested. We simplify the complexities of the sales process. Selling your business is both … Read more
The Ultimate Guide to Filing Annual Returns in Singapore Filing annual returns with the Accounting and Corporate Regulatory Authority (ACRA) is a crucial aspect of corporate governance for companies in Singapore. It is not only a legal obligation but also an important step in maintaining the company’s transparency, accountability, and long-term sustainability. Though it might … Read more
Guide to Purchasing a Business in Singapore In today’s competitive business environment, aspiring entrepreneurs often face the choice of whether to start a new business or purchase an existing one. While both options have their benefits, buying an established business can offer several clear advantages. How to Buy a Business Step 1: Identifying Potential Targets … Read more
Can I Use a Company to Buy Residential Property in Singapore? Yes, a company can purchase residential property in Singapore. However, it’s important to understand the significant costs and regulatory implications involved. Key Considerations: Additional Buyer’s Stamp Duty (ABSD): Companies are subject to ABSD when acquiring residential property—much higher than the rates applicable to individuals. … Read more