A Management Corporation Strata Title (MCST) is the management team that oversees a condominium or any property that has multiple owners and shared facilities. Not all facility management teams are equal. If you want to live in a condominium or work in an office that stays well-maintained through the years, you better choose a property … Read more
What Is Personalised Employment Pass? If you are looking for a work pass that allows you the freedom and flexibility to explore different work opportunities, the Singapore Personalized Employment Pass (PEP) will be the best fit for you. Not only does it offer more benefits than the standard Employment Pass, it will also allow you … Read more
What is a Singapore Entrepass? The Entrepreneur Pass, also known as the Entre pass, is a work visa for foreign entrepreneurs who are looking to incorporate a business in Singapore. If you are an aspiring entrepreneur looking for a country to set up your business, Singapore is the perfect destination for you to set up a local … Read more
Estimated Chargeable Income (ECI) is an estimate of the total taxable income for a given Year of Assessment (YA). ECI is calculated based on the total income, minus all tax-allowable expenses and other such deductions. Here are some important things that you need to know about ECI. Who needs to file ECI? All the companies … Read more
What Is Outsourcing Accounting? Outsourcing accounting services have become increasingly popular. Here are some reasons to branch out your accounting services globally. At the beginning phase, there is a massive set of responsibilities any new entrepreneur has to face. With so many operations to multi-task, it may be taxing and overwhelming for entrepreneurs to keep … Read more
Why Do Employers Are Required to File Form IR8A? IR8A is the reporting of employee’s earnings under IR8A, Appendix 8A / 8B and the IR8S. Employers in Singapore are lawfully required under S68(2) of the Income Tax Act to prepare Form IR8A, along with Appendix 8A, Appendix 8B or Form IR8S that are valid for … Read more
Why businesses should migrate their accounts to Xero? Want to move your accounting from Excel, MYOB, Quickbooks (Desktop & Online), SQL, UBS and Zoho to XERO cloud accounting system? WLP Singapore accounting firm can help you take care in migrating to XERO, setting up your online XERO Accounting and bringing your data over. Its simple. Migrate to XERO quickly and … Read more
What are Dividends? Dividends are the distribution of profits by a company to its shareholders. At the end of the financial year, the company’s board will assess the financial status of the company and decides if the company has performed well financially, and distribute payouts to the shareholders as final dividends. If the assessment is … Read more
What is Outsource? The term ‘outsourcing’ refers to help that is obtained from a foreign party. Many firms choose to implement outsource because the advantages outweigh the disadvantages. In today’s article, we will be sharing some of the advantages that a company can benefit from outsourcing their accounting department. Data Accuracy and Efficiency There are … Read more
Why business must go through incorporation? All business owners in Singapore carrying out any activity for profit on an ongoing basis must register a business with the Accounting & Corporate Regulatory Authority (ACRA) and abide by the Companies Act, Chapter 50. There are five main types of business structure to choose from, namely sole proprietorship, … Read more