Accounting is the recording of financial transactions plus storing, sorting, retrieving, summarising, and presenting the information in various reports and analyses.

One part of accounting focuses on presenting the information in the form of general-purpose financial statements (balance sheet, income statement, etc.) to people outside of the company. In Singapore, these external reports must be prepared in accordance with financial reporting standards of Singapore (FRS)

Have you heard of the Productivity and Innovation Credit (PIC) scheme? Are you confused by the following: 
1. Cash payout applications
2. PIC Bonus
3. PIC+ scheme

Let us help you understand the scheme better and advice you on how it applies to your company. 
Do give us a call at +65 9199 3243 or email us at shamala@mss-consultancy.com. 
 

The Employment Pass allows foreign professionals to work in Singapore. The applicants will need to earn at least $3,300 and possess acceptable qualification and experience. There is no limit to the number of Employment Passes that can be issued to a company. 
Each Employment Pass can be valid for 1 or 2 years, and is renewable as long as the pass holder remains employed in the company. We can assist to complete your documentation and review your application, however, there is no assurance on the pass being approved or rejected. The result of the application depends completely on the discretion of the MOM officer. MOM will look into the credentials of the company and the applicant. Therefore, it is very important to get all the required documents completed and submitted with MOM. If you require assistance or would like more information pertaining to Employment Pass applications, please write to us at sumathi@mss-consultancy.com or contact +65 81814404.

An Exempt Private Company (EPC) is a private company which has at most 20 shareholders. No corporation holds (directly or indirectly) any beneficial interest in the EPC's shares.

EPC with revenue not more than S$5 million for the financial year starting on or after 1 June 2004 is exempted from audit but instead, they are required to prepare unaudited accounts for purposes of AGMs and filing with ACRA.

To know more feel free to contact us at Mrinal@mss-consultancy.com or call +65 94515706.

The hardest thing in the world to understand is the income tax - Albert Einstein. 

Einsteins we are not. Trust us with your income tax needs, be they Corporate tax, Personal tax or Goods and Services Tax. Do give us a call at +65 9199 3243 or email us at shamala@mss-consultancy.com

According to the Doing Business 2012 Report by the World Bank, Singapore is the easiest place in the world to conduct business. Singapore is one of the biggest financial hubs in Singapore. It is a huge player in world trade and has the world’s fifth busiest seaport. As a leading financial center it provides a very attractive location for the establishment of a corporate presence. Some of the reasons that makes Singapore attractive to foreign Entrepreneurs and firms are:

1.     Excellent location: Singapore is situated in the heart of southeast Asia.  Singapore’s port is one of the busiest in the world, and the country is classified as a premier International Maritime Center.

2.     Easy and Simple to Incorporate a business: Singapore is the easiest place in the world to set up and manage a business. If all the documentation is complete, it takes only 1-2 days to incorporate the company.

3.     Taxation structure- low effective personal and corporate tax rates. Effective corporate tax rate for Singapore private limited companies for profits up to $S300,000 is below 9% and capped at a flat rate of 17% for profits above $S300,000. There are no capital gains taxes in Singapore, dividends can be distributed to its shareholders tax-free.

4.     Immigration: If you are an entrepreneur who needs to relocate to Singapore to run your business or need to hire foreign professionals, necessary work pass can be applied to Ministry of Manpower.

5.     Transparent and stable government

If you want to enjoy the benefits of setting up in Singapore, please write to us.