Director and Nine Employees of Jewellery Business Convicted for Conspiring in Assisting Tourists to Obtain GST Tourist Refunds Unlawfully
Singapore: Woo Sin Chai (“Woo”), a 61-year-old director of a jewellery retailer, Arthesdam Jewellery Pte Ltd (“Arthesdam”), has been convicted today of offences under the GST (General) Regulations (“the Regulations”) and ordered by the Court to pay a total fine of $104,400 for abetting by conspiracy with other employees of Arthesdam to assist certain tourists[1] […]
Businessman Convicted of Multiple Offences Including Tax Evasion, Failure to Register for GST and PIC Fraud
Singapore: Ang Leong Siong (“Ang”), a 44-year-old sole proprietor of Nice Vision Optical (“NVO”) and a partner of Eyes to Eyes (“E2E”), has been convicted of multiple offences, including Income Tax and Goods and Services Tax (“GST”) evasion, the failure to notify the Inland Revenue Authority of Singapore (“IRAS”) of E2E’s liability to register for […]
Protect Your Company’s Intellectual Property By Incorporating in Singapore
Starting and growing a business is one of the many thrills of being an entrepreneur. However, being an innovator or in the creative business means you need to do more to protect your ideas from being copied or stolen. There are very few countries that take intellectual property as seriously as Singapore. As a result, […]
How to Set Up a Non-Profit Organisation in Singapore?
Singapore is home to at least 140 non-profit organisations (NPOs), with more still on the horizon. Although the statutory obligations for registration and operations are demanding, many more NPOs are making Singapore their headquarters because of its global connectivity, business-friendly ecosystem, and multi-racial population. However, without registering with the appropriate authorities in Singapore, NPOs can […]
Setting Up A Non-Profit Entity in Singapore: 5 Things You Need to Keep in Mind
When incorporating a non-profit entity (NPE) in Singapore, being aware and having the right information is critical. Apart from saving you precious time, you also get to avoid things that can bring your dream crashing down in no time. Non-profit organisations in Singapore are not established for the purpose of conducting business. Therefore, even if they […]
Can I Change My Business Name After Incorporation in Singapore
“Words have meaning, but names? They have power- the power to change, the power to tell, the power to navigate success.” If your business has changed and evolved with time, it will eventually need a new name that aligns with its level of success and novel perspectives. Because your company’s name is its identity, it […]
Options to Form Your Company’s Shareholders Structure
While you focus most of your efforts on developing a new product or service for your firm, you should also pay particular attention to your company’s shareholders structure and how you split ownership among its founders, investors, and workers. This is to avoid losing control of your business, which is especially important when diluting ownership […]
Filing Requirements for Companies in Singapore
There are certain filing requirements and obligations that all companies in Singapore must comply with every year, regardless of their activity level, size, or business structure. As you read on, you will see filing requirements and how you can prepare them. Filing Requirements For Companies Preparing Financial Statements If your company carries out many transactions […]
6 Reasons Why Start-ups Fail in Singapore
Singapore is ranked among the top of the most startup-friendly nations in Asia. It offers start-up grants and loans to help promote entrepreneurial spirit. It further provides incentives, low tax rates, and sometimes exemptions, as well as tax rebates. As a top Asian economy, Singapore is a one-stop destination for foreign investors and companies. Not […]
What are the Key Considerations for a Registered Office Address in Singapore?
You have to follow many mandatory requirements when establishing your business in Singapore. The purpose of those mandatory requirements is to keep your entity compliant with Singapore regulations. Section 142(1) of the Companies Act, Cap. 50 makes it mandatory for all companies to have a duly registered office address in Singapore during company incorporation. Criteria […]
