Airwallex Review: Revolutionising Global Finance for Singapore Businesses As a Singapore business owner, navigating international transactions efficiently is crucial for success. Airwallex, a rising fintech star, offers innovative solutions that could transform your cross-border financial operations. Let’s explore how Airwallex can benefit your Singapore-based company. What is Airwallex? Founded in 2015, Airwallex has quickly become... The post Airwallex Review: Revolutionising Global Finance for Singapore Businesses appeared first on Welcome to Counto Singapore ..read more

The Art of Minute-Taking: Why It’s More Important Than You Think As a small business owner in Singapore, you might view minute-taking as a mundane task during a shareholders’ or directors’ meeting. However, at Counto, we’ve seen how well-crafted minutes can be a powerful tool for your business. Let’s explore why minute-taking is an art worth undertaking and how it can benefit your company. The Importance of Minute-Taking 1. Legal Compliance In Singapore, the Companies Act requires all companies to keep minutes of proceedings at the Annual General Meeting (AGM). These minutes must be recorded w ..read more

Shareholders’ Agreements: Essential Protection for Singapore Small Businesses As a Singapore small business owner, have you considered the crucial role of a shareholders’ agreement? At Counto, our company secretary service often finds this vital document overlooked. Yet, it’s key to protecting your business and fostering shareholder harmony.  While not mandatory under Singapore law, a well-crafted shareholders’ agreement complements your company’s constitution, offering tailored governance that aligns with the Companies Act and relevant regulations.  Let’s explore why your small busi ..read more

The Hidden Risks of DIY Corporate Secretarial Work: Why Professional Help Matters As a small business owner in Singapore, you’re likely accustomed to wearing many hats. While the do-it-yourself approach can be cost-effective in some areas, corporate compliance is one realm where a trusted company secretary service can be invaluable. At Counto, we’ve seen firsthand the pitfalls of DIY compliance. Let’s explore why seeking expert help is crucial for your business’s success and peace of mind. 1. The Complexity of Singapore’s Regulatory Landscape Singapore’s business regulations are known for thei ..read more

Navigating Corporate Income Tax Filing for Singapore Small Businesses: A Comprehensive Guide As a small business owner in Singapore, managing your finances effectively is crucial for success. One of the most important tasks you’ll face is filing your Corporate Income Tax. At Counto, we understand the complexities involved and are here to guide you through the process. Let’s explore the key aspects of corporate income tax filing and how you can ensure compliance while optimising your tax position. Who Needs to File Corporate Income Tax? A common misconception among small business owners is that ..read more

Understanding Per Diem Allowances for Singapore Small Businesses: 2024 Update As a small business owner in Singapore, managing employee travel expenses efficiently is crucial. At Counto, we’re committed to helping you understand and navigate the complexities of per diem allowances, especially with the recent updates for 2024. Let’s dive into the essentials of per diem allowances and how they apply to your business. What is a Per Diem Allowance? A per diem allowance is a fixed daily amount provided to employees for business-related travel expenses, covering meals, accommodation, and incidental ..read more

Common Business Expenses and Their Tax Deductibility in Singapore: A Guide for Small Business Owners As a small business owner in Singapore, understanding your business expenses and their tax deductibility is crucial for financial health and compliance. At Counto, we’re committed to helping you navigate these complexities. Let’s dive into the world of business expenses and how they impact your tax position. What Are Business Expenses? Business expenses are costs incurred in the ordinary course of running your business. For an expense to be considered deductible by the Inland Revenue Authority ..read more

Common Accounting Mistakes New Entrepreneurs Make (And How to Avoid Them) As a new entrepreneur in Singapore, you’re likely wearing many hats, from visionary to salesperson to accountant. At Counto, we understand the challenges you face, especially when it comes to managing your finances. Let’s explore some common accounting mistakes new business owners make and how you can avoid them. 1. Mixing Personal and Business Finances One of the most frequent errors we see is the blending of personal and business finances. This can lead to confusion come tax time and may even put your personal assets a ..read more

Tax Implications of Remote Work for Small Businesses in Singapore As a small business owner in Singapore embracing remote work, understanding the tax implications is crucial for compliance and financial planning. At Counto, we’re here to guide you through the key tax considerations for remote work arrangements. 1. Employee Taxation Singapore’s territorial tax system has specific implications for remote workers: Work Performed in Singapore: Income from employment exercised in Singapore is subject to tax, regardless of where it’s received or where the employer is located. Work Performed Outside ..read more

Understanding and Maximising R&D Tax Credits for Small Businesses As a small business owner in Singapore, you’re constantly seeking ways to innovate and stay competitive. What if we told you that your innovative efforts could lead to significant tax savings? At Counto, we’re committed to helping businesses like yours leverage every available financial advantage, including the often-overlooked Research and Development (R&D) tax credits. What Are R&D Tax Credits? R&D tax credits are a government incentive designed to encourage innovation among businesses. They provide tax relief ..read more