A $33m Mess due to Corporate Governance failure
Edgar Wong of Asiaf1rst, was interviewed by Howie Lim, Senior Producer/Presenter, Money FM 89.3 on 16 April 2019. Here are some of the talking points:- What are the trends driving disruption in the accounting industry? What is the future of accounting firms? How can accounting firms help their clients embrace disruption? Does every small business […]
For the first two Years of Assessment (YA), client (a company) has a single corporate shareholder. This would mean that client did not qualify for full tax exemption. For the 3rd YA, its corporate shareholder sold its shares to two individuals on the very day of the basis period. Question – Does the client qualify […]
In ST’s “Making sense of financial statements amid rule changes” by Reinhard Klemmer, highlighted the changes since 2018 and the consequential impact of these changes. What are the changes? ——————————————————————- i) In 2018, Singapore transitioned from local to International Financial Reporting Standards (IFRS), also known as Singapore Financial Reporting Standards (International) (SFRS (I)). Applicable to […]
Apparently, a tuition centre and second-hand car trader conveniently forget to register for GST!!! The law says, “All businesses, including individuals deriving income from their trade, profession or vocation, should closely monitor their income and regularly assess if they need to register for GST. If their past 12-month taxable turnover has exceeded $1 million at the […]
3 factors behind Singapore’s success as a Business Hub
Is Hyflux a PURE commercial failure?
We just want to know what happened, learn from the unfortunate incidents and hopefully never to let it happen again.