Admin Understanding Tax Record Retention In Singapore, businesses and individuals alike are bound by certain regulations when it comes to retaining tax records. According to Section 67 of the Income Tax Act (Chapter 134), every person carrying on a trade, business, profession, or vocation is required to keep records of income and expenditure for a period … Read more
Opening a Bank Account in Singapore Understanding Local Laws Opening a bank account in Singapore, whether for personal or business purposes, requires a clear understanding of the legal landscape. The Banking Act (Chapter 19) governs the operations of banks in Singapore, and it is crucial for potential account holders to be aware of the statutory … Read more
Solutions for Managing Business Debt in Singapore Understanding Business Debt Business debt is a common aspect of operating a company, but it can become overwhelming if not managed properly. In Singapore, companies often take on debt to finance expansion, manage cash flow, or invest in new projects. According to the Singapore Companies Act (Cap. 50), … Read more
Introduction to Audit Requests In Singapore, the Inland Revenue Authority of Singapore (IRAS) conducts audits to ensure compliance with tax laws. These audits aim to verify the accuracy of tax declarations and assess any discrepancies. As a business or individual taxpayer, receiving an audit request can be daunting. Understanding the process and having a strategic … Read more
Introduction to Business Disputes Business disputes, both domestic and international, form a significant part of the corporate landscape in Singapore. With its strategic location, robust legal framework, and a reputation as a global financial hub, Singapore has become a preferred venue for resolving business disputes. The city-state’s legal system is underpinned by principles of fairness, … Read more
Cost Considerations for International Legal Counsel in Singapore Introduction to Legal Counsel Costs Engaging international legal counsel in Singapore involves various cost considerations that businesses must be aware of to ensure effective financial planning. The complexities of cross-border transactions and the need for compliance with local and international laws make it essential to hire experienced … Read more
Understanding Legal Advisory Services in Singapore Navigating the legal landscape in Singapore can be a daunting task, especially when it comes to selecting the right legal advisory services. With its robust legal system and a plethora of law firms, Singapore offers a wide range of services tailored to meet the diverse needs of individuals and … Read more
Legal Conditions for Marketing Campaigns in Singapore Marketing Laws Overview In Singapore, marketing campaigns are governed by a variety of legal frameworks designed to protect consumer rights and ensure fair business practices. The primary legislation includes the Consumer Protection (Fair Trading) Act (CPFTA), the Personal Data Protection Act (PDPA), and the Spam Control Act. Each … Read more
Business Registration Renewal in Singapore Understanding Renewal Process The business registration renewal process in Singapore is a critical aspect for businesses operating within the jurisdiction, ensuring compliance with the Accounting and Corporate Regulatory Authority (ACRA). According to the Business Names Registration Act, businesses are required to renew their registration annually or biennially, depending on their … Read more
Public Domain and Copyright Laws in Singapore Understanding Public Domain The concept of public domain is crucial in the realm of intellectual property. In Singapore, works enter the public domain when the copyright protection expires, allowing the public to use, reproduce, or modify them without the need for permission from the original creator. According to … Read more