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Q:
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Is it necessary to audit for a company in Singapore?
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A:
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Two of the following conditions were met in the past two consecutive fiscal years required to audit:
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1.
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The total amount of annual revenue is less than SGD1000 in each fiscal year.
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2.
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The total amount of annual capital is less than SGD1000 in each fiscal year.
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3.
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The number of full-time employees is less than 50 persons.
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Q:
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Is it necessary to register the consumption tax for a company in Singapore?
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A:
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Generally, the amount of revenue more than SGD100 is required to register. It is suggested for international trade business to register to offset the consumption tax on the bookkeeping record of import and export.
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Q:
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Is it necessary to proceed employer’s declaration for a company with employees in Singapore?
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A:
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If the number of employees is more than 7 persons, such company shall proceed the declaration by March 1st annually. In contrast, if the number of employees is less than 7 persons, the declaration is not required.
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Q:
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What is the requirement to apply for a corporate bank account in Singapore?
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A:
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The basic requirement is to present the contract, orders, or receipt of mails with local residents for proof of business activities in Singapore.
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Q:
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What is the requirement to become a director in Singapore?
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A:
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The candidate shall be over age 18 with the identity of permanent resident or EP holder.
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SOALAN LAZIM
