Doing Business in Singapore

Whether you business in online, brick and mortar (offline), or click and mortar ( online & offline), we all need to balance the books and see how much profit have we made ( if we are making a profit, that is…). Since I am based in Singapore, I have to abide by the laws, IRAS, accouting practices in Singapore.

Doing Business in Singapore Guide

Recently I picked the Doing Business in Singapore guide published by IE Singapore ( International Enterprise Singapore) and RSM Chio Lim ( the largest accounting firm in Singapore, outside of the Big 4). It is choke full of advice about how to start a business in Singapore, the various kinds of business entities you can operate, tax laws, auditing laws, accounting laws and regulations, and even advice about outsourcing your accounting to a company.

I though that companies would be keeping their Payroll quite confidential and within their company, but I was surprised to find out that companies routinely outsourced the Payroll to companies like PayrollServe, which focus on only outsourced Payroll Services.

I’m still reading the guide, and will post interesting snippets tomorrow.

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