Startup FAQs – Skills Development Levy

Dec 26

Startup FAQs – Skills Development Levy

Administering payroll in Singapore is relatively simple because taxes are the employee’s personal responsibility and there is no PAYG system for employers to administer. Among the few levies on payroll in Singapore are the modest Skills Development Levy (SDL). What is Skills Development Levy (SDL)? SDL was first enacted under the Skills Levy Development Act of 1979....

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FAQs: Late filing of personal income tax for individuals and sole proprietors

Jun 05

FAQs: Late filing of personal income tax for individuals and sole proprietors

“Better late than never”, or in this case, a fine or a court summon! If you haven’t done so, you can still file your personal income tax NOW. We have answered all the common questions below on personal tax filing and what you can do when you are way past the deadline. If you need further consultation,...

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Personal Income Tax

Feb 10

Personal Income Tax

FAQs: Personal Income Tax in Singapore What is the responsibility of the employing company regarding personal income tax? It is the responsibility of the Employing company to give every employee a Statement of Annual Employment Income. Companies with 9 or more employees in Singapore have to mandatorily report the annual income of all employees directly to the...

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Elegant petty cash set up for Singapore SMEs

Jan 18

Elegant petty cash set up for Singapore SMEs

About the author: Mila Reyes Baruela is Futurebooks’s Executive Administrator. She looks after the day-to-day administrative tasks at Futurebooks. Handling cash for our office is an unavoidable part of my job. While we prefer using bank transfers or PayPal wherever possible, there are vendors who simply only accept cash. So we have created a simple way to...

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65% of companies that failed say this one step would have made all the difference

Dec 08

65% of companies that failed say this one step would have made all the  difference

One of the biggest difficulties Singapore startups and SMEs face is keeping their accounts organised from day one. At Futurebooks, we have dealt with several companies that needed an accounting cleanup with the company’s financial year end fast approaching. This often happens in a growing small business when the main focus of most founders is to generate...

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