NEWS & ARTICLES

Corporate Tax Rate and Rebate

Since Year of Assessment (YA) 2010, a company is taxed at a flat rate of 17% on its chargeable income regardless of whether it is a local or foreign company.

And for YA 2013 to YA 2015, all companies will be granted a 30% Corporate Income Tax Rebate capped at $30,000 per YA. Please click to read more on corporate tax.

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Information Technology (IT) and Data Analytics

The biggest impact IT has made on accounting is the ability of companies to develop and use computerized systems to track and record financial transactions. IT networks and computer systems have short

Functional Currency

The functional currency of a company is the currency that is widely used (or transacted in) by a company in normal daily business. Nowadays, companies buy products from suppliers in different countrie

Arguments Against Audit Exemption for Small Companies

Owners of a company who are not involved in the management of the company derive value from a third party opinion on the truth and fairness of the company’s financial statements. Accounts that are aud