Take a quick peek at our latest 5 Minutes With Jerlyn Ang, our Corporate Secretary Lead at Accela Finance. She provides insights into her day-to-day work at Accela.

The Accela Finance team was thrilled to have The Xero Asia Roadshow 2024 land in our neck of the woods this year. The popular bookkeeping industry event made its debut in Kuala Lumpur, Malaysia, in September. Naturally, we jumped at the chance to attend! 

The Roadshow offers business owners, accountants, and bookkeepers a chance to connect with industry experts, exchange valuable insights, and discover new ways to harness Xero’s tools for business growth. Although the event happens annually, this was the first time the spotlight turned to Asia—a testament to the growing importance of this region in the Xero ecosystem.

What truly sets Singapore apart is its tax framework. It offers reduced corporate income tax rates, start-up tax exemptions, and double tax deductions for foreign companies. Plus, Singapore has a multitude of free trade agreements with countries worldwide, making it a lucrative choice for entrepreneurs.

So, how can you take advantage of Singapore’s strategic business benefits without relocating there? The answer lies in choosing the right partner. Our Accela Finance and Corporate Secretary teams explain.

With the first phase of the GST increase behind us, the impact on businesses and consumers is evident. Some companies absorbed the cost and used the increase as a marketing opportunity to demonstrate customer loyalty. Others quietly made price adjustments with customers aware of the upcoming change.

Now that we have passed the first phase, it is time to start preparing for the second, aiming for the smoothest transition possible.

Singapore offers incredible advantages for those keen to launch a business thanks to a favourable commercial environment and strategic location.

But to make the most of them, you need to understand Singapore's tax incentives.

Here are five tax incentives that draw investors and entrepreneurs each year:

Take a quick peek at our latest 5 Minutes With Ranjini Padattil, our Finance Associate at Accela Finance. She provides insights into Accela's work ethic and shares her favourite snack.

Filing your IRAS corporate income tax returns might seem like a daunting task, especially if you have recently launched a business or contemplating starting one in Singapore. The pressure of meeting submission deadlines can be overwhelming, potentially casting a cloud over your business's reputation and financial stability.

However, with a well-thought-out strategy, this compliance journey can be both manageable and enlightening.

In a game-changing move, the Monetary Authority of Singapore (MAS) and the Accounting and Corporate Regulatory Authority (ACRA) introduced the Variable Capital Company (VCC) structure in 2020.

Companies consolidate for various reasons and can do so in several ways, with mergers or acquisitions among the most common methods.

As a business owner, you may want to make thoughtful, informed decisions that drive your business forward. No tool is more helpful with this than management reports, yet many new business owners overlook some of their most essential benefits.