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Essential Accounting Tips for Singapore’s F&B Industry

Counto

Streamline tax filings and avoid penalties. Key Financial Statements You Should Know: There are three primary financial statements you should focus on: Income Statement : Shows your business’s profitability over a specific period.

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Filing Requirements for Private Limited Companies: All You Need to Know

Counto

During the AGM, financial statements, which should be no more than 6 months old, are presented to shareholders. Private companies may be exempt from AGMs if financial statements are sent to shareholders within 5 months after the financial year-end, unless requested otherwise by shareholders.

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Understanding Singapore’s Tax Requirements for F&B Businesses

Counto

Example : A newly opened café earning S$120,000 in its first year can have the first S$100,000 of its income exempt from taxes, reducing its overall tax bill during its early phase. These statements provide critical insights into profitability and are essential for tax filings.

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Mastering Cash Flow Statements: What Every SME in Singapore Needs to Know

Counto

Mastering Cash Flow Statements: What Every SME in Singapore Needs to Know For small and medium-sized enterprises (SMEs) in Singapore, mastering cash flow statements is crucial for sustaining growth, ensuring operational efficiency, and navigating the complexities of a competitive market.