Singapore Business Formation Report : Quarter 2-2016

Singapore Business Formation Report : Quarter 2 – 2016

Posted on Leave a commentPosted in Company Formation

Highlights Total of 17,628 businesses were formed in Q2 2016, increase of 10.8% against the preceding quarter. It was increased 10.4% in the corresponding previous quarter in 2015. Continuing the trend, Private Limited Company accounted for more than half of the total new business formation. With 9335 companies formed, it accounted for 53% of the […]

Deduction of the Corporate Tax Rate Under the Income Tax Act

Deduction of the Corporate Tax Rate Under the Income Tax Act

Posted on Leave a commentPosted in Government Developments, Taxation

Introduction The Finance Minister in his budget speech of 2015 mentioned that the basic rate of Corporate Tax in India is 30%, which is higher comparatively with other Asian economies. Whereas, the effective rate of tax in India is close to 23% due to higher exemptions given to the companies. Thus, this leads India to […]

Derivative Contracts

Derivative Contracts – New Reporting Values Derived

Posted on Leave a commentPosted in Accounting and Finances

The given Guidance Note “GN” highlights on recognition, measurement, presentation and disclosure for derivative contracts so as to bring uniformity in their accounting and presentation in the financial statements. This GN covers all derivative contracts that are not covered by an existing notified Accounting Standard; hence, it does not apply to the following: Foreign exchange […]