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Tel：+86 400 118 5939Singapore and Hong Kong are both one of the most important financial centers in Asia, and their management systems for their respective companies are very similar. It also has extremely low effective tax rates, free international currency exchange services, and tax exemption treatment for offshore business income. Can Singaporean companies avoid auditing? as follows:
If any two of the following exemption requirements are met, statutory audits are not required. Starting from 2018, the exemption conditions under the Company Law are as follows:
1. Operating revenue is less than 10 million Singapore dollars;
2. Total assets are less than 10 million Singapore dollars;
3. The number of employees is less than 50;
Singapore company audit:
According to the Singapore Companies Act, a Singapore private limited liability company must submit an English financial report or audit report compiled in accordance with the Singapore Institute of Certified Public Accountants standards to the Accounting and Corporate Regulatory Authority (ACRA) for each financial year.
The conditions for auditing Singaporean companies:
Companies that meet any of the following criteria need to be audited:
1. The total sales and assets of the Singapore company and its affiliated groups are greater than SGD 10 million;
2. The total sales revenue of the Singapore company and its affiliated groups is greater than SGD 10 million and the number of employees is greater than 50;
3. The total assets of the Singapore company and its affiliated groups are greater than SGD 10 million and the number of employees is greater than 50.
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Email: info@hyintern.com
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