Rikvin Explains The Difference Between On Sole Proprietorship VS Limited Liability Partnership
Rikvin says that both the sole proprietorship and limited liability partnership are favorable among businessmen.
In
Singapore, foreign investors are allowed to...
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Rikvin Explains The Difference Between On Sole Proprietorship VS Limited Liability Partnership
Rikvin says that both the sole proprietorship and limited liability partnership are favorable among businessmen.
In
Singapore, foreign investors are allowed to own 100% of the business stocks and management.
“A Singapore sole proprietorship is very flexible as it rests full control of business in a single person, who is the
proprietor,” says Rikvin, a company based in Singapore committed to assist businessmen, companies, and
employees.
“The revenues of a sole proprietorship are taxed on a personal level with progressive tax rates.
Thus, the business
itself is not subject for auditing, and it is not required to file annual returns with ACRA and IRAS,” Rikvin adds.
It continues: “As the sole proprietor maintains full authority, the owner can decide on how the business is managed,
which assets are purchased by its revenues or how the earnings are used.
”
“The downside of the sole proprietor
Less