Our Latest Blog
The Impact of Inflation and GST Adjustments on Business Profitability in Singapore: A Decade in Review
By: Ying Hu Master of Taxation, Fellow Chartered Accountant Singapore, FCCA and Accredited Tax Advisor, ASEAN CPA If you would rather have a listen, please click HERE to listen to this article in podcast format! Abstract This paper examines the effects of inflation and Goods and Services Tax (GST) adjustments on business profitability in Singapore over the past decade. Utilizing a hypothetical business scenario, we analyze how stagnant pricing amidst rising costs erodes profit margins. We also explore the rationale behind GST rate increases as a means to maintain the real value of tax revenue in the face of inflation. The study introduces a GST-based Consumer Price Index (CPI) to compare with the official CPI, providing insights into alternative perspectives on inflation measurement. Our findings underscore the necessity for businesses to adjust pricing strategies to sustain profitability in an inflationary environment. 这篇文章由我撰写，旨在分析通货膨胀和商品服务税（GST）调整对新加坡企业盈利的影响。我通过一个假设的商业案例展示了若价格不变，企业在成本上升的情况下会遭遇利润率下降甚至亏损的情况。我还解释了GST上调的逻辑，即政府通过此举来维持税收的实际购买力以应对通胀。 文章中提出了一个基于GST的CPI作为替代通胀衡量指标，与官方CPI相比，它显示出更高的累计通胀率，反映了不同的生活成本压力。最终，我强调，企业需定期调整价格，深入理解经济指标，以在通胀环境中维持盈利和稳定性。 Disclaimer This analysis is theoretical and intended for illustrative purposes [...]
Our Latest Blog
The Impact of Inflation and GST Adjustments on Business Profitability in Singapore: A Decade in Review
By: Ying Hu Master of Taxation, Fellow Chartered Accountant Singapore, FCCA and Accredited Tax Advisor, ASEAN CPA If you would rather have a listen, please click HERE to listen to this article in podcast format! Abstract This paper examines the effects of inflation and Goods and Services Tax (GST) adjustments on business profitability in Singapore over the past decade. Utilizing a hypothetical business scenario, we analyze how stagnant pricing amidst rising costs erodes profit margins. We also explore the rationale behind GST rate increases as a means to maintain the real value of tax revenue in the face of inflation. The study introduces a GST-based Consumer Price Index (CPI) to compare with the official CPI, providing insights into alternative perspectives on inflation measurement. Our findings underscore the necessity for businesses to adjust pricing strategies to sustain profitability in an inflationary environment. 这篇文章由我撰写，旨在分析通货膨胀和商品服务税（GST）调整对新加坡企业盈利的影响。我通过一个假设的商业案例展示了若价格不变，企业在成本上升的情况下会遭遇利润率下降甚至亏损的情况。我还解释了GST上调的逻辑，即政府通过此举来维持税收的实际购买力以应对通胀。 文章中提出了一个基于GST的CPI作为替代通胀衡量指标，与官方CPI相比，它显示出更高的累计通胀率，反映了不同的生活成本压力。最终，我强调，企业需定期调整价格，深入理解经济指标，以在通胀环境中维持盈利和稳定性。 Disclaimer This analysis is theoretical and intended for illustrative purposes [...]
Helping Your Business Grow
We are Chartered Accountants and Accredited Tax Advisors.
Our best clients treat us as their Chief Financial Officers, business advisors and strategists and we help them grow their business.
Accounting
ET Management services provides business owners with a lot of services under accounting services, some of them are: Advisors to bookkeepers and directors for do it yourself accounting, Preparation of the unaudited financial report for Annual General Meetings, Application and advisory of accounting practices that are already present in the company, Research as well as advisory for Financial reporting standard matters, and so on. These are critical services that should be undertaken only by professionals, ET Management services is a company that has been registered as a filing agent with ACRA (Accounting and Corporate Regulatory Authority).
Accounting
ET Management services provides business owners with a lot of services under accounting services, some of them are: Advisors to bookkeepers and directors for do it yourself accounting, Preparation of the unaudited financial report for Annual General Meetings, Application and advisory of accounting practices that are already present in the company, Research as well as advisory for Financial reporting standard matters, and so on. These are critical services that should be undertaken only by professionals, ET Management services is a company that has been registered as a filing agent with ACRA (Accounting and Corporate Regulatory Authority).
Taxation
Calculating and paying taxes for a single person is not a very tedious job, though it has a lot of complications. Calculating and paying taxes for a large company is itself a huge exercise. The government usually has some standard deductions and tax exemptions on certain goods and services and it is constantly changing. Only tax experts, like the ones from ET Management services keep up to date with the laws of the government and calculate taxes accurately. Thereby saving your company a lot of money, not only by paying the proper amount of tax, but also by avoiding any litigation under non payment or less payment of taxes.
Taxation
Calculating and paying taxes for a single person is not a very tedious job, though it has a lot of complications. Calculating and paying taxes for a large company is itself a huge exercise. The government usually has some standard deductions and tax exemptions on certain goods and services and it is constantly changing. Only tax experts, like the ones from ET Management services keep up to date with the laws of the government and calculate taxes accurately. Thereby saving your company a lot of money, not only by paying the proper amount of tax, but also by avoiding any litigation under non payment or less payment of taxes.
Corporate Secretary
Companies that are just starting off the ground and companies that are already successful, both require the corporate secretarial service. There are a lot of legal and statutory practices that have to be carefully considered and taken care of. Many companies do not have proper experience with things like this and that is why corporate secretarial services are required. To keep track of this in itself becomes a very huge burden. It does not matter what type of company is availing the corporate secretarial services from us at ET Management services, as our secretaries are very proficient in handling all types of companies. The secretaries from ET Management services have a lot of experience gathered from their years of working in different types of companies.
Corporate Secretary
Companies that are just starting off the ground and companies that are already successful, both require the corporate secretarial service. There are a lot of legal and statutory practices that have to be carefully considered and taken care of. Many companies do not have proper experience with things like this and that is why corporate secretarial services are required. Every state and / or country has different rules and regulations that they expect a company to follow. It does not matter what type of company is availing the corporate secretarial services from us at ET Management services, as our secretaries are very proficient in handling all types of companies. The secretaries from ET Management services have a lot of experience gathered from their years of working in different types of companies.
