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Full-Text Articles in Business
Transfer Of A Going Concern, Vincent Ooi
Transfer Of A Going Concern, Vincent Ooi
Research Collection Yong Pung How School Of Law
GST transfers of a going concern—overviewThe sale of a business is in substance the sale of a number of assets bundled together. Generally, GST would be charged on the transfer of each asset according to the rules applicable to that asset, i.e. standard-rate, zero-rate or exempt.However, where a business is transferred as a going concern (a “TOGC”), the transaction may be treated as an excluded transaction under the Goods and Services Tax (Excluded Transactions) Order. If so, the trans-action would be treated as neither a supply of goods nor a supply of services and therefore outside the scope of GST. …
Business Vehicles, Vincent Ooi
Business Vehicles, Vincent Ooi
Research Collection Yong Pung How School Of Law
When one or more individuals decide to start a business, they can select an appropriate business vehicle from a range of options. There are many commercial and legal reasons which may help to determine that choice.Aside from tax considerations, other major issues to consider include:• the limitation of liability if a company or limited liability partnership is used;• the expectations of suppliers and customers;• the ease of administration, including closing down, of an unincorporated business, and• the requirement to publish information such as profits and remuneration in the case of companies