why do we still need to renew business licence annually?

[leetahbar]

if u r running your own biz, u need to register a company. ACRA - the new name for ROC or registry of companies and businesses would then issue u a business licence that u can get started with whatever legal business u intend to do.

what's strange is this: why the need to renew the licence which cost $20 for sole-proprietorship every year?

we have done away with tv licence which should ve been earlier as mediacorpse is feeding daily with mostly repeats after repeats. then we ve also done away with the annual driving licence renewal by a one time $50 payment.

so why can't we do away with business licence renewal?

it's so tedious now. in the past, they would send u advance notice to renew by issue cheque in return mail to them. now they want u to do it on-line which seem to be the only channel to do the payment.

just think. there are many small time businesses run by people such as hawkers, self-employed deliverymen, traditional barbers and etc who are not eloquent with all this internet thingy or complete pc illiterate. renewal by on-line is rather alien and very complicated to them.

even for me, i just got my renewal notice in RED which mean i m late in payment. i was so surprised when one of my pals told me now they do not even inform u in advanceby mail about ur licence expiry date. u are expected to know it and pay the renewal 1 mth b4 the licence expires.

so here i m done for a late payment of $50 and a renewal fee of $20. when i tried to clarify with them, they told me i gotta "giro" all my future payment and i gotta do it by the end of the month. if giro is approved, they would refund the late payment. the only way to do it is again through online by using SINGPASS.

how often does one use the SINGPASS? when i tried to access using my password, a slew of "authentication" characters appeared which i had to key. after keying, instead of accessing to the relevant site, it directed me back to the logging page. this repeated several time until finally a notice appeared n stated that I M LOGGED OUT FOR EXCEEDING THE LIMIT.

now what am i suppose to do? helplessly, i just followed the instrucrtion in the HELP and requested for another password which would take about 4 days to be sent to me by post. why can't it be email and avoid further delay??

u can see the exasperation i m going through wasting so much time and in the end couldn't even do a simple function. internet is suppose to alleviate the inconvenience but this instance it seems to retard and drive one nutz!! :(

 

[leetahbar]

by the way, no one is saved from the tentacles of cpf.

if u r self-employed with a company, u need to pay up medisave b4 your biz renewal is approved.

can u now see clearly how the beauty of the money sucking machinery of our very efficient gahmen works?

 

[Cestbon]

Pte Ltd >> need to do accounting every year. Do accounting meaning company/business still available.
Sole proprietor need to renew license just to check it still available because they no compulsory to do account. So renew every year just to check that the business still on going if not when it die no one know.

 

[leetahbar]

Pte Ltd >> need to do accounting every year. Do accounting meaning company/business still available.
Sole proprietor need to renew license just to check it still available because they no compulsory to do account. So renew every year just to check that the business still on going if not when it die no one know.

can a sole-proprietor transfer ownership of his business to another?

the renewal of licence is some kind of a soft threat. they intimidate u with a dateline. if no payment with the fine is received by then, they auto terminate the business.

their so call business practice is rather mafia. don't inform u now about renewal and when they do, they slap u with a $50 late payment fine. how can like that?

 

[BicycleChain]

Agree to your comment.
My business partner told me you can apply for SMS alert and Email alert, but I agree should not need to pay annually.
Their idea is you pay up Medisave then you can renew. That's the part they're shrewd at.

 

[BicycleChain]

My partner just login to check Bizfile and it's true, there is a penalty for late payment. This is no good.

 

[sta1100]

It best of both world for them, as SP need to pay up your CPF before you can renew

1) when you have $$$ in CPF they keep for you until you rot still cannot see the $$$
2) when you pay $20 to acra $$$ to uncle Lee if you late extra $50 to uncle Lee

End of it all our $$$ goes into uncle lee

 

[wendychan]

by the way, no one is saved from the tentacles of cpf.

if u r self-employed with a company, u need to pay up medisave b4 your biz renewal is approved.

can u now see clearly how the beauty of the money sucking machinery of our very efficient gahmen works?

and in order to get your cpf to pay for your first house purchase, you need to GET A LOAN before THEY will release your cff. in other words, you have to get yourself in debt, even if you don't need to, to get your cpf for housing purposes...

 

[leetahbar]

and in order to get your cpf to pay for your first house purchase, you need to GET A LOAN before THEY will release your cff. in other words, you have to get yourself in debt, even if you don't need to, to get your cpf for housing purposes...

there is already a major flaw in the system. they zap our money as easy as abc and yet many are ignorant. anyway even if we are aware, what can we do? they literally grab your balls to do their biddings.