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30 Sep 2019
Singapore Business Federation
Suggestion View - 200
Do not force companies to join the Singapore Business Federation

A few years ago, I increased the share capital of my company to $500,000. That was a mistake. I did not need to have such a large share capital.

The following year, I was told that it was compulsory, by law, for me to join the Singapore Business Federation. It applied to any locally registered company with a capital of $500,000.

The annual fee is $300 plus GST. I have been paying this fee for several years. It adds to my cost of doing business.

The Federation has several activities, but they were not suitable or useful to me. The membership fee was largely wasted.

I do not understand why it should be compulsory for a business to join the Federation. It becomes an additional tax. 

Workers are given the choice to join or not join a trade union. Why should a business be compelled by law to join the Singapore Business Federation?

This law has existed for many years. I do not know why the usefulness of the Federation was not reviewed. 

Anyway, I decided to reduce the share capital of my company, so that it is not necessary for me to join the Federation. I completed the process of checking with Google on how it could be done.

Tan Kin Lian

Vote - A company should not be compled to join the Singapore Business Federation if they do not need its services.

 


Agree: 6  Disagree: 0  Vote  Comment (2)

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