Accounting and Tax Services

In Singapore

 

Beside the management accounts, the provision of accounting schedules and GST detailed report is also included in our bookkeeping service. Tax computation with relevant tax schedules will be available for both corporate and personal income tax returns.

 

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Accounting

Monthly Bookkeeping Services (SGD)
1. Low Volume of Transactions * 200 to 300
2. Medium Volume of Transactions * 350 to 650
3. High Volume of Transactions * From 690
A
Annual Bookkeeping Services (SGD)
1. Dormant or inactive 350
2. Low Volume of Transactions * 390 to 450
3. Medium Volume of Transactions * 490 to 750
4. High Volume of Transactions * From 790

Add-on:

Extra Transactions (For Every Tier of Additional 20 Transactions) SGD 120 Per Month or Year
Initial Set-Up Fee (One-Off) SGD 300 to SGD 500 Per Company
(Depends on the level of business activities)
Form Customisation From SGD 28 Per Form
(Depends on the design complexity)
Application to be GST-Registered SGD 130 Per Registration
Preparation of GST Report and eSubmission of GST F5 SGD 100 Per Quarter
Compilation of Unaudited Financial Statements From SGD 390 Per Annum
(Depends on the corporate structure and disclosure items)
Compilation of Consolidated Financial Statements (1 Subsidiary) From SGD 750 Per Annum
(Depends on the disclosure items)
Review of Management Accounts (Prepared by Your Company or Third Party) From SGD 300 Per Financial Year
(Depends on the corporate structure, complexity, volume of transactions, etc)
Audit Support (Includes Preparation of Draft Financial Statements) SGD 500 to SGD 700 Per Report

Relevant:

Income Tax Returns

CORPORATE INCOME TAX

  • Computation and Filing of Estimated Chargeable Income (ECI) Within 3 Months After Financial Year End

  • Preparation of Tax Computation and Relevant Tax Schedules

  • Submission of Corporate Income Tax Return (Form C or C-S) By 30 November of the Next Financial Year

  • Liaison With IRAS to Answer Its Queries About Your Company’s Tax Matters

If Management Accounts Are NOT Prepared By Us

Form C-S: From SGD 390 Per Year of Assessment (YA)

Form C: From SGD 590 Per YA

(Depends on the corporate structure, complexity and corporate income tax filing status)

If Management Accounts Are Prepared By Us

Please Sign Up For Our Accounting and Tax Package

PERSONAL INCOME TAX

  • Consolidation of Details From All Sources of Income For the Entire Calendar Year

  • Compilation of Expenses Incurred to Generate the Income

  • Preparation of Tax Computation and Relevant Tax Schedules

  • e-Submission of Individual Income Tax Return (Form B) By 18 April of the Next Calendar Year

  • Liaison With IRAS to Answer Its Queries On Your Personal Income Tax Matters

Ideal for Sole-Proprietor, Partner and Self-employed

From SGD 500 Per Year of Assessment

(Depends on the complexity and volume) 

Accounting and Tax Packages

^ Does not include amending or revising the management accounts.
* Depends on the corporate structure. Does not apply to investment holding companies. Additional fees (SGD 50 to SGD 200) are chargeable if there are investment, property, plant and equipment, finance leases, banking facilities and any items, which are required to be disclosed in the notes to the financial statements.

"Follow your passion and success will follow you."

– Terri Guillemets
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FREQUENTLY ASKED QUESTIONS

What is the difference between bookkeeping and accounting?

Bookkeeping is the recording of financial transactions from raw data (i.e. documents which prove the occurrence of a financial transaction) into a database.

Accounting is the process of summarizing, analyzing, consulting and communicating the financial transactions.

Financial statements are prepared during the accounting process.

Why bookkeeping is also required for sole-proprietorship and partnership?

Every business maker (also known as self-employed person) must calculate and include the business income as part of his total personal income in Form B or B1.

The precedent partner is obliged to file Form P by the statutory due date and inform the partners on their share of the business income. Subsequently, the individual partner should report his share of business income in Form B or B1 when filing his individual tax return as income under “Partnership”.

Proper bookkeeping provides accurate results for statutory compliance and other business reasons.

Can we still continue to use desktop accounting software if we hire your bookkeeping service?

Yes, we will respect your decision to continue using the company’s existing desktop accounting software.

If the business has not chosen a system, we would recommend cloud accounting software because the management can access the system anytime, anywhere for any reason, such as business meeting or emergency decision making.

We will also recommend a suitable cloud accounting solution which fits your budget, business operation and reporting requirement.

Does my company's accounts need auditing?

A “small company”, with financial year beginning on or after 1 July 2015, is exempted from auditing its financial statements.

A company shall be considered as a small company if it fulfils at least 2 of the following 3 conditions:

  • The total annual revenue of the company must not exceed SGD 10 million;
  • The total assets of the company for the financial year end must not exceed S$10 million;
  • The number of full-time employees at the end of the financial year must not exceed 50.

The details, such as the transitional provisions and disqualification to be audit-exempted, are available here.

How do you measure a company's volume of transactions?

A report will be generated from the accounting system. It will tell the number of financial transactions (such as sales invoices, purchase bills, receipts, payments, journal entries) being captured in the database within a specified period.

The volume of transactions can be determined on the basis of these information.

What do you need from us to do the bookkeeping?

We need all documents (whether electronic or physical copies) which show the cash movement, generation of income and expenses. Such documents include but not limited to sales invoices, purchase bills, tenancy agreements, bank statements, official receipts, payment vouchers, salary reports, CPF records of payment, used cheque stubs, etc.

Our company has no trading activity. Are we still required to submit Form C-S or C?

A dormant company, which has no trading activity and income for the entire basis period, must still submit its Income Tax Return (Form C-S or C) unless it has been granted a waiver to file the Income Tax Return.

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