Businesses in Singapore are required to adhere to accounting regulations set by ASC or the Accounting Standards Council. Compliance with accounting standards is important to ensure transparency and reliability of a business’ financial information. Transparency and reliability of financial information enable comparability of global financial data and smooth functioning of international capital markets. The increasing number of businesses in Singapore is another compelling reason for entities to adhere to a uniform financial standard. As a business, it can be time-consuming, exhausting and even downright intimidating, to maintain your seemingly infinite financial records. Hiring an accounting firm is one of the best ways to manage your business’ financial data. With a reputed accounting service provider, you will have an expert to take care of the financial aspects of your business. You can focus more on your core business knowing that your financial matters will be taken care of duly in compliance with the law. An accounting firm will also ensure a robust accounting system, which will give you a reliable and actionable financial base to make business decisions.
Expertise of an accounting firm is the key to your business successWith Mighty Glory Corporate Solutions, you get a wide range of accounting services delivered by a team with substantial industry experience. We offer a deposit-free accounting service with complete client confidentiality and a transparent fee structure. If you are in search of a professional accounting firm, then you may want to explore the services such firms offer. Here are some types of services that an accounting firm usually offers business: Singapore citizens, needing domestic care, can get support from Singapore government through the foreign domestic worker (FDW) levy concession. FDW employers who meet the criteria can qualify for a S$60 monthly concessionary rate.
The following are the employer qualifications for the FDW levy concession:
- One has to be a Singapore citizen.
- Living with a child under 16 years old.
- Living with an elderly person 67 years old and above.
- Living with a person with disability (PWD) who needs help with at least one daily living activity such as showering, dressing, feeding, or toileting.