Scroll Top
网页加载 网页加载 点击
Accounting and tax services
Bookkeeping and Accounting services

Bookkeeping: Comprehensive bookkeeping services to maintain accurate financial records.

Financial Reporting: Preparation of financial statements in compliance with Singapore Financial Reporting Standards (SFRS).

The advantage of accounting and bookkeeping outsourcing services:

  • Spent less time preparing and handling receipts and invoices
  • Ensure compliances with the specific laws and regulation by ACRA and IRAS in a timely manner.
  • Avoid waste of time and employment costs. There is no longer a need to spend money to hire internal staff to handle the accounts.
  • Strengthen control and reduce fraud
  • Maintain the confidentiality of financial information
  • Reduce employment demand
Audit Services
  • Compliance Assurance: Ensuring adherence to accounting standards and regulations.
  • Risk Assessment: Identifying and mitigating potential financial risks.
  • Independent Audits: Offering unbiased opinions on financial statements.
Tax Planning
  • Tax Advisory: Strategic advice on corporate tax planning to optimize tax liabilities.
  • GST Registration and Compliance: Assistance with Goods and Services Tax registration and ensuring compliance with the Inland Revenue Authority of Singapore (IRAS) regulations.
Tax Services
Corporate income tax
  • a. Startup Tax Exemptions
    Startup Tax Exemptions (75%) on the first $100,000 and (50%) on the next $100,000 net profit amounting to $125,000 Tax Exempted for the first 3 years of assessment.
  • b. Partial Tax Exemptions
    Partial Tax Exemptions (75%) on first $10,000 and (50%) on next $190,000 of net profit amounting to $102,500 Tax Exempted (if startup tax exemption is not applicable).
  • c. In the event of any of the following circumstances, only partial tax exemption schemes can be enjoyed from the first tax year:
  • A company whose main business activity is investment holding company.
  • Company engaged in real estate development for sale, investment or both.
  • A new company with only corporate shareholders.
Personal income tax
Personal income tax rates in Singapore are one of the lowest in the world. In order to determine the Singapore income tax liability of an individual, you need to first determine the tax residency and amount of chargeable income and then apply the progressive tax rate to it. Key points of Singapore’s income tax for individuals include:
  • Singapore follows a progressive tax rate starting at 0 % and ending at 24 % (above S$1,000,000).
  • There are no capital gains or inheritance taxes.
  • Individuals are taxed only on the income earned in Singapore.
  • Tax Singapore rules differ based on the tax residency of the individual.
  • Income tax is assessed on a preceding-year basis.
Goods and Services Tax (GST)
Goods and Services Tax or GST is a broad-based consumption tax levied on the import of goods (Collected by Singapore Customs), as well as nearly all supplies of goods and services in Singapore. In other countries, GST is known as the Value-Added Tax or VAT.
Do I need to register for GST?
Compulsory registration
You must register for GST if your taxable turnover is:
  • Under the retrospective view, more than $1 million at the end of the calendar year, or
  • Under the prospective view, expected to be more than $1 million in the next 12 months
Voluntary registration
You may apply to be GST-registered on a voluntary basis even if it is not compulsory for you to register for GST.
To qualify for voluntary registration, you must satisfy any of the following:
  • Your business makes taxable supplies;
  • Your business only makes out-of-scope supplies. Out-of-scope supplies mainly refer to sales of goods which did not enter Singapore and goods in transit;
  • Your business makes exempt supplies of financial services that are also international services; or
  • Your business procures services from overseas service providers or imports low-value goods and you would not be entitled to full input tax credit even if you were GST-registered.