Accounting & Corporate Tax Services

We bring your numbers to the next level!

With the right numbers, you can make informed decisions on key management decisions and the long-term growth of the company.

Accounting & Corporate Tax Services

We bring your numbers to the next level!

With the right numbers, you can make informed decisions on key management decisions and the long-term growth of the company.

Accounting & Corporate Tax Services

We bring your numbers to the next level!

With the right numbers, you can make informed decisions on key management decisions and the long-term growth of the company.

What Can We Do?

Section 201 of the Companies Act requires every company to prepare its financial statements in accordance to the financial reporting standard.

Bookkeeping

We provide advisory and recording of your financial transactions accurately on a monthly, quarterly, or yearly basis through various sectors and industries in Singapore.

Additionally, we provide services for data migration of your accounting record so that you can switch platforms without hesitation!

Compilation of Financial Statements

We translate your financial information into financial statements in accordance to the accounting standard which are essential and critical to key management decisions.

The financial information shall include the notes to the accounts so that it gives you a detailed breakdown of financial transactions.

Compilation of Financial Statements

We translate your financial information into financial statements in accordance to the accounting standard which are essential and critical to key management decisions.

The financial information shall include the notes to the accounts so that it gives you a detailed breakdown of financial transactions.

Corporate Tax Services & Advisory

We provide a broad range of advisory in corporate tax matter so that your company will fulfill its obligations with the Inland Revenue Authority of Singapore (IRAS) is fulfilled.

This include tax computation, tax planning, income tax audit, and advisory on corporate and personal tax level.

Corporate Goods & Services Tax (GST)

We provide assistance with GST registration and submission, together with any other corporate matters relating to GST with the Inland Revenue Authority of Singapore (IRAS).

GST may be required whether compulsorily and voluntarily depending on the need of your business!

Corporate Goods & Services Tax (GST)

We provide assistance with GST registration and submission, together with any other corporate matters relating to GST with the Inland Revenue Authority of Singapore (IRAS).

GST may be required whether compulsorily and voluntarily depending on the need of your business!

...need more details about the above?

As an experienced accountant, we provide bookkeeping services of various industries and sectors of which includes the preparation of the following (whichever is applicable):
1. Input and recording of the company’s financial transaction;
2. General ledger;
3. Bank reconciliation;
4. Accounting schedule; and
5. Preparation of financial statements (eg. statement of comprehensive income and statement of financial position).

In order for us to provide the company with bookkeeping services, we typically require the following documents for the financial year concerned (whichever is applicable):
1. Bank statements;
2. Sales and purchase invoices:
3. Expenditure invoices;
4. Invoices for fixed assets acquired;
5. Salaries listings;
6. Petty cash payment records;
7. Loan agreement and schedules; and
8. Any other ancillary documents to the company’s financial transaction.

For the purpose of fulfilling the requirements as per financial reporting standard, the financial statements shall also be accompanied with the directors’ statement and its explanatory notes, even if the company is exempted from auditing requirements. In view of this, the compilation of its financial statements will present its complete/full set of its financial statements which may also promote the following (not limited to):
1. Higher degree of transparency and disclosure of accounting policies;
2. Enhancement of investors’ confidence; and
3. Accessibility to banking facilities, grants, and regulatory requirements in specific industries or agencies.

In addition to the above, it is also a requirement for a company to compile its financial statements for the purpose of full XBRL reporting.

By engaging our tax services, our experienced tax consultant will assist the company’s on its tax obligations and filing of its returns with the tax authority, Inland Revenue Authority of Singapore (IRAS). As a tax consultant, we provide the board members with tax advisory and planning on the tax treatment which is essential to certain trade whether it is situated locally, or abroad.

Our tax services will include the following (whichever is applicable):
1. Tax advisory and planning;
2. Computation of estimated chargeable income (ECI);
3. Tax computation and filing of tax returns with IRAS; and
4. Any other matter that may relate to the tax obligation or treatment to the company’s trade.

Your company may be required to be a GST registered company due to the its mandatory requirement by IRAS or voluntarily due to your business needs.

In a prospective view, you will have to register for GST when there is certainty that your taxable turnover will exceed S$1 million in the next 12 months (or equivalent currency). You must have supporting documents to support your forecast value of S$1million. For example:

  • Signed contracts or agreements;
  • Accepted quotations or confirmed purchase orders from customers;
  • Invoices to customers with fixed monthly fee charged; or/and
  • Income statements showing that past 12-month period was already close to S$1 million and that annual turnover is on an increasing trend.

REQUIREMENTS FOR XBRL CONVERSION AND REPORTING
In addition to the requirements for every company to prepare financial statements, the company may also be required to report the aforesaid financial statements in an XBRL (eXtensible Business Reporting Language) format, unless exempted from such requirements. In view of this, the most common XBRL templates that are reported and filed with the authority are as follows:
1. Full XBRL; and
2. Simplified XBRL (financial highlights)*.

EXEMPTIONS FOR COMPANIES ON XBRL REPORTING
Although companies are encouraged to perform XBRL reporting, these companies can still be exempted by fulfilling either one (1) of the following options:
1. If the company is an exempt private company (EPC)** and is solvent; or
2. If the company is dormant for the entire financial year and it qualifies for the conditions to be exempted from the preparation of financial statements under the provision of Section 201A of the Companies Act.

*The simplified XBRL (financial highlights) is only applicable to EPC companies.
**EPC is referred to private companies who has no interest held by a corporation (i.e. corporate shareholder) and that the number of shareholders does not exceed 20 during the current financial year.

The purpose of an audit is to provide an objective independent examination of the company’s financial statements, which may be beneficial for investors to ensure the value and credibility of the financial statements.

Auditing of financial statements may or may not be a statutory requirement of a particular company, or whether it is exempted from auditing requirements, the company may still choose to audit its financial statements due to internal use or to fulfill certain requirements.

WHY DO I NEED TO PREPARE FINANCIAL STATEMENTS?
For the purposes of Section 201 of the Companies Act, it is a requirement for every company to prepare its financial statements in accordance to the financial reporting standard and they are to be laid at the company's annual general meeting for each financial year, unless the company qualifies for dormancy and other conditions under the provision of Section 201A of the Companies Act. If our consultants are your appointed company secretary, this gives us an edge to work hand-in-hand together in order fulfill the company's statutory obligation on a timely manner.

WHAT VALUE DOES THE FINANCIAL STATEMENTS PROVIDE?

With the financial statements, it allows the board make key management decisions on the long-term growth of the company as well to promote transparency and disclosure to the financial performance of the company, which may in turn, attract potential investor and boost confidence of shareholders.

Here are some sources for your reference...

Companies Act 1967 of Singapore


Requirement under the provision of Section 201 of the Companies Act to prepare financial statements…

Financial Reporting Standards


It is important to prepare its financial statements in accordance to the financial reporting standards…

Illustration of Financial Statements


Here are some latest illustrations of financial statements of which we adopt for better disclosure requirements…