Accounting & Auditing Services
Singapore accounting, auditing & tax filing
All Singapore private limited companies have to comply with annual filing and reporting requirements of the Accounting and Corporate Regulatory Authority (ACRA) and the Inland Revenue Authority of Singapore (IRAS).
Within 3 months from the financial year end, a company has to file its Estimated Chargeable Income (ECI) for the Year of Assessment to IRAS. A private company must also submit its Income Tax Return (Form C/C-S) together with supporting documents (i.e. financial statements, tax computation) before 15 Dec for e-filing.
Our accounting and tax-filing services provide flexibility for companies with varied sizes and multiple business purposes. We not only have your company stay fully compliant with filing obligations, but also provide you with a clear picture of your company's financial position on an accurate and timely basis.
Accounting & tax filing services
Total yearly estimated cost
** The above fee is in USD and may vary depending on the complexity of your transaction
What included in Accounting package:
- Monthly accounting review
- Xero cloud accounting
- Monthly preparation of FSs
Annual tax filing:
- ECI preparation and filing
- Filing Form C/C-S
In case you want to reserve your company for later needs, we can help to minimize annual maintenance costs with Dormant Company Package.
Dormant Company Package
With all fees included:
Additional supporting services
|Personal Tax Filling & Payroll assistance|
|Payroll Outsourcing||Administration of payroll process in compliance with tax and labor regulation||US$50 per person per month|
|Central Provident Fund Account setup||Employers’ mandatory contribution for social security savings scheme of employees who are Singapore citizens or permanent residents.||US$120 per person|
|Form IR8A submission||Annual income reporting for all Singapore employees||US$100 per person|
A surcharge of US$150 USD with Appendix 8A
|Form IR21 submission||Tax clearance for non-citizen Singapore employees in case of employment cessation or departure from Singapore.||US$120 per person|
A surcharge of US$230 with Appendix 1
|Personal Income Tax Filling||US$125 per person|
|Liaising with Auditor||Cooperate in providing documents and assist in handling queries from auditors.||US$500|
|Full XBRL preparation||Convert full set of financial statements in XBRL format.||US$500|
|XBRL highlight preparation||Convert financial statements highlights in XBRL format.||US$350|
|GST registration||Apply for GST registration when company’s annual turnover exceeds S$1 mil.||US$450|
What are initial requirements to register a company in Singapore?
- Minimum one director and one shareholder.
- Local resident director(s).
- A local registered address in Singapore.
What kinds of business are allowed in Singapore?
Generally, no restrictions except for financial services, education, media-related or other politically sensitive businesses.
Do I have to file annual returns for my Singapore company?
In Singapore, it is mandatory for a company to file annual returns with Accounting and the Corporate Regulatory Authority (ACRA), and annual tax returns with the Inland Revenue Authority of Singapore (IRAS).
Can a foreign individual or corporate have complete ownership of a Singapore company?
Definitely, yes. According to Singapore Companies Act, 100% ownership of a Singapore company is permitted, either for a local person or a foreigner.
Which taxes must a company in Singapore pay annually?
A Singapore company is basically taxed for its profits, regardless of the sources. For the first three years, the company is levied from 0% to 17% depending on its incomes. After that, the tax rates are 8.5% and 17%, respectively for the first 300,000 SGD and the remainder.