How A Singapore Accounting Service Works

By Author: Shayne Hughes
Total Articles: 108
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Singapore Accounting Service is designed to work with companies who need comprehensive and well-constructed set of financial statements for their business. It is partnered with best-computerized accounting system in order to cater organized and exact financial reports. The purpose of this service is to help companies maximize their time on their operation and have complete, concise and balanced financial statements at the same.

Rikvin, a trusted corporate solution provider in Singapore works with professional accountants who can work with the clients to help determine their needs and customize packages that meet their requirements.

Singapore Accounting Service provided by Rikvin assures three advantages, including reduction in administrative costs, awareness and compliance with statutory regulations and allocates enough time for businessmen to focus on their operations and company objectives.

The following services are some of the common inclusion on Singapore Accounting Services:

1. Accounting Services
Bookkeeping - All companies are required to keep books of accounts as stipulated by the ...
... Singapore Companies Act.
GST Registration and filing - GST registration should be applied at Inland Revenue Authority of Singapore (IRAS). Goods and Services Tax is a consumption tax on most domestic goods and services, and it is currently at 7%.
Payroll Service - Businesses should ensure on time payment for government remittances such as CPF, confidentiality on payroll information and adherence to tax filing requirements.
Personal Income Tax Service includes advisory services on personal tax planning double taxation and relief claimable, personal tax computation & filing services (Form B1/Form B/ Form M/E-Filing), preparation of tax form IR8A (statement of salary for employees), withholding tax assistance for non-resident individuals and Personal tax clearance for individuals leaving Singapore.
Accounts Payable Services - refers to issuance of sales invoice and payment vouchers.

2. Statutory Compliance Services
ECI Submission - estimate of a company's chargeable income for a Year of Assessment. Inland Revenue Authority of Singapore (IRAS) requires all registered companies in Singapore to submit an ECI for the Year of Assessment within three months after the financial year ends
Statutory Compliance Service includes Computation of corporate tax and filing of Annual Tax Return with IRAS, preparation of Financial Statements as per Financial Reporting Standards of Singapore, preparation of Director's Report and Preparation and filing of Annual Return with ACRA.
Accounts Audit Service
Corporate Tax Returns Service

3. Tax Planning
4. Software Services
Accounting Software Implementation and Training

The firm provides a complete corporate solution under one roof for which includes assistance to Start a Singapore Company, with the opening of corporate accounts, business registration including Singapore Accounting Service, tax, immigration related to work passes visa and compliance services in Singapore. The firm has also helped encourage foreigners to register a Singapore company.