Singapore Accounting Service Overview

By Author: Alicia Garner
Total Articles: 1
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Providing a complete set of accounting services for businesses that require comprehensive and well-constructed range of financial statements for their business is the main objective of a Singapore business registration company. The best computerized accounting systems are used in maintaining all accounting records. Professional accountants have the ability to customize packages and meet the companies' requirements by working with them to identify special needs.

Singapore Accounting Service assures the following; reducing administrative cost in, comply and becoming aware of statutory regulations and giving more time for businessmen to focus on their operations and company objectives.

The following services are categorized on Singapore Accounting Services:

Accounting Services

a. Bookkeeping - Keeping the company's books of account is required as stipulated in the Singapore Companies Act.

b. GST Registration and filing - The Inland Revenue Authority of Singapore or (IRAS) is where GST registration should be applied. Goods and Services Tax is a consumption tax on most domestic goods and services, ...
... and it is currently at 7%.

c. Payroll Service - Ensuring the compliance of certain areas such as timely remittances to government like CPF, confidentiality on payroll information and adherence to tax filing requirements are essential.

d. Personal Income Tax Service includes the following; advisory services on personal tax planning double taxation and relief claimable, computation & filing services for personal tax (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.

e. Accounts Payable Services - pertains to the issuance of sales invoice and payment vouchers.

Statutory Compliance Services

a. ECI Submission - refers to the estimate of chargeable income of a company for a Year of Assessment. The submission of an ECI for the Year of Assessment within three months after the financial year ends by all registered companies is required by the Inland Revenue Authority of Singapore (IRAS).

b. The services of Statutory Compliance is consist of 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.

c. Accounts Audit Service

d. Corporate Tax Returns Service

Tax Planning

Software Services

a. Accounting Software Implementation and Training

Resource Box:
Rikvin provides assistance to form a Singapore company, a complete corporate solution under one roof for Singapore Accounting Services, company registration of private limited companies, formation of offshore companies with opening of corporate accounts, business registration including accounting, tax, immigration related to work passes visa and compliance services in Singapore.