Tax compliance service
Keep your tax filings up to date with the help of our expert tax team. We are familiar with working with the Inland Revenue Authority of Singapore (IRAS) and will make sure your tax filings are accurate, delivered on time and reduce your tax liability.
Stay on top of your tax compliance.
On-time flings & returns
We calculate and file your tax returns accurately and on time, making sure you won’t face any penalties or late fees.
Always up to date
Our professionals always stay current with the regional and local tax regulation changes.
Strategic tax advisory
We offer strategic tax advice on topics such as optimising your tax spending, decreasing the risk of double taxation, tax incentive systems and more.
Common questions & answers.
An audit is only mandatory if:
- A company is not private exempt
- Its turnover exceeds 5 million dollars
- Any shareholder with a stake of at least 5% requests one. However, all private exempt companies must prepare a report with annual accounts in accordance with the Singapore Financial Reporting Standards (FRS), signed by 2 Directors on behalf of the company (Sole director will sign singly). FRS accounts have to be filed with our local tax authorities, Inland Revenue Authority of Singapore (IRAS).
It is compulsory for businesses to come forward to register for GST when their taxable turnover exceeds $1mil per year. Businesses that do not exceed $1mil in taxable turnover may register for GST voluntarily.
- Charge GST for standard-rated supplies
- e-File accurate GST returns and pay the tax due in a timely manner
- Keep business and accounting records
- Display price with GST
- Issue tax invoices and reflect GST Registration Number
- Inform IRAS of changes
- Accounting for GST on business assets held at point of de-registration
- Additional obligations under voluntary registrationIf you are under voluntary registration, you have to:
- Remain registered for at least two years
- Make taxable supplies within two years if you have not started making taxable supplies at the point of application)
- Complete the e-learning course “Introduction to GST” within three months from the effective date of registration
- Be on GIRO arrangement for payment and/ or refund of GST
- The Comptroller may also impose other conditions on voluntarily registered business and may cancel his GST registration if any of the conditions is not met
Yes, you can use a single firm as your corporate secretarial and accounting agents. However because of the auditor’s independence rules, the audit work will have to be done by other auditing firms. We can provide you with a recommendation.