Accounting made easy for you.

When the firm employs an in-house staff, you often need to ensure that the fringe benefits are in place and that the staff's welfare is taken care of, which usually are indirect costs that are ignored.

With an outsourcing arrangement, you would need to worry about the above and also on staff retention. Our company has the lowest attrition rate, and our clients have also commended this. If the staff handling your engagement resigns, we can assure you that you will still be in good hands as you will still be liaising with the other team you may have to liaise with previously during the engagement; this would not disrupt the accounting work. 

In addition, one of the advantages of outsourcing is that if there is a change in the accounting standards, our staff will always be trained and updated with new changes whenever a new accounting standard is introduced. This will, therefore, reduce your recruitment processes and time and the training of the new accountant.

For us to provide you with a competitive quote, we would appreciate if you can give us the number of estimated transaction per month (on average) as such:

• Sales Invoice
• Vendors Invoice (i.e. expenses)
• Bank transactions for all bank accounts
• Petty cash vouchers
• Staff claims and payroll (headcount)

A company would be required to file an Estimated Chargeable Income (ECI) within three months after its financial year-end for your company's income earned in the preceding financial year. For example, if your company's financial year-end is 31 December 2020, the company will be required to file ECI by 31 March 2021.

Based on the ECI submitted, IRAS would issue you a Notice of Assessment ("NOA") to pay for any resulting tax arising from the ECI filed.

After that, the company would be required to file its final tax return for the financial year-end 31 December 2020 by 30 November 2021. If the tax assessed in the final tac return is the same as the ECI, no additional tax must be paid. If there is a difference, the company would either pay or receive a refund on the difference. 

Besides the corporate tax, your company would also need to prepare an unaudited set of financial statements for holding of AGM and lodging of annual returns with ACRA within six months from its financial year-end.

As for personal income tax filing, you will be required to file personal income tax by 15 April 2021 for income earned in the preceding calendar year. Our services fees for personal income tax filing starts from S$800. The fee charged would be dependent on the type of relief or benefit in kind that the employee would receive at the end of the day.

Goods and Services Tax or GST is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs) and nearly all supplies of goods and services in Singapore. In other countries, GST is known as the Value-Added Tax or VAT. GST exemptions apply to the provision of most financial services, the supply of digital payment tokens, the sale and lease of residential properties, and the importation and local supply of precious investment metals. Goods that are exported and international services are zero-rated.