Singapore Accounting Services

Outsource your tax, accounting and mandatory reporting in Singapore.

Gain Complete Transparency over your Books

Accountant for You

We have in - house accountant to help you handle your business books all the time. Be it Profit & Loss statement, Balanced Sheet, Cash Flow Statement, we have got it covered for you.

GST Submission

We help GST regsitered entities to submit GST on quaterly basis and take care of GST refund from Singapore's IRAS.

Filing Corporate Tax

Filing your annual corporate tax including calculation and submission to Inland Revenue Authority of Singapore ( IRAS ) with our in - depth knowledge.

Bookkeeping Service

We file financial records as per Singapore Financial Reporting Standard ( SFRS ) and manage bookkeeping for you.

Pros of Outsourcing Tax & Accounting from Us

Focus on Your Core Competencies
Outsourcing tax and accounting tasks from us allows your internal team to focus on core business activities, such as customer service, and product development.
Expertise & Compliance
Our professionals have a deep understanding of local tax laws and Singapore accounting standards. We help to ensure that your financial processes and tax filings are accurate and compliant with Singaporean laws.
Cost Savings
Outsourcing can be cost-effective because you don't need to hire and train in-house accountants or tax specialists. Top FDI uses advanced accounting software to sort the books for you.
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With Top FDI, You Can :

A ) Follow ACRA & IRAS for Accounting

Every company, regardless of its size or type, has to keep accurate financial records. This means they need to maintain good bookkeeping and accounting records. These records are like a financial diary of everything the company earns and spends.

Keeping these records properly is important because it helps companies meet the rules set by two important government bodies:

  1. ACRA (Accounting and Corporate Regulatory Authority): ACRA is responsible for regulating companies in Singapore. They want to make sure that companies follow the law and operate transparently. Keeping good financial records helps companies meet ACRA’s requirements.

  2. IRAS (Inland Revenue Authority of Singapore): IRAS deals with taxes in Singapore. They use the financial records to make sure companies are paying the right amount of taxes. Accurate records help companies meet IRAS’s tax compliance rules.

Top FDI helps companies to stay on the right side of the law and fulfill the obligations to the government bodies.

 

B ) We Create Financial Reports

Companies need to provide two important reports when they share their financial information each year:

  1. Independent Auditor’s Report: This is a document created by an independent expert called an auditor. The auditor examines the company’s financial records to make sure they are accurate and honest. Only bigger companies with high annual sales (over S$10 million), many shareholders (more than 20 people who own parts of the company), or at least one corporate shareholder (another company owning a part of it) have to do this audit. It’s like a financial checkup to make sure everything is in order.

  2. Director’s Report: This is a report written by the company’s directors (the people in charge). It tells shareholders and the public about the company’s activities and how it’s doing financially. It’s a way to keep everyone informed about what’s going on. This report is important for keeping investors’ trust and looking after the interests of the shareholders (people who own parts of the company).

Top FDI helps in creating a draft for both the reports which builds confidence among investors and protects the interests of the people who own the company’s shares.

Online Consultation Session

Book a Free 30 min Online Consultation

We help you pick and customise the process of acra business registration in Singapore in just 30 minutes.

Frequently Asked Questions

This might vary depending on the professional service provider you engage, as the procedures carried out by each provider could differ. Typically, you will be required to provide a notarised identification and address proof of all potential officers of the company, such as the director(s) and shareholder(s). If the shareholder is a corporate entity, the business registration certificate, M&AA, shareholder list and other corporate related documents will be required.

No, you do not need to be physically present in Singapore to register a company. You can appoint a local corporate service provider, TopFDI, to handle the incorporation process on your behalf.

Singapore has a flat corporate tax rate of 17% that applies to both local and foreign companies. However, various tax incentives and exemptions are available for specific types of income and industries, potentially resulting in a lower effective tax rate.

Corporate income tax in Singapore is calculated based on the company’s chargeable income, which is determined by subtracting allowable expenses, capital allowances, and tax incentives from the total revenue.

To form a company in Singapore, you must address the following three things. Choose the right business structure, register your company with ACRA (Accounting & Corporate Regulatory Authority) to legally establish your company’s existence and set up a corporate bank account, if necessary.

After you choose the name of your company, you should decide on the type of company you intend to establish.

The types include:

Private company limited by shares
Exempt private company
Public company limited by guarantee
Public company limited by shares
Unlimited exempt private company
Unlimited private company
Unlimited public company

Then you should decide the end date of your financial year and determine what needs to be filed every year. Besides, it is crucial to appoint secretaries, company directors, and other key staff (ie an auditor within the first 3 months of incorporation) as you organize the shareholders and share capital within your business. You will also have to provide the constitution and registered office address.

Private Limited Company: Private limited companies have less than 50 shareholders and their shares should not be accessible to the public. A private limited company has the most flexible business structure. It is a separate legal entity from its shareholders and directors. It enjoys limited liability, shareholders are not liable for debts that are more than the agreed shared capital. You will need to open a corporate bank account for this reason. You can also freely transfer the ownership of the company.

Sole Proprietorship: Sole Proprietorship fundamentally means there are no partners in the business where the owner can earn all the profits but also bear a higher risk if anything happens. The sole proprietorship is not a separate legal entity from the business owner and all the debts of the business are the personal responsibility of the owner due to its unlimited liability. To register as a sole proprietor in Singapore, you must be a Singapore citizen, Singapore resident, or entrepreneur passport holder.

Partnership: A partnership is a business model which can have 2 or more shareholders up to a maximum of 20 shareholders. The partnership is not a separate legal entity & partners have unlimited liability.

Limited Partnership: A Limited Partnership consists of two or more partners, with at least one general partner & one minimum partner. The general partner has unlimited liability whereas the limited partner has limited liability.

Limited Liability Partnerships(LLP): LLP lets companies operate as partnerships while benefiting from the advantages of a private limited company. LLP is a separate legal entity and partners are not responsible for any loss or liability arising from the business.

Setting up a business in Singapore is relatively simple and straightforward. However, it is advisable for foreigners to engage a registered registration agent, such as TopFDI, to manage the incorporation.

Foreigners can own 100% of the shares in a Singaporean business, but they are required to appoint at least one local resident director (either a Singapore Citizen or a Permanent Resident).

The Singapore Companies Act mandates that all Private Limited Companies must have at least one director who is ordinarily resident in Singapore. This person is commonly known as a local nominee director, nominee director, or local director.

ACRA ( Accounting & Corporate Regulatory Authority ) is the government agency of company registration, financial reporting and corporate services in Singapore.

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