Many foreign businesses in Singapore do often stuck in calculating and filing their taxes on time. However, they have to pay the penalties for late or wrong income tax payments. It happens due to a lack of knowledge of the corporate tax slab that is fixed to 17% and GST rates 7%. Maybe the small companies have less experienced staff in-house, who are unable to calculate or do the right audit of the company’s annual expenses and manage filing of taxes on time. If you also find such issues in the accounting works or tax filing for your small business due to any reasons, you do not need to wait much. You should contact the genuine accounting and taxation service agencies in Singapore.
Such agencies can serve you with all kinds of business accounting, financing, bookkeeping, and taxation work for your business at affordable charges. You can also outsource all accounting work of the business to such agencies and be relaxed about the accounting and payroll works of the company. The reputed SME accounting service agencies in Singapore can serve you with the best range of accounting services that will be based upon standard rules of ACRA or Accounting and Corporate Regularity Authority in Singapore.
Let’s take a look at some demanded corporate accounting services offered by the top-accounting service agencies in Singapore.
1. Income Tax Calculation and Filing
If your company’s accounting staff is not able to do the right calculation and filing of income tax, you may outsource this work to the best accounting service agencies in Singapore. The professional accounting agencies in Singapore will manage all income tax calculation, filing, and tax planning services according to ACRA rules. The experienced charted accountants and tax calculation experts at agencies will do the right calculation of taxes of the company’s annual expenses and services.
They will calculate a taxable amount as per standard rule i.e. 17% and will file for the same on behalf of your company on time. Thus, you do not need to worry about income tax calculation and filing that will be handled by the SME accounting service agencies in Singapore with ease.
2. GST Registration and Filing
It is another big deal for small or foreign businesses in Singapore, as they get often stuck with issues to calculate and file GST taxes as per Singapore GST rule i.e. 7%. You can also hire accounting service agencies in Singapore to manage all GST taxes and filing needs of the business. If your company does not have a GST number, you may apply to the Singapore company GST registration service agency and get the job done.
The expert accountants at agencies will do the legal registration of GST to take the GST number for your company. After that, they will do the right calculation of all goods and services expenses and will impose the right GST tax for the same. Also, they will ensure for exact GST taxes that will be legal and will file for the same on time.
3. Bookkeeping
This service is also essential for small to large corporate companies in Singapore. The bookkeeping services are available at the best accounting service firms in the country at affordable charges. In such service, the experts will keep track records of all business data, tax filing statements, financial statements, transactions records, etc.
All the records or data will get saved in form of documentation and soft copies in the system for future reference. Thus, it will help enterprises to calculate the growth rate of business and future needs too.
4. Corporate Secretarial
This service belongs to the company’s all legal, administration, and corporate communication, governance, and statuary requirements that will get fulfilled by the expert corporate secretaries in the industry. Also, it is a legal process to appoint a corporate secretary in every company in Singapore after the completion of six months of incorporation. The role of the corporate secretary will be to manage all kinds of aforesaid works of the company. If you do not have a corporate secretary in-house, you can also outsource the same work to the private corporate secretaries available at accounting service agencies in Singapore and be relaxed about the rest of the work.
Thus, above are some vital services that you can get from genuine accounting service agencies in Singapore for your small business and complete all accounting works as per ACRA rules in the country.
