Accounting and Tax Services in Singapore
Beside the management accounts, the provision of accounting schedules and GST detailed report is also included in our bookkeeping service. Tax computation with relevant tax schedules will be available for both corporate and personal income tax returns.
Outsource Your Accounting Works to Us
No hidden fee. You get what you have read.
There are a lot of factors that affect every business. This includes keeping proper accounting records, employee training, managing resources, etc. When these are done efficiently, all these can significantly improve your business processes.
However, handling every aspect of your business can be overwhelming. Outsource your accounting works to Mighty Glory Corporate Solutions.
Engaging outsourced accounting services in Singapore is the key to keep proper accounting records that are compliant to the Singapore Companies Act. From accounting, payroll, GST reporting and compilation services, we can get you started with the right service matching your business requirements. This will not only help you fulfill all compliance requirements but also avoid unnecessary penalties.
Aside from accounting services in Singapore, we also offer tax services. Our taxation specialists can help with statutory tax filings with schedules and create tax–efficient policies for your personal and corporate tax compliance.
Accounting Services
Monthly Bookkeeping Services (SGD) 1. Low Volume of Transactions * 100 to 300 2. Medium Volume of Transactions * 350 to 650 3. High Volume of Transactions * From 690 A Annual Bookkeeping Services (SGD) 1. Dormant or inactive 350 2. Low Volume of Transactions 390 to 450 3. Medium Volume of Transactions 490 to 750 4. High Volume of Transactions From 790
| Monthly Bookkeeping Services | (SGD) |
| 1. Low Volume of Transactions * | 100 to 300 |
| 2. Medium Volume of Transactions * | 350 to 650 |
| 3. High Volume of Transactions * | From 690 |
| A | |
| Annual Bookkeeping Services | (SGD) |
| 1. Dormant or inactive | 350 |
| 2. Low Volume of Transactions | 390 to 450 |
| 3. Medium Volume of Transactions | 490 to 750 |
| 4. High Volume of Transactions | From 790 |
* Monthly Volume of Transactions Low Medium High Basis for estimating volume of transactions only: Average number of transactions, per month Less than 200 200 to 500 More than 550 Turnover amount Less than $100,000 $200,000 to $800,000 More than $800,000 Bank statements (Number of pages) Less than 5 Less than 15 More than 15
| * Monthly Volume of Transactions | Low | Medium | High |
| Basis for estimating volume of transactions only: | |||
| Average number of transactions, per month | Less than 200 | 200 to 500 | More than 550 |
| Turnover amount | Less than $100,000 | $200,000 to $800,000 | More than $800,000 |
| Bank statements (Number of pages) | Less than 5 | Less than 15 | More than 15 |
Add-on:
Extra Transactions (For Every Tier of Additional 30 Transactions) SGD 100 Per Month or Year Initial Set-Up Fee (One-Off) SGD 300 to SGD 500 Per Company (Depends on the level of business activities) Form Customisation From SGD 38 Per Form (Depends on the design complexity) Application to be GST-Registered SGD 80 Per Registration Preparation of GST Report and eSubmission of GST F5 SGD 120 Per Quarter Compilation of Unaudited Financial Statements (Inactive) SGD 400 Per Annum Compilation of Unaudited Financial Statements From SGD 600 Per Annum (Depends on the corporate structure and disclosure items) Consolidation of Financial Statements From SGD 620 Per Annum (Depends on the disclosure items) Review of Management Accounts (Prepared by Your Company or Third Party) From SGD 200 Per Financial Year (Depends on the corporate structure, complexity, volume of transactions, etc) Audit Support (Includes Draft Financial Statements, Account Reconciliation and so forth) From SGD 500 Per Report
| Extra Transactions (For Every Tier of Additional 30 Transactions) | SGD 100 Per Month or Year | |
| Initial Set-Up Fee (One-Off) | SGD 300 to SGD 500 Per Company | |
| (Depends on the level of business activities) | ||
| Form Customisation | From SGD 38 Per Form | |
| (Depends on the design complexity) | ||
| Application to be GST-Registered | SGD 80 Per Registration | |
| Preparation of GST Report and eSubmission of GST F5 | SGD 120 Per Quarter | |
| Compilation of Unaudited Financial Statements (Inactive) | SGD 400 Per Annum | |
| Compilation of Unaudited Financial Statements | From SGD 600 Per Annum | |
| (Depends on the corporate structure and disclosure items) | ||
| Consolidation of Financial Statements | From SGD 620 Per Annum | |
| (Depends on the disclosure items) | ||
| Review of Management Accounts (Prepared by Your Company or Third Party) | From SGD 200 Per Financial Year | |
| (Depends on the corporate structure, complexity, volume of transactions, etc) | ||
| Audit Support (Includes Draft Financial Statements, Account Reconciliation and so forth) | From SGD 500 Per Report |
Leave Your Accounting Needs to Us
Many companies are offering outsourced accounting services in Singapore. What differentiates us from the rest is our ability to go beyond. We do not only provide quality and reliable accounting services, but we also add value to your business by translating figures into relevant data and results.
We always believe in making you our priority. That is why we champion innovative solutions that help you grow your business. As your trusted accounting service firm, we are ready to equip you with the necessary tools to succeed and services to your varying requirements.
At Mighty Glory Corporate Solutions, this is what we do best: minimize your problems to maximize your profits. Your Mighty Solution.
Relevant Topics:
Income Tax Returns
CORPORATE INCOME TAX
-
Computation and Filing of Estimated Chargeable Income (ECI) Within 3 Months After Financial Year End
-
Preparation of Tax Computation and Relevant Tax Schedules
-
Submission of Corporate Income Tax Return (Form C or C-S) By 30 November of the Next Financial Year
-
Liaison With IRAS to Answer Its Queries About Your Company’s Tax Matters
Form C-S: From SGD 500 Per Year of Assessment (YA)
OR
Form C: From SGD 720 Per YA
(Depends on the corporate structure, complexity and corporate income tax filing status)
*Additional charges are applicable if the management accounts are not prepared by us.
PERSONAL INCOME TAX
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Consolidation of Details From All Sources of Income For the Entire Calendar Year
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Compilation of Expenses Incurred to Generate the Income
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Preparation of Tax Computation and Relevant Tax Schedules
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e-Submission of Individual Income Tax Return (Form B) By 18 April of the Next Calendar Year
-
Liaison With IRAS to Answer Its Queries On Your Personal Income Tax Matters
Ideal for Sole-Proprietor, Partner and Self-employed
From SGD 600 Per Year of Assessment
(Depends on the complexity and volume)
Accounting and Tax Packages
for Small Companies
ARISE
(If Accounts are Prepared by A Junior)- Review of Management Accounts, Prepared by Client Company ^
- Unaudited Financial Statements *
- Computation and Submission of Estimated Chargeable Income (ECI)
- Preparation of Corporate Tax Computation and Additional Tax Schedules
- Completion and Submission of Form CS or Form CS (Lite)
- Preparation of XBRL Report
SUNNY
(Financial Statements and Corporate Tax)- Review of Management Accounts, Prepared by Client Company
- Unaudited Financial Statements *
- Computation and Submission of Estimated Chargeable Income (ECI)
- Preparation of Corporate Tax Computation and Additional Tax Schedules
- Completion and Submission of Form CS or Form CS (Lite)
- Preparation of XBRL Report
STARLIT
(With XBRL Report)- Review of Management Accounts, Prepared by Client Company
- Unaudited Financial Statements *
- Computation and Submission of Estimated Chargeable Income (ECI)
- Preparation of Corporate Tax Computation and Additional Tax Schedules
- Completion and Submission of Form CS or Form CS (Lite)
- Preparation of XBRL Report
^ Does not include amending or revising the management accounts.
* Depends on the corporate structure. Does not apply to investment holding companies. Additional fees (SGD 50 to SGD 200) are chargeable if there are investment, property, plant and equipment, finance leases, banking facilities and any items, which are required to be disclosed in the notes to the financial statements.
“Follow your passion and success will follow you.”
– Terri Guillemets
The Partner You Can Trust
Are you having problems with your accounting? If you are unsatisfied with your current accounting service provider, make the switch. Our experts will assist you every step of the entire procedure.
What is best is that we are:
Offering Affordable and Competitive Rates
We guarantee that our fees are affordable and competitively priced in the industry.
Teaming with Experienced and Qualified Professionals
Our services are carried out by fully qualified and practicing personnel with many years of industry experience.
Providing Transparent Details of your Accounts
Nothing compares to a service that’s simple and straightforward. That is why we ensure that our clients always understand their accounting statements.
Giving Personalized Services with Friendly Support
As your trusted partners, we are fully dedicated to assisting you in your varying accounting requirements. We also support daily administrative and accounting software technical concerns.
You take care of business. We will take care of your accounting and taxation needs.
Be on the know with the latest regulatory compliance requirements with the help of Mighty Glory Corporate Solutions.
To know more, connect with us and call (+65) 6677 4258 or (+65) 8262 1713 today.
FREQUENTLY ASKED QUESTIONS
What is the difference between bookkeeping and accounting?
Bookkeeping is the recording of financial transactions from raw data (i.e. documents which prove the occurrence of a financial transaction) into a database.
Accounting is the process of summarizing, analyzing, consulting and communicating the financial transactions.
Financial statements are prepared during the accounting process.
Why bookkeeping is also required for sole-proprietorship and partnership?
Every business maker (also known as self-employed person) must calculate and include the business income as part of his total personal income in Form B or B1.
The precedent partner is obliged to file Form P by the statutory due date and inform the partners on their share of the business income. Subsequently, the individual partner should report his share of business income in Form B or B1 when filing his individual tax return as income under “Partnership”.
Proper bookkeeping provides accurate results for statutory compliance and other business reasons.
Can we still continue to use desktop accounting software if we hire your bookkeeping service?
Yes, we will respect your decision to continue using the company’s existing desktop accounting software.
If the business has not chosen a system, we would recommend cloud accounting software because the management can access the system anytime, anywhere for any reason, such as business meeting or emergency decision making.
We will also recommend a suitable cloud accounting solution which fits your budget, business operation and reporting requirement.
Does my company's accounts need auditing?
A “small company”, with financial year beginning on or after 1 July 2015, is exempted from auditing its financial statements.
A company shall be considered as a small company if it fulfils at least 2 of the following 3 conditions:
- The total annual revenue of the company must not exceed SGD 10 million;
- The total assets of the company for the financial year end must not exceed S$10 million;
- The number of full-time employees at the end of the financial year must not exceed 50.
The details, such as the transitional provisions and disqualification to be audit-exempted, are available here.
How do you measure a company's volume of transactions?
A report will be generated from the accounting system. It will tell the number of financial transactions (such as sales invoices, purchase bills, receipts, payments, journal entries) being captured in the database within a specified period.
The volume of transactions can be determined on the basis of these information.
What do you need from us to do the bookkeeping?
We need all documents (whether electronic or physical copies) which show the cash movement, generation of income and expenses. Such documents include but not limited to sales invoices, purchase bills, tenancy agreements, bank statements, official receipts, payment vouchers, salary reports, CPF records of payment, used cheque stubs, etc.
Our company has no trading activity. Are we still required to submit Form C-S or C?
A dormant company, which has no trading activity and income for the entire basis period, must still submit its Income Tax Return (Form C-S or C) unless it has been granted a waiver to file the Income Tax Return.