01

Accounting & Bookkeeping Services

  • Under the Income Tax Act and the GST Act, businesses liable to pay Income Tax and GST are required to keep their records for at least five years for accounting periods ending on or after 01 Jan 2007.
  • A company is required to hold its first AGM within 18 months after its incorporation and file the AR (Annual Return) by company secretary within 30 days after the AGM.
  • Subsequent AGMs must be held every calendar year and the interval between AGMs should not be more than 15 months.

Documents required for filing:

  • Audited Reports or Unaudited Financial Statements
  • Minute of AGM (Annual General Meeting)

Bookkeeping Service

  • General Ledger Maintenance
  • Accounts Payable Ledger Maintenance
  • Accounts Receivable Ledger Maintenance
  • Passing Journal Entries
  • Bank Reconciliation
  • Profit & Loss Statement and Balance Sheet

Accounting Services

  • Set up of Computerized Accounting System
  • Set up of Budgetary Control System
  • Set up of Project Costing etc.
  • Compilation of Unaudited Financial Statements

02

Tax Filing Services

Personal Income Tax 

Sole proprietor and partnership should submit their account under personal income tax (Form B & P).

Corporate Income Tax

  • A company is required to file its Estimated Chargeable Income (ECI) 3 months from each financial year end.
  • File the income tax form C-S/C by 30th November each tax assessment year with their Audited Reports or unaudited Financial Statements.
    A company can be exempted from statutory audit if it is qualified as a small company:
    (a) it is a private company in the financial year; and
    (b) it meets at least 2 of 3 following criteria for immediate past two consecutive financial years:
    (i) total annual revenue ≤ $10m;
    (ii) total assets ≤ $10m;
    (iii) no. of employees ≤ 50.

Goods and Services Tax (GST)

Registration for GST is compulsory if:
a) turnover is more than $1 million for the past 12 months; or
b) you are currently making sales and you can reasonably expect the turnover to be more than $1 million for the next 12 months.

1. Income Tax Computation & Filing (for sole proprietor/partnership/company)

  • Computation of tax with supporting schedules
  • Lodgement of income tax returns (including ECI and tax form B/P/C-S/C)
  • Liaise with IRAS and responding to queries and disputes regarding our filing

2. Goods & Services Tax (GST) Filing (monthly or quarterly)

Preparation, review and submission of GST returns (monthly or quarterly), including liaise and responding to queries by IRAS on our submission.

3. GST Voluntary Registration

4. GST Compulsory Registration

5. Cancellation of GST Registration

6. Application for a Waiver to submit Tax Return (for dormant company)

03

Payroll Management or Payroll Outsource Services

1. CPF Act

If you hire employees, you will need to make CPF contributions for them. This will help your employees meet their retirement, housing and healthcare needs. CPF Contribution must be made 14 days after the end of the month.

2. Employment Act:

  • Employer must pay the exact salary of their employees within 7 days after the end of salary period. For overtime work, salary must be paid within 14 days after the end of the salary period.
  • Itemise Payslip to be issued to employees

3. Inland Revenue Authority of Singapore (IRAS) – Auto-Inclusion Scheme (AIS)

From Year of Assessment (YA) 2018, participation in AIS is compulsory for employers with 9 or more employees or who have received the Notice to File Employment Income of Employees Electronically under the AIS

Unique Features of Our Service:

  • We ensure the employees’ information provided is kept confidential
  • We submit on client’s behalf employees’ CPF contribution and bank-in to individual employees’ bank account on client’s behalf
  • Update changes of local legislation as it occurs
  • No investment of payroll software is required.
  • Employee view and print ePayslip & eIR8A via email account and mobile phone

A. Payroll Computation :

  1. Process payroll computation & generate payroll reports
  2. Generate and submit bank transfer(Giro) instruction file to bank.
  3. Generate CPF computation file and submission of CPF Giro payment including CDAC, MBMF, SINDA, ECF and SDL
  4. Publish itemize ePayslip for employees to access via email account
  5. Generate annual employee IR8A file to Employer and publish eIR8A to employee after year end.

B. Payroll Management : in addition to the above Payroll Computation service, other ad hoc services available

  1. Submit IR21 for foreign employees upon resignation
  2. Claim for Government Paid Leave, like Maternity/Paternity/Child Care Leave and NS Men Make-Up Pay etc.
  3. Complete and submit IR8A/8S/App. 8A/App. 8B files under AIS

Optional:

  1. Print hard copy of payslip & IR8A etc.
  2. Add on eleave and eclaim modules

C. Other Payroll Services:

  1. Client who owns a payroll system can engage us for on-site payroll service.
  2. We also provide Payroll Computation service for overseas set up in certain Asian countries.
  3. CPF Registration, Corp Pass Registration

04

Work Pass Administration Services

1. Personalised Employment Pass (PEP)

Foreign professional last 6 months fixed overseas monthly salary not less than $18,000 or an Employment Pass holder earning a fixed monthly salary of at least $12,000 eligible to apply.

The pass holder can stay in Singapore for a continuous period of up to 6 months without a job to search for new employment.

However PEP holder is not allowed to conduct any form of entrepreneurial activity.

Pass holder is eligible for Dependant’s Pass for their spouse and children under 21 years of age and Long Term Visit Pass for Parents.

2. Employment Pass/Employment Pass Under Sponsorship

  • The Employment Pass allows foreign professionals, managers and executives to work in Singapore. Candidates need to earn at least $3,600 a month and have acceptable qualifications.
  • As part of the Fair Consideration Framework, Employer may be required to advertise your job opening on the Jobs Bank before you can submit an Employment Pass application. The advertisement must be open to Singaporeans and run for at least 14 days.
  • From 1 January 2018, pass holders will need to meet a minimum salary criteria of $6,000 to eligible for a Dependant’s Pass for their spouse and children under 21 years of age, $12,000 to eligible for Long Term Visit Pass for Parents.

3. S Pass

  • The S Pass allows mid-level skilled staff to work in Singapore. Candidates need to earn at least $2,300 a month and have the relevant qualifications and work experience.
  • Employers are subject to a quota and levy for S Pass employees
  • Employers must provide medical insurance for S Pass holders.
  • From 1 January 2018, pass holders will need to meet a minimum salary criteria of $6,000 to eligible for a Dependant’s pass for their spouse and children under 21 years of age.

4. Letter of Consent & Long Term Visit Pass

The Letter of Consent allows Dependant’s Pass of Employment Pass and eligible Long Term Visit Pass holders to work in Singapore.

5. Tax clearance for Foreign & SPR Employees (IR21)

When your non-Singapore Citizen employee (i.e. foreign or Singapore Permanent Resident employee) ceases employment with you in Singapore, goes on an overseas posting or plans to leave Singapore for more than three months, you are required to seek tax clearance for him. As an employer, you have the responsibility to file the Form IR21 and withhold all monies due to the employee for tax clearance purpose. This applies to all work pass holders including Personalised Employment Pass (PEP) holders.

Application/Appeal/Renew/Cancel of :

  1. Personalised Employment Pass
  2. Employment Pass and Employment Pass Under Sponsorship
  3. Dependant’s Pass
  4. Long Term Visit Pass
  5. S Pass
  6. Letter of Consent

05

Other Services

Including but not limited to the following business processes outsourcing:

  • CorpPass Registration & Administration
  • Claim for Waiver/Refund of Foreign Worker Levy
  • Recruitment Process Outsource Service
  • Filing for Cessation of Business (for sole proprietor and partnership only)
  • Application of Government Grant
  • Ad hoc or temporary Finance/HR/Admin Process Outsource services due to staff turnover and leave coverage.
  • Singapore PR Application etc.

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