Knowledge is the key to work efﬁciently. That’s why we take your business very seriously
observing every minute detail and obtaining an in-depth understanding to help you achieve your goals and targets.
Corporate Services Singapore provides comprehensive and highly integrated financial solutions to adequately address the business needs of its esteemed clients. Over the years, our team of consultants has gained an excellent track record in the following areas of specialization:
Proper accounting and bookkeeping is mandated under Singapore Companies Act and Income Tax Act. Pursuant to Section 199 of the Singapore Companies Act, directors must observe proper accounting and maintenance of books of records to reflect the financial standing of a company and provide sufficient explanation for its transactions.
Our qualified accountants and trained accounts officers abide by appropriate filing procedures and keep the entries in books of accounts compliant with statutory accounting standards. Proper accounting gives directors and shareholders access to detailed financial information and provide transparency on the current state of affairs of a company.
At Corporate Services Singapore, we deliver insightful information on corporate finances through accurate accounting services to help clients manage their business effectively and maintain corporate liquidity.
The accounting services we offer to companies in Singapore include:
- monthly, quarterly and yearly of full sets of account services
- maintenance of general ledger, accounts receivable ledger and accounts payable ledger
- outsourcing of an accountant
- compilation of unaudited financial statements
- group consolidation and reporting
Pursuant to the Singapore Employment Act, companies 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. Failure to comply with these provisions shall merit corresponding penalties or worse, the erring employer may be held liable for violating the Employment Act.
To foster employee satisfaction and avoid offenses under the Employment Act, the intricate process of filing statutory employee-employer contributions and calculating employee salaries must be performed by an experienced payroll processing specialist.
Corporate Services Singapore provides efficient payroll processing service and on-time salary disbursement in accordance with your organisation’s payroll policies and local labour laws. We process mandatory statutory deductions and provide year-end income filing (IR8A, IR21) assistance to all employees.
We provide the following quality payroll services:
- Payroll processing
- Preparation of itemised payslips
- Monthly CPF submission
- First time CPF set-up and submission of Form 1/GIRO
- Leave administration
- IR8A form preparation per employee
- Application of employment passes for expatriates
- Application for permanent resident
Audit and Assurance
Accurate audit practice instils confidence in the credibility of financial statements and critical business information. At Corporate Services Singapore, audit services are approached systematically with an independent outlook aimed to meet client expectations.
Our audit and assurance services are provided by our partner auditing firm: Assurance Affiliate, a rapidly growing firm composed of qualified Chartered Accountants (CA) registered with ACRA.
Our efficient and objective audits serve as a business improvement tool that seeks to resolve existing accounting issues. We are able to help you in the following aspects of audit and assurance:
- Statutory Audits or auditing of annual report and financial statements filed with ACRA and verify compliance with Singapore Companies Act
- Internal audits to improve management and control of business
- Special audit necessitates a comprehensive and in-depth examination of underlying accounts and company transactions
The IRAS (Inland Revenue Authority of Singapore) levies corporate income tax upon income earned in Singapore.
|TAXABLE INCOME (S$)||TAX RATE FOR FIRST 3 YEARS||TAX RATE AFTER FIRST 3 YEARS|
|0 – 100,000||0%||8.5%|
|100,001 – 300,000||8.5%||8.5%|
|300,001 – 2,000,000||17%||17%|
Table illustrating Corporate Tax in Singapore
Besides imposition of low corporate tax, Singapore also adopts one of the lowest Goods and Services Tax rates worldwide at 7%. Its single-tier corporate income taxation system prevents double taxation on the personal income of corporate shareholders. In addition, no capital gains tax and inheritance tax is levied in Singapore.
As such, all business decisions have tax implications. Thus, it is important for a company to manage its income tax requirement efficiently. At Corporate Services Singapore, our taxation specialists implement tax planning strategies that work best within your organisation. We aim to reduce existing tax liabilities through legal means and promptly file tax returns to avoid incurring costly penalties.
Our full range of taxation service includes:
- Corporate tax compliances and return preparation
- Expatriate tax services
- Partnership and personal tax filing
- Representation on taxation dispute
- GST filing and compliance
- Negotiation of tax incentives with tax authorities
- Optimising use of tax incentives and exemptions
- Withholding tax services
At Corporate Services Singapore, we deliver all-inclusive, personalised business solutions that place strong emphasis on accuracy, thoroughness and timeliness. The breadth of our expertise and experience provides formidable support to your business to ensure its growth and success.