Start-up companies and Small Medium Enterprises (SME) engage outsourced accounting services, payroll services, tax services and company secretarial services to enjoy the benefit of saving time and costs.
For any companies, it would best to focus on strategic planning, marketing and wide-range development than to micro-manage such functions. They entrust such tasks to the outsourcing firms with an assurance of quality tax compliance service.
Compliance with Singapore tax rules is mandatory for every company in Singapore. An accounting firm is responsible for keeping the financial records up to date, prepare accounts reconciliation and present monthly financial reports to the business owners.
The professional team reviews all the files before entering into the accounting system and ensure that these records match to supporting invoices, and authorised payment vouchers.
Benefits to Small Medium Enterprises in Singapore
Engaging tax services from an accounting firm has become a norm for SME in Singapore and these have reduced burdens from local entrepreneurs and have them focus on expanding their business.
In a domestic SME setup, a junior accountant is hired to handle accounting, human resource, taxation and other administrative matters.
In most case, there is little checks and balance on the junior accountant’s work.
Accounting software also requires a tremendous amount of time for an employee to learn, implement it and, then input data to get financial results.
Companies who take advantage of the tax services are confident that the estimated chargeable income (ECI) and filing of Form C are reported accurately and on time to IRAS. And when IRAS has any queries, a professional tax consultant will assist you to handle such matter.
The company can save huge time, costs and efforts to get updated with latest Singapore taxation, sort out tax documents and train an in-house accountant to manage this task diligently.
In today’s dynamic and fast-changing environment, proper tax planning and tax-efficient strategies are necessary.
Focus on Sales, Marketing & Operations
SMEs need to plan and manage their investment and business operations, taking into consideration tax implications from various jurisdiction.
We provide income tax filing, personal income tax planning, and compliance services to assist SMEs to comply with annual filing obligations.
In turn, SMEs save money and time with recruiting people, training them and with micro-managing company functions but also has lesser head counts to keep.
The greatest benefit to it is that the company can avoid accounting, payroll, income tax and company secretarial tasks being left behind in case an in-house employee has left.
Our primary goal is to provide value-added services and be your preferred tax advisors as your business continue to grow.
We keep you updated with the latest Singapore tax legislation and provide you with our professional advice.
Send us an email with your enquiry so that our business service team can understand how we can help you to resolve your Singapore compliance concerns.
A member of the accounting team will contact you to hear and discuss the matter.