Corporate Tax Matters
- Let us handle your corporate tax matters and don't forget a date again!
- GST Filing
- Annual Returns
- AGM
- Form C/C-S Submission
- Tax Consutation and Advisory
Personal Tax Matters
- Let us handle your corporate tax matters and don't forget a date again!
- CPF Payment
- Tax clearance Form IR21
- Form IR8A / AIS Submission
- Payroll Services
- Tax Consultation and Advisory
Trusted by entrepreneurs around the world
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All in one
Every service is under one platform and the team is very responsive particularly adapting to our needs where we had to account separately for different business segments. The fact that we could have all our compliance and accounting needs met under one roof was a big plus.
7 Days Ago
Excellent Service
The team was very knowledgeable and helpful in ensuring we make the right choices before the incorporation. The service provided by was excellent. Overall, the process was hassle free and very straightforward. We will have no hesitation recommending Incorpnow in the future.
10.04.2018
Customer Focus
Fantastic client service, close and attentive follow through – I love the referral of the extended network to expedite onboarding process. Well done IncorpNow Team!
5 Month Ago
Convenience at its best
IncorpNow is reasonably priced and very convenient. I ended up signing my documents while I was on the MRT!
6 Month Ago
FAQ
What is it?
How does it work?
How does accounting work?
Accounting tracks all your business activities and assets. Any time you spend, lose or make money, your bookkeeper adds it to the books. Your accountant then builds reports using these numbers. The government requests these reports to calculate how much tax you owe and whether you are exempted from some of it.
Why is accounting important?
First of all, you have an obligation to report your accounts to the government: that’s how your tax is calculated. Second, accounting is crucial for internal planning and management. Mistakes could be costly: the government punishes wrong reports with fines. Not to mention, you probably base your evaluations and plans on the same numbers. So, making sure your accounting is accurate is crucial.
What are the accounting standards in Singapore?
Singapore has its own system called Singapore Financial Reporting Standards (SFRS). It’s similar to IFRS and it’s accrual-based accounting. Which means transactions are recognised when they take place and not when the money is paid. Outsourced accounting services in Singapore must comply with SFRS requirements.
Can I switch from another accounting firm to Incorpnow?
Absolutely. We make the transition seamless on your end. We’ll get in touch directly with your current accounting service provider, take over all your financial documents, and audit them to make sure your company is compliant. We check necessary reports. We offer up ongoing advice about relevant tax exemptions, helping you be smarter with your taxes. Now that your accounting is in good hands, you can focus on what you do best: running your business.
What accounting services do you have for small businesses?
We help small businesses in Singapore with all necessary accounting services. We prepare financial statements, ECI tax reports, XBRL (full and highlights) and handle bookkeeping. We can apply for GST registration and submit regular reports for GST-registered companies. If your case is special, let us know and our specialists will be happy to help with accounting for your company.
In what form should I submit my data?
Incorpnow is an online accounting company. Send us your records in whichever format you have them. Drop your files in our app, store them in a cloud or email to our experts — we’ll take care of the rest.
What do I have to report to the Inland Revenue Authority of Singapore (IRAS)?
All companies are required to submit two corporate income tax returns annually — Estimated Chargeable Income (ECI) within three months from financial year end and Corporate Income Tax Return (Form C/C-S) by 30th November or 15th December if via e-filing. Unless qualifying conditions are met for ECI waiver or company has been granted Waiver of Income Tax Return Submission by IRAS.
How does your accounting software work?
We have developed our own software. We recognise invoices and receipts, reconcile them with transactions, and update your documents and outstanding bank balance daily. We support single and multiple currencies, show actual list of all unpaid invoices and report to you if anything document is missing.
How to outsource accounting services in Singapore?
When it comes to outsourcing, you need to look for an accounting services provider in Singapore. They usually offer accounts receivables and payables management, bookkeeping, financial statements and reporting, controller services, financial planning and analysis, cost accounting, forensic accounting and tax reporting and filing.
What’s more, small business entrepreneurs or new foreign investors may require specific accounting services in Singapore. These include GST computation and conversion of financial statements to XBRL (extensible business language) format. Also, generally, most companies incorporated in Singapore and branches of foreign companies (apart from exempt companies) are mandated to prepare annual financial accounts and company financial reports according to the Singapore Financial Reporting Standards (SFRS). And if you are not up-to-date with these regulations, you will need to opt for outsourced services.
Since the year 2011, the Accounting and Corporate Regulatory Authority (ACRA) has established the Financial Reporting Surveillance Programme (FRSP). With this, a selected pool of your company’s financial statements is reviewed to determine if they comply with the SFRS. It is important to note that Singapore is moving towards adopting the International Financial Reporting Standards (IFRS). Accordingly, the preparation of the financial accounts in XBRL format is challenging for those unfamiliar with filing. In this case, it is best to consult a qualified professional from an experienced accounting firm.
