Accounting and Tax Services
Every Singapore company must maintain its accounts and bookkeeping records. Richmond provides a complete range of accounting and taxation services for small to mid-sized businesses to help comply with the standard requirements laid down by the ACRA and IRAS.
The complete spectrum of accounting services offered by Richmond helps reduce the work and costs of our clients. Including everything ranging from payroll management to bookkeeping, we can provide a total custom solution.
If the taxable supply of your business exceeds or is expected to surpass SGD 1 million during any consecutive 12 months, you will have to register for the Goods and Services Tax with the IRAS. Henceforth, your business will have to charge Goods and Services Tax (GST) on the goods or services provided.
A business that is GST registered will have to submit their GST returns on a quarterly basis. This tax collected by your company needs to be submitted to the IRAS, but the tax paid by your company needs to be claimed from the authority. Even if your business doesn’t qualify for GST, you can register your company under the GST Act on a voluntary basis. In such a case, your business will have to file GST periodically while remaining registered for a minimum 2 years.Learn More