Singapore Company Registration Specialist
We provide incorporation and corporate secretarial services

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.

Accounting and Bookkeeping Services

A Singapore Company must maintain a book of accounts. It must include the Balance Sheet, Profit and Loss Account, Equity Statement, and Cash Flow Statement according to the Singapore Financial Reporting Standard or SFRS. We have qualified and experienced accountants in our team who will assist you in maintaining your Book of Accounts, empowering you to provide a genuine and fair picture of the financial records of your business. We can also help you with regard to the auditing of your accounts, if you require it.Learn More

Singapore Chargeable Income (Estimated)

The IRAS requires that every Singapore Company submit their Estimated Chargeable Income (ECI) after the financial year (FY) of the company comes to an end. This has to be submitted within 3 months after the end of the FY. The IRAS however offers a new concession to companies that have their FY ending in October 2012 or later, from YA 2013 onwards.Learn More

Financial Statement Drafting in Singapore

It is mandatory to prepare the annual Director’s Report that adopts the Financial Reporting Standards and General Accounting Practice. The Report must clearly present the true representation of the company’s following attributes: Financial status, Assets and Liabilities, Accounting Policies, Impact of Business Activities, Dividend Announcement, Risks and Risk Handling Strategies, Retained Earnings. The Director’s Report needs to be prepared and presented along with supporting documents during the Annual General Meeting of the company.Learn More

Filing and Submission of XBRL

Effective from November 2007, every Singapore incorporated company must essentially file the Financial Statements in a special format called Extensible Business Reporting Language (XBRL). This is a computer language used for presenting financial statements. XBRL makes it possible to run business operations more efficiently, helping to improve accuracy and reliability of financial reporting with higher level of transparency and well-timed propagation of essential financial information.Learn More

Singapore Corporate Tax Service

It is mandatory for all Singapore companies to submit their yearly tax returns to the IRAS. A company must submit their audited/un-audited accounts in or before the month of November every year. The taxation methodology used in Singapore is based on the preceding year. The current year tax returns are filed on the basis of the profits made in the FY ending in the preceding year.Learn More

Goods and Services Tax (GST) Guide

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