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From
US$ 495
“Transforming Singapore into a Leading Global Accountancy Hub for Asia-Pacific” On CDAS Final Report
As part of its aim to transform the city-state into a global accountancy hub by 2020, Singapore’s government has implemented a number of policies that aim to strengthen the regulatory framework.Therefore, Singapore has a wise vision to be the centre of accountancy talents, thought leaders, professional entrepreneurs, among others.
The dynamic Asia-Pacific market is continuing to grow and foreign demands for expert accountancy services as well as talents are in the rise. Singapore, which lies in the heart of the Asia-Pacific region, is perfectly suitable to ride along with the growth possibilities that seem to open up in the accountancy sector. With the financial and accounting benchmark of Singapore, we are delighted to contribute to the achievement of your business.
One IBC Limited offers a full range of corporate services, finance and accounting services to growing and evolving businesses. Services include organizational, analytical, and recording services for the financial activities of a business, and the preparation of various materials covering the financial transaction life.
Recording of transactions for all balances in the financial statements. This may include collecting customer invoices and employee expenses and recording taxes/provisions on various business transactions to enable the preparation and maintenance of general ledgers, journals, supplier and vendor lists, bank statements, inventories, and books of accounts required by local and international standards.
The Singapore Companies Act requires all companies in Singapore to maintain proper books of accounting in accordance with the Singapore Financial Reporting Standards (IFRS). Most accounting services in Singapore are outsourced to specializing firms for simply for convenience. Moreover, outsourcing bookkeeping or accounting services also ensures that companies are fulfilling the requirements created by the ACRA and IRAS, thereby avoiding any fines.
Our dedicated accounting team will assist you in preparing full sets of management accounts through our accounting software system.
| Amount (Transactions) | Fee |
|---|---|
| Below 30 | US$ 650 |
| 30 to 59 | US$ 750 |
| 60 to 99 | US$ 1,050 |
| 100 to 119 | US$ 1,210 |
| 120 to 199 | US$ 1,450 |
| 200 to 249 | US$ 1,520 |
| 250 to 349 | US$ 2,025 |
| 350 to 449 | US$ 2,830 |
| 450 and above | To be confirmed |
Compilation report by a professional firm will ensure all due diligence and fulfill all required technical competence. Companies that are exempt from audit and filing requirement are still required to prepare a full set of financial statements including notes to the accounts and must be accompanied by the Directors’ Statement
XBRL (eXtensible Business Reporting Language) is a reporting format which allows the system to read and analyse relevant financial data. Most companies would be required to file their financial statements in XBRL via new BizFinx system. We will assist in converting soft-copy financial statements into XBRL format as well as resolving genuine and possible errors detected by BizFinx system.
| Services fee of Financial Statement Compilation and XBRL Services |
|---|
| from US$ 495 |
All Singapore incorporated companies must conduct a statutory audit for the preparation of accurate and effective financial reports unless the company is exempted to do so.
Statutory audit is a crucial part of an organization as it plays a vital in its smooth operation and management.
Our auditors and assurance teams include qualified chartered accountants who are well trained and are dedicated to providing you with the best service. Let’s help you in compliance with Singapore Standards of Auditing (SSAs) and Singapore Financial Reporting Standards (FRSs).
ACRA does not require small private companies to submit audited financial statements if they meet two of the three following criteria:
Companies are likely to submit two corporate income tax forms to IRAS every year:
ECI is an estimate of the company's taxable income (after deducting tax-allowable expenses) for a Year of Assessment (YA).
| Due date | Within 3 months from Financial year end |
| Within 1 month after the notice of assessment (NOA). |
| Due date | 30 November |
| 15 December (e-filing) |
Our corporate tax services include:
| Tax Return | |||
| ECI (*) | Form C-S | Form C | |
| Company | US$ 500 | US$ 499 | US$ 699 |
| Form | C-S | The company must meet all the four criteria in order to file Form C-S (*). |
| C | If your company does not qualify to file Form C-S, you must submit Form C |
(*)From YA 2017, companies will qualify to file Form C-S if they meet all of the following conditions:
| Years of assessment 2018 to 2019 | ||
|---|---|---|
| Chargeable income (SGD) | Exempt from tax | Exempt income (SGD) |
| First 100,000 | 100% | 100,000 |
| Next 200,000 | 50% | 100,000 |
| Total | 200,000 | |
| Year of assessment 2020 onwards | ||
|---|---|---|
| Chargeable income (SGD) | Exempt from tax | Exempt income (SGD) |
| First 100,000 | 75% | 75,000 |
| Next 100,000 | 50% | 50,000 |
| Total | 125,00 | |
A partial tax exemption and a three-year start-up tax exemption for qualifying start-up companies are available.
| Years of assessment 2018 to 2019 | ||
|---|---|---|
| Chargeable income (SGD) | Exempt from tax | Exempt income (SGD) |
| First 10,000 | 75% | 7,500 |
| Next 290,000 | 50% | 145,000 |
| Total | 152,000 | |
| Year of assessment 2020 onwards | ||
|---|---|---|
| Chargeable income (SGD) | Exempt from tax | Exempt income (SGD) |
| First 10,000 | 75% | 7,500 |
| Next 190,000 | 50% | 95,000 |
| Total | 102,500 | |
GST-registered business must submit GST to IRAS one month after the end of each prescribed accounting period. This is usually done on a quarterly basis.
Thank you for your continued support of One IBC. Your pleasure is indeed valuable to us, and we hope that we have succeeded in offering exceptional corporate services to all of our clients.
There are four rank levels of ONE IBC membership. Advance through three elite ranks when you meet qualifying criteria. Enjoy elevated rewards and experiences throughout your journey. Explore the benefits for all levels. Earn and redeem credit points for our services.
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Referral Program
Partnership Program
We cover the market with an ever-growing network of business and professional partners that we actively support in terms of professional support, sales, and marketing.
We are always proud of being an experienced Financial and Corporate Services provider in the international market. We provide the best and most competitive value to you as valued customers to transform your goals into a solution with a clear action plan. Our Solution, Your Success.
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