ACCOUNTING & TAX

According to Companies Act, companies incorporated in Singapore must keep proper accounting records for at least 5 years. Examples of the records are business documents received from suppliers or issued to customers, bank statements, CPF statements, payroll etc. Failure to do so may result in expenses claimed being disallowed, and/or penalties being imposed.

 

MLT Professional offers a wide range of accounting and tax services to SMEs. We offer bookkeeping, tax filing, GST registration and filing, preparation of financial statements etc. We are very flexible and are able to customise our services to suit your business needs.

BOOKKEEPING SERVICES

Our bookkeeping services helps you to keep your accounts properly and prepares financial statements for your analysis. You can concentrate fully on growing and expanding your business while leaving the mundane job of bookkeeping to us!

 

Our charges are as follows:

Less than 120 transactions/yr            From $38/mth

Less than 200 transactions/yr            From $68/mth

The above quotations are a rough estimate. We will need to look at the actual files to give you a more accurate quotation.

PREPARE UNAUDITED FINANCIAL STATEMENTS

All companies need to prepare financial statements. They summarise all the transactions that have occurred in the year and present them in a manner consistent with the accounting standards in Singapore. Companies need them to hold AGM, tax submission to IRAS and apply for government grants and bank loans.

Our service fee is very competitive. It starts from as low as $368. However, if you need to report in XBRL format, pricing as follows:

 

Report financial statements in XBRL format (financial highlights)        From $700

Report financial statements in XBRL format (full set)                             From $1,000

CORPORATE TAX SUBMISSION

Under the Income Tax Act, all companies are required to file their income tax return with IRAS on time. Depending on the qualifying conditions of the company, tax filing can be in Form C, Form C-S or Form C-S (Lite).

 

Tax planning is a very important aspect of management’s decision making. As tax laws can change every few years, companies can fully take advantage of the tax breaks or tax incentives through careful tax planning. Hence you can save a lot of tax expenses.

 

Our tax packages will cover:

  • Filing of Estimated Chargeable Income 3 mths after financial year end

  • Preparing tax computations and schedules

  • Filing of Form C, Form C-S or Form C-S (Lite)

  • Liaising with IRAS and updating you on tax issues

An overview of the types of Income Tax Return and our packages are as follows:

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