Explore Types of Tax Filing and Accounting Services for Businesses in Singapore

Singapore is one of the best business destinations in the Asia Pacific, where you find ample opportunities to grow small to mid-size businesses and expand their wings to the international level. Here are several significant reasons, which make Singapore an ideal destination to set up a new business such as good infrastructure and lifestyle, technology-driven society, favourable business environment, colossal corporate buildings and commercial spaces, low-income tax rates, easy-to-set-up business rules and get PR residency, business security, and more. All these reasons make the Singapore city-state the right place to start a business and grow it at a global level by having business engagement with leading brands and international dealers. So, if you are intending to make a business to the next level in the industry, you should not start a new venture in Singapore and grow in the industry.

Professional Assistance for Business Registration and Tax Filing

If you want to run business smoothly in Singapore, you should have to maintain a good record of business account and tax filing. But, many foreign businesses fail to complete the business registration process and tax filing as per the rules of ACRA and IRAS authorities in the country. If you are also lacking in tax filing or managing business accounts in Singapore according to the rules of the Accounting and Corporate Regularity Authority (ACRA), you may take the aid of genuine business tax filing and registration service companies in Singapore.

There are many licensed or authorized business registration service agencies in Singapore, which are one-stop places to get a complete range of tax filing services and business registration or incorporate solutions for foreign businesses. So, you can approach such agencies in Singapore and get rid of any sort of tax filing, accounting, business registration, and other services as per the rules of ACRA and IRAS authorities in the country.

Let’s take a look at some potential accounting and tax filing services offered by the leading business tax filing and registration service agencies in Singapore:

Accounting And Business Tax Filing Services in Singapore

1. Income Tax Filing 

Every business in Singapore needs to file business taxes as per the standard rules of ACRA authority. Hence, every business must understand the accounting and tax filing rules in Singapore and ensure you calculate and file business taxes on time. As per the government rules, the tax filing rate for corporate businesses is set up to 17% and the GST tax rate is 7%. Hence, every business has to pay income taxes accordingly.

If you lack in calculating the right business taxes as per the rates, you may take the aid of trusted business tax filing service companies. You will get accurate tax filing services from authorized tax and accounting service agencies in Singapore at affordable charges. Thus, you can manage to file income tax and auditing works of business with help of leading accounting and tax filing service-providing firms.

2. GST Tax Filing

Singapore government has set rules for GST filing on all level businesses that are fixed at 7%. Hence, every business has to file for GST registration first to apply for its GST tax filing as per ACRA and IRAS rules. If you still not have applied for GST tax for business, you should approach Singapore company GST registration service agencies soon. At such stop, you will get easy services for GST number application and filing services as well. The GST registration agencies will facilitate you for applying for Goods and Service Tax or GST number in Singapore through the standard process.

Also, the tax filing service agencies will help you calculate and file for GST tax on behalf of your company as per ACRA and IRAS rules. Thus, you may not miss calculating and filing for GST tax in Singapore and run your business smoothly.

3. Online Tax Filing

Many businesses in Singapore seek online tax filing options that facilitate them to calculate the right business taxes as per ACRA rules and save time and money. If you are unaware of how to process the business tax calculation and filing online, you may take the aid of genuine business tax filing service agencies in Singapore. Also, you may outsource the business tax filing works to such agencies and be relaxed.

The authorized tax filing and accounting firms in Singapore will timely file your business taxes online through standard tax filing portals i.e. e-Filing and myTax –IRAS. If you are seeking to apply for ITR for business in Singapore, you may refer to such income tax websites to file taxes as per the rules. For details on how to use such sites for filing taxes online, you can take consultation with business tax consultants or tax filing service agencies in Singapore.

4. Bookkeeping Service

Many small businesses in Singapore lack maintaining records of their business clients, transactions, and other previous records which may create issues while calculating business taxes and comparing growth rates in accordance to the previous years. To overcome such issues, you should apply for Bookkeeping services from any tax and accounting service agency in Singapore. This sort of accounting service belongs to maintaining records of each business finance transaction in form of a document or soft copy. Thus, you will not miss acknowledging financial transactions of business and managing records of them that will help you in business to calculate taxes and the growth rate of a company. You can apply for Bookkeeping services from top accounting service agencies in Singapore.

5. Tax Agent Service

If you require professional tax agent services for calculating and filing business taxes, you should contact the top tax filing service firms in Singapore. At such stops, you will find skilled and experienced tax filing agents, who have in-depth knowledge of tax filing laws and ACRA rules in Singapore. Also, they can assist you in calculating business taxes, deductions, accurate tax filing, and more. Moreover, you can hire a tax agent for full-time or part-time service in your company as per need. You will find licensed tax agents at the leading accounting and business registration firms in Singapore. So, you may hire tax agents for all sorts of tax calculation, filing, and tax planning needs and get accurate results.

Read Also:- Things to Think About When Selecting a Tax Preparer

6. Outsource Payroll Service

If you are unable to manage payroll works and records of your business staff, you can outsource payroll work to third-party business tax filing service firms. There are many such firms, which provide outsourced payroll service that facilitates companies to streamline all payroll requirements of business employees as per company policies. Also, you will get aid for administration and other payroll works under outsourced payroll services offered by the leading tax and accounting service agencies in Singapore. Thus, you can reduce the work pressure on your company’s HR professionals and save their time for other work.

Thus, you will get all the above significant services from the top-rated business tax filing service and accounting firms in Singapore to manage all taxes, GST, and account-related works as per the standard rules of ACRA and IRAS authorities in Singapore. To manage all such work, you need to find a genuine accounting and tax filing agency first.

Here are some key points to check before availing of tax filing services from any agency in Singapore:

• Have a look at the website, reputation, and service track record of the tax filing and accounting service firm and ensure all have good records.
• Check for the types of tax filing and accounting services offered by the agencies and ensure all services are reliable and as per ACRA and IRAS rules in Singapore.
• There should be skilled accounting and taxation professionals in the agencies, who can handle all types of business taxes, GST tax filingand calculation work, bookkeeping, and other works of businesses.
• There should be the scope for outsourcing all types of business taxes, auditing works, payroll, and other business services at third-party agencies.
• Finally, you need to check the service charges of all types of tax filing and accounting services available at the agencies.

Thus, you should acknowledge all the above points before dealing with any tax and accounting services firm in Singapore.