According to Singapore's Companies Act and Income Tax Act, all companies registered in Singapore must fulfill their statutory duties of bookkeeping, auditing, and tax reporting. Standardized financial management and tax compliance are not only legal requirements, but also important foundations for enterprises to maintain reputation and safeguard banking relationships.

📜 Statutory compliance requirements: According to Singaporean law, companies must prepare financial statements and appoint qualified auditors to conduct audits (if applicable) 🏦 ● Maintain bank relationships: Banks regularly review the financial status of companies, and compliant audit reports are key documents for maintaining normal account operations 📊 Tax declaration foundation: Accurate accounts and audit reports are the core basis for completing income tax declaration 👥 ● Shareholder Rights Protection: Provide independent and impartial financial status verification for shareholders, enhance investor confidence 🎯 Business decision support: Standardized financial statements provide reliable decision-making basis for the company's management

📈 Core audit indicator requirements 🏢 ● Group company: The ultimate holding company is established in Singapore and the entire group does not meet the criteria for a "small group" 🎗️ Public institutions: as charitable or educational organizations with an annual income exceeding SGD 500000 💳 Financial institutions: including specific industry institutions such as banks, financial companies, insurance companies, etc 📈 ● Listed companies: Companies and their subsidiaries listed on the Singapore Exchange 🌏 Foreign funded enterprises: Singaporean companies controlled by foreign capital that do not meet the exemption criteria

✅ Exemption conditions for small companies (three conditions must be met simultaneously) 💰 Annual revenue: not exceeding SGD 10 million 🏢 Total assets: not exceeding SGD 10 million 👥 Number of employees: not exceeding 50 people

⚠️ Note: Even if the exemption conditions are met, the company still needs to keep accounts and prepare financial statements.

(1) Accounting and tax reporting services 📒 • Account preparation: Prepare ledger, general ledger, and financial statements on a monthly/quarterly/annual basis 🧾 • Bill organization: Systematically organize all income and expenditure bills and vouchers 📋 • Financial statements: Prepare balance sheets, income statements, etc. that comply with Singapore accounting standards 🧮 • Tax calculation: Calculate the taxable amount and make reasonable use of tax incentives 📝 • Tax declaration: Submit ECI (estimated taxable income) and annual tax return on time

(2) Statutory audit services 📊 • Financial statement audit: independent audit conducted in accordance with Singapore auditing standards ⚙️ • Internal Control Assessment: Evaluating the effectiveness of a company's internal control system 🛡️ • Compliance Audit: Ensuring that the company's operations comply with relevant laws and regulations 🎯 • Special purpose audit: a specialized audit focused on specific transactions or events 📑 • Audit report: issue a statutory audit opinion report

(3) Tax Services 💡 • Tax planning: Legally plan taxes and fully utilize tax incentives ✅ • Tax Compliance: Ensure all tax declarations are accurate and timely ⚖️ • Tax Dispute Resolution: Assist in resolving tax disputes with IRAS (Internal Revenue Service) 🌐 • International Taxation: Handling cross-border transactions, transfer pricing, and other international tax matters

(4) Business consulting services 📋 • Company secretarial services: providing statutory company secretarial services 💼 • Financial Advisor: Provide financial management and optimization advice 🛡️ • Compliance Consultation: Ensure the company meets all requirements of ACRA and IRAS

📅 Key time for bookkeeping and tax reporting • Within one month after the end of the financial year: start the accounting work • Within three months after the end of the financial year: submit ECI (estimated taxable income) • Before November 30th each year: submit Form C/C-S income tax declaration form • Financial data retention: all financial records must be kept for at least five years

⏰ Key Audit Time • Within 6 months of the end of the financial year: Complete the audit and convene the Annual General Meeting (AGM) • Within 1 month after AGM: Submit the annual declaration to ACRA

✅ Professional Team: Composed of Singapore Chartered Accountants, Tax Agents, and Company Secretaries, with a deep understanding of local regulations ✅ Comprehensive service: providing a one-stop solution from bookkeeping, auditing to tax reporting ✅ Compliance assurance: Ensure that the company fully complies with Singapore's legal and regulatory requirements ✅ Timeliness guarantee: strictly follow the declaration deadline to avoid the risk of fines

Q: If the company is not operating, do we still need to do accounting and tax reporting? A: I need it. Even if there is no operation, a "zero declaration" is required, but it may be exempt from auditing.

Q: When did the audit exemption conditions come into effect? A: Starting from July 1, 2015, private companies that meet the criteria for small companies are exempt from auditing.

Q: What are the consequences of submitting tax returns on time? A: May face fines, up to SGD 1000, and affect the credit of company directors.