Accounting & Taxation
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Accounting Service
Best practice accounting
Constant Support
Our team of dedicated financial professionals is always on call.
Grant Application
Let us help you on your business grant applications.
Pride and Professionalism
We take pride in what we do, and this shows in the quality, professionalism, and accuracy of our services.
Dynamic Pricing Structures
You can afford high-quality bookkeeping thanks to ALP Peak.
Versatile Service Plans
Choose the perfect service plan for your business’s needs.
Taxation Service
Worries free tax filing
Corporate Tax Filing
From registering new company to giving expert tax planning advice, we’re here to help you.
Goods and Services Tax
We help you claim Singapore’s GST (Goods and Services Tax) with ease.
Income Submissions
Making sure you comply with the Inland Revenue Authority of Singapore, our team can assist you.
Withholding Tax in SG
We help you understand and process Singapore’s Withholding Taxes
Personal Income Tax
We can even handle your personal finances as quickly and effectively.
Let’s Talk Pricing
We have an option for every business
Starter
Revenue under S$7,000 per monthYearly accounts
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Financial Statements
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Corporate Tax Return
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Accountant & Bookkeeping
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Annual management reports
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Estimated Chargeable Income
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Unaudited Financial Statements
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Micro
Revenue under S$20,000 per monthYearly accounts
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Financial Statements
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Corporate Tax Return
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Accountant & Bookkeeping
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Quarterly management reports
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Annual management reports
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Estimated Chargeable Income
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Unaudited Financial Statements
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Boutique
Revenue under S$40,000 per monthYearly accounts
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Financial Statements
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Corporate Tax Return
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Accountant & Bookkeeping
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Monthly management reports
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Quarterly management reports
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Annual management reports
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Estimated Chargeable Income
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Unaudited Financial Statements
VENTURE
Revenue from S$10,000 per monthMonthly accounts
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Financial Statements
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Corporate Tax Return
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Accountant & Bookkeeping
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Monthly management reports
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Quarterly management reports
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Annual management reports
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Estimated Chargeable Income
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Unaudited Financial Statements
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Xero account Login
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Personal Accountant
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Corporate
Revenue from S$50,000 per monthMonthly accounts
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Financial Statements
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Corporate Tax Return
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Accountant & Bookkeeping
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Monthly management reports
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Quarterly management reports
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Annual management reports
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Estimated Chargeable Income
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Unaudited Financial Statements
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Xero account Login
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Personal Accountant
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Free Consultation
International
Revenue from S$100,000 per monthMonthly accounts
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Financial Statements
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Corporate Tax Return
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Accountant & Bookkeeping
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Monthly management reports
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Quarterly management reports
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Annual management reports
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Estimated Chargeable Income
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Unaudited Financial Statements
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Xero account Login
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Personal Accountant
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Free Consultation
Prices above are subject to change without prior notice
Value for money
Each of our packages is carefully structured to make sure you’re getting what you need, without paying for what you don’t. Our dedicated financial professionals will provide you with their complete support, attention, and experience to help you grow your business.
Accounting and Taxation in Singapore
Financial Reporting Standards (FRS)
- Compliance: Companies in Singapore must comply with the Singapore Financial Reporting Standards (SFRS), which are largely aligned with the International Financial Reporting Standards (IFRS).
- Annual Financial Statements: Companies are required to prepare and file annual financial statements that include the balance sheet, income statement, cash flow statement, and notes to the accounts.
Audit Requirements
Mandatory Audit: Companies are required to have their financial statements audited unless they qualify for audit exemptions under the small company criteria (annual revenue not exceeding SGD 10 million, total assets not exceeding SGD 10 million, and number of employees not more than 50).
Filing Requirements
- Annual Return: All companies must file an annual return with the Accounting and Corporate Regulatory Authority (ACRA) within seven months after the end of their financial year.
- XBRL Filing: Financial statements must be filed in the XBRL format, although some small companies may file simplified financial statements in PDF format.
Corporate Income Tax
- Rate: The corporate income tax rate in Singapore is a flat 17%.
- Tax Exemptions and Incentives: Startups can benefit from partial tax exemptions for the first three years of assessment. Additionally, various incentives are available for companies engaging in specific activities or industries.
Goods and Services Tax (GST)
- Rate: The GST rate is 9% as of January 1, 2024.
- Registration: Companies with an annual taxable turnover exceeding SGD 1 million must register for GST. Voluntary registration is possible for those below this threshold.
Withholding Tax
- Applicable Payments: Withholding tax is levied on certain types of payments to non-residents, such as interest, royalties, and service fees.
- Rates: The rates vary depending on the type of payment and applicable tax treaties.
Personal Income Tax
- Rates: Personal income tax rates in Singapore are progressive, ranging from 0% to 22% for residents.
- Non-Residents: Non-residents are taxed at a flat rate of 15% on employment income or the resident rates, whichever results in a higher tax.
Key Tax Filing Requirements
- Corporate Income Tax Return: Companies must file their estimated chargeable income (ECI) within three months after the end of their financial year and the annual income tax return by November 30 (paper filing) or December 15 (e-filing).
- GST Returns: Filed quarterly or monthly, depending on the company's GST cycle.
What is FAQ?
Singapore’s accounting standards ensure rigorous financial reporting, while its taxation system offers competitive rates and numerous incentives to support business growth. Contact Alp Peak for assistant on any Accounting and Taxation needs
