Accountancy in Singapore
If you have a company in Singapore, then you need to prepare annual financial statements on the activities of the company. Financial reporting, management report, and auditor’s report – we are ready to provide you with all these services for your business.
The accounting that Singapore companies maintain is based on standards that contain the basic rules and principles for accounting for financial transactions of a different nature. These standards were designed to systematize a set of requirements for the process of reflecting important events and processes of any company on the balance sheet of an enterprise.
Regulatory regulation in Singapore is divided into two levels:
- legislation – at this level, fundamental documents are applied, for example, the law on companies, as well as the Regulations for the preparation of reporting and accounting in companies;
- a set of by-laws – this includes regulations such as the SSFO (Financial Reporting Standards for Singapore Enterprises).
The specialists of our company will be glad to assist you with bookkeeping in Singapore. The company provides a comprehensive, quality service for your business & all types of audit services including, financial reporting, management report, and auditor’s report, as well as offering a consultation.
The authority to approve national financial reporting standards is vested in a special body – the Council for Disclosure of Information and Corporate Governance.
The tasks of such a body include:
- Creation of financial reporting forms taking into account the standards of accounting and reporting in Singapore.
- Dissemination of accounting principles, reporting, and disclosure practices following trends and processes characteristic of modern enterprises.
- Improvement of corporate governance rules and promotion of best practices in their application.
Bookkeeping for business
Our company provides consultations and highly qualified accounting services, on issues of legislation and taxation. Our company offers full accounting support in Singapore.
Taxes in Singapore
The tax system in Singapore is based on a territorial principle, according to which taxes are paid on profits arising/received in Singapore.
Learn about taxes
Minimal administrative barriers and clear tax rules attract entrepreneurs from all over the world to Singapore. It is easy to do business in this country, according to statistics. Learn about taxation and tax rate in Singapore jurisdiction.
The accounting system in Singapore is based on the International Financial Reporting Standards (IFRS). Public companies are required to use IFRS. In addition, small and medium-sized businesses enjoy this right.
Content of the annual report
- corporate profile
- management comment
- corporate governance report
- statutory report
- annual financial report
Content of the annual financial report
- balance sheet
- gains and losses report
- cash flow statement
- statement of changes in equity
- audit report
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