Pay GST
2019-06-24
Corporate Income Tax Rate
2019-07-23
Accounting Requirements
The accounting standards prescribed in Singapore (“Singapore Financial Reporting Standards” or SFRS) are consistent with those of the International Accounting Standards Board (IASB).
The Accounting Standards Council of Singapore (ASC) develops, reviews, amends and approves accounting standards for use by companies, charities, co-operatives and general societies.
Listed companies may also use IFRS standards with the permission of the securities regulator.
Foreign companies whose equity securities are primarily listed in Singapore must adopt SFRS, IFRS standards or US GAAP.
However, Singapore companies can choose the periodicity of doing the accounts according to their business and government requirements. Some companies do monthly accounts, some do quarterly, half-yearly or annual accounts.
Generally, an average international trading or investment company (with local sales of less than S$1 million) will do annual accounts – once a year.
If the company has local sales of more than S$1 million a year, then the company is required to register as a GST-registered company. Companies are required to do quarterly accounts as per Inland Revenue Authority GST filing requirements (tri-monthly).
Accounting and Corporate Regulatory Authority of Singapore licensed corporate advisory firm.
Singapore Company Registration, Annual Return, Accounting & Tax
Trademark Registration, Corporate Advisory, Serviced Offices.
6 Raffles Quay，#14-02， #14-06， Singapore 048580