Accounting Services
Elite Corporate, we fulfil your accounting needs without any need for you in investing in technology, trained manpower and office space in the most economical way.
Every business establishment including sole proprietorship, partnership and private limited company is required to maintain proper accounts (i.e. balance sheet as well as profit and loss account) for reporting and statutory requirements (i.e. to keep proper recording and filing of accounts for 5 years).
Our well trained accounting Specialists will perform for your company the following accounting related services, namely.
- Recording all your business transactions using the well known Accounting software and business applications
- Preparing the full set of accounting transactions, ledgers and trial balances along with the consolidated reporting.
- Prepare the bank account reconciliation with your company books
- Process the pay roll comprising your staff
- Attend to your GST requirements and filing of GST returns
By outsourcing to Elite Corporate, you save on the following costs associated with maintaining a finance department:
- Accounting software
- Accounting software maintenance costs
- Computer equipments
- Full time staff salary, CPF and staff benefits
You can focus on your core competency and need not worry about accounting and reporting. Our professional and experienced team is committed to providing you with the quality services.
Taxation Services and Goods & Services Tax
We assist individuals and corporate in tax assessment, tax compliance, income tax computations and the necessary supporting schedules, as well as completing the tax return for submission to the Inland Revenue Authority of Singapore (“IRAS”).
We also communicate with IRAS regarding the company’s tax affairs with a view to reaching an agreement and finalization for each year of assessment
- Tax planning for large and small business and for individuals, companies and corporate Institutions.
- Tax Advice and interpretations of taxation law
- Treatment of capital allowances, cost incurred on renovation, and treatment of trade losses.
- Advice and calculation of withholding taxes
- Filing of tax returns including review or preparation of Annual Tax Returns for our Individual and Corporate clients
- Filing of Estimated chargeable income(ECI) for our clients
- Presenting on behalf of our clients for their cases at the Inland Revenue Department and other related authorities
- Advice on the taxation implication of specific contracts, agreements or business arrangements
- Estate and Trust tax preparation
- International taxation advice
Goods and Services Tax
We assist in the preparation and submission of GST returns.
We also assist with GST tax reconciliation, GST tax authority investigations and GST Audit.
Compilation of financial statement
A Singapore private limited company enjoys audit exemption if they meet the following requirements:
- the shareholders of the private limited company do not comprise of any corporate shareholder and it only comprise of individuals only; and
- the annual turnover of the private limited company is less than S$5million
However, every Singapore private limited company is still required to prepare unaudited financial reports in a format as required by the Companies Act and the Singapore Financial Reporting Standards (FRSs). This is for submission to the relevant authorities such as Accounting and Corporate Regulatory Authority (ACRA) and Inland Revenue Authority of Singapore (IRAS). Therefore, it is important that the financial report be prepared by a Certified Public Accountant (C.P.A.) registered with the Institute of Certified Accountants of Singapore to ensure compliance with the requirements of the Singapore Companies Act and the Singapore Financial Reporting Standards to minimise any unnecessary queries and subsequent costly amendments.
If you like to know more about this services kindly get in touch with us at accounts@elitebiz.com.sg
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