Small company can be defined as a company's business’ annual revenue that is less than $100,000. With effect from 2020, the small companies are now required to submit e-Tax. (Remark: For those companies’ annual revenue that are more than $100,000 has started early to submit the e-Tax)

IRAS Requirements

Requirements of the Inland Revenue Department

Starting from 2020, electronic filing of Forms C-S/C below will be mandatory for all companies. The deadline for submission of Form C-s /C is December 15, 2020. The extended filing deadline of 15 Dec, which was initially introduced in 2012 as an incentive to encourage companies to e-File their Corporate Income Tax returns, will no longer be available in 2021. This means that all companies will be required to e-File their YA 2021 Corporate Income Tax returns by 30 Nov 2021.

There are two taxes for Singapore companies to declare each year, one is GST and the other is Corporate Income Tax. There are two main aspects of account management which include Annual Financial Statements + Annual Tax Statements. Reporting Business Tax + Accounting + Annual General Meeting of shareholders is what we often call as Annual Audit for Singapore-incorporated companies.

The Plight of the Small Companies

1. There is no dedicated finance department

2. Inadequate of tax preparation and accounting knowledge

So how should I prepare the annual audit for my company? That is easy to handle, Skyline Business Consulting would professionally handle your accounting and tax declaration.

What Can We Help You with

a. Annual Financial Statement

b. Report of Annual General Meeting (AGM, Annual return)

c. Annual TAX computation

d. Corporate Tax filing

e. One year Corporate Secretary

In short, we can handle all your accounts and declare all your taxes. You only need to pay once and provide the required information. No need to bother anything else and that's how easy it is!

Skyline Business Consulting Pte. Ltd. was established in 2011, is an international comprehensive business registration and company management services professional organization, its business involves registered companies, company business changes, adding or subtracting directors, tax declaration, annual audits, accounting, and providing accounts and various government preferential policy declarations. If you have any problems in any industry business in Singapore, please feel free to contact us! We are more than happy to provide professional guidance to you!