Counto

SEPTEMBER 27, 2024

CorpPass and Corporate Tax Filing: A Complete Guide for Foreign Entrepreneurs in Singapore Navigating Singapore’s regulatory landscape can be challenging for foreign entrepreneurs, especially when it comes to managing corporate tax responsibilities. 30 November: Deadline for annual corporate tax returns.

Corporation Tax 52

Corporation Tax Tax Record Keeping Auditing 52

Counto

MARCH 24, 2025

Why ECI Filing Matters Filing ECI allows IRAS to assess your corporate tax early and may result in early instalment plans for tax payments. Cash Flow Planning for Tax Payments Filing ECI early can unlock instalment payment plans for corporate tax, easing cash flow pressures. Your competitors aren’t.

Corporation Tax 52

Corporation Tax Accounting Accounting Reconciling 52

Counto

MAY 29, 2023

Corporate Taxes: Key Dates and Exemptions to Be Aware Of Navigating tax season can be daunting for many business owners, but understanding the ins and outs of filing taxes is essential for operating a successful business in Singapore. This form is for big corporations, and as such, its requirements are vast.

Corporation Tax 52

Corporation Tax Tax Bookkeeping Services Financial Statements 52

Accounting Today

DECEMBER 13, 2023

Italy's finance police had claimed that the company failed to pay taxes on about €3.7 billion of rental revenue and claimed that the company owed about €779 million after an audit of the tax years from 2017 to 2021.

Tax 189

Tax Auditing Corporation Tax 189

Counto

MARCH 23, 2025

Tax Filing and GST Compliance Corporate tax filing (Form C-S/C) and GST submissions (for GST-registered businesses) are often charged as flat fees or bundled into service packages. Costs vary based on transaction volume and complexity. IR8A filings).

Bookkeeping 52

Bookkeeping Accounting Accounting Payroll 52

Counto

SEPTEMBER 7, 2024

Understanding Audit Requirements for Private Limited Companies in Singapore As a private limited company in Singapore, understanding audit requirements is crucial for maintaining financial transparency and compliance. What is an Audit? Changing auditors can bring fresh perspectives and enhance audit quality.

Auditing 52

Auditing Financial Statements Tax Budgeting 52

Counto

JANUARY 21, 2025

Heres why you should consider working with an accounting firm: Broad Expertise: An accounting firm brings together professionals with expertise in various areas, such as corporate tax, GST, financial audits, and compliance. This broad skill set ensures that your business receives well-rounded financial guidance and advice.

Accounting 52

Accounting Accounting Bookkeeping Auditing 52

Counto

NOVEMBER 10, 2024

Audit Trail : Accurate records are required for input tax claims and to ensure smooth filing during any tax audits. Experience the Counto advantage Counto is the trusted outsourced provider of accounting, tax preparation and CFO services for startups and SMEs.

Record Keeping 52

Record Keeping Billing Invoicing Tax 52

Counto

NOVEMBER 2, 2024

Categorise Your Invoices : Use folders or tags to organise invoices by client, date, or payment status (paid/unpaid) to facilitate easier tracking and retrieval during audits. Understanding compliance is crucial to avoid penalties during audits.

Invoicing 52

Invoicing Invoice Processing Account Receivables Accounts Receivable 52

Counto

MAY 4, 2024

Explore Counto’s all-inclusive accounting plans—designed to cover everything from multi-currency bookkeeping to unlimited transactions and corporate tax filing, all without hidden fees. Upon passing this audit and settling the balance of the certification fees, your Halal certificate will be issued.

Corporation Tax 97

Corporation Tax Auditing Bookkeeping Computation 97

Accounting Tools

NOVEMBER 1, 2024

Directors usually serve on committees that focus on specific areas, such as audit, finance, compensation, governance, or risk. Related AccountingTools Courses C Corporation Tax Guide Types of Business Entities Related Article Inside Director Directors evaluate and, if necessary, replace the CEO and other top executives.

Corporation Tax 40

Corporation Tax Auditing Tax 40

Counto

NOVEMBER 10, 2024

Preparation for Audits Why it’s important: Well-maintained records ensure that your business is prepared for audits and can quickly provide the necessary documentation when required. Example: During an audit, having organised records of your expenses, including wages and capital purchases, will ensure the process runs smoothly.

Tax 40

Tax Financial Records Auditing Invoicing 40

CapActix

FEBRUARY 27, 2025

Also Read: A Comprehensive Guide for IRS Business Tax Extension Step 1: Gather Essential Business Documents Filing a business tax return online starts with preparation. Rushing into the process without the necessary documents is a guaranteed way to cause delays, errors, or even trigger an IRS audit.

Tax 52

Tax CPA Financial Records Auditing 52

Counto

JANUARY 9, 2025

These records are necessary for your GST returns and will be required in case of an audit. Experience the Counto advantage Counto is the trusted outsourced provider of accounting, tax preparation and CFO services for startups and SMEs.

Collections 52

Collections Tax Corporation Tax Financial Statements 52

Counto

JANUARY 13, 2025

Additionally, many digital platforms undergo regular audits to ensure compliance with industry standards, which can help businesses feel confident in their digital banking solutions. Experience the Counto advantage Counto is the trusted outsourced provider of accounting, tax preparation and CFO services for startups and SMEs.

Accounting 52

Accounting Accounting Accounting Software Tax 52

SMB Accounting and Consulting

MARCH 8, 2023

Tax accounting applies to individuals, businesses, and corporations. Tax accountants must use the Internal Revenue Code (IRC) to provide accurate tax returns.

Tax 52

Tax Accounting Accounting Corporation Tax 52

Counto

DECEMBER 13, 2024

These must comply with the Singapore Financial Reporting Standards (SFRS) and are a critical part of tax and compliance filings. Larger companies may require audits. Example : At the end of the fiscal year, your company prepares audited financial statements for submission to IRAS.

Financial Statements 52

Financial Statements Corporation Tax Tax Auditing 52

Counto

OCTOBER 3, 2024

Prioritise Compliance and Record-Keeping Proper record-keeping is fundamental for meeting regulatory requirements and preparing for audits. Comprehensive records not only aid in financial management but also prepare you for potential audits. Conduct Regular Financial Audits Regular audits can enhance transparency and ensure compliance.

Record Keeping 52

Record Keeping Accounting Accounting Auditing 52

Counto

APRIL 7, 2024

Not paying a salary or fee may increase company profits, leading to higher corporate taxes. Dividends issued after tax are tax-free for shareholders, as taxes have already been paid by the company. Ensure compliance with tax laws and regulations to avoid penalties or audits.

Corporation Tax 52

Corporation Tax Tax Payroll Bookkeeping 52

Accounting Tools

MAY 2, 2024

Examples of Sole Practitioners Examples of professions in which sole practitioners are common are architecture, auditing, law, and medicine. Given the specialized nature of many of these jobs, state governments frequently require that sole practitioners obtain a certification and insurance before going into business.

Corporation Tax 40

Corporation Tax Auditing Tax Accounting 40

Accounting Today

MAY 31, 2024

Companies retreat to less risky tax strategies when IRS budgets are robust, according to a new study.

Budgeting 240

Budgeting Tax Corporation Tax Auditing 240

Accounting Today

AUGUST 23, 2022

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Tax 260

Tax Corporation Tax Auditing 260

Accounting Today

MARCH 28, 2024

The campaign is part of a larger effort by the IRS to increase its scrutiny of high-income taxpayers and large businesses to help close the tax gap.

Tax 235

Tax Corporation Tax Auditing 235

Counto

OCTOBER 3, 2024

GST audits: IRAS may audit businesses using HCES; accurate documentation is essential. Example: A chocolate business exports its products with proper permits and invoices, passing IRAS audits without GST liabilities. Let Counto’s tax specialists handle Singapore’s tax complexities for you.

Record Keeping 52

Record Keeping Corporation Tax Auditing Invoicing 52

Counto

JANUARY 7, 2025

Changes to Corporate Tax Rates Adjustments to corporate tax rates may be introduced in 2025 as part of government measures to promote economic growth and address fiscal needs. What to Expect: Possible changes to existing tax incentives. Conduct regular policy audits to identify gaps.

Corporation Tax 52

Corporation Tax Payroll Financial Reporting Collections 52

Counto

SEPTEMBER 27, 2024

Conduct an Energy Audit 2.1 Example: A manufacturing SME in Singapore utilised energy audit data to shift its operations to off-peak hours, achieving a 10% reduction in overall energy consumption. Get accounting plans that combine bookkeeping with corporate tax filing to help you stay compliant at an affordable price.

Billing 52

Billing Auditing Corporation Tax Bookkeeping 52

Accounting Tools

JULY 14, 2023

Supervises None Related Articles Accounting Career Advice (podcast) Performance Targets for Accountants (podcast) Technical Accounting (podcast) The Tax and Audit Career Tracks (podcast) The Different Types of Accountants Must be detail oriented.

Tax 40

Tax Accounting Accounting Corporation Tax 40

Counto

SEPTEMBER 12, 2024

Tax Compliance Effective tax management is essential: Corporate Tax Filing: Handles corporate tax returns, ensuring compliance with Singapore’s tax laws. Income Tax: Manages income tax filings to minimise errors and maximise efficiency. At Counto, we prioritise your bottom line.

Budgeting 52

Budgeting Corporation Tax Financial Analysis Budgeting Manager 52

Counto

OCTOBER 16, 2024

Regulatory authorities may request access to this information during audits or investigations. Operational Efficiency: Quick access to BOI information reduces delays during audits. Example: A business with up-to-date BOI records can promptly provide necessary information during an audit, ensuring operational continuity.

Auditing 52

Auditing Record Keeping Corporation Tax Tax 52

Counto

FEBRUARY 7, 2024

GST Audit: Understand the implications of potential GST audits and ensure compliance with IRAS regulations. Here are some articles you might find helpful: GST registration guide Corporate tax filing Record keeping requirements The post Do I Need to Register for GST in Singapore?

Record Keeping 52

Record Keeping Corporation Tax Auditing Tax 52

Counto

MARCH 19, 2024

Proper record-keeping is crucial for accurate tax reporting and to navigate audits or inquiries by the Inland Revenue Authority of Singapore (IRAS). Experience the Counto advantage Counto is the trusted provider of accounting, tax preparation and CFO services for startups and SMEs.

Record Keeping 52

Record Keeping Financial Records Accruals Corporation Tax 52

Counto

OCTOBER 16, 2024

Maximising Input Tax Claims Tracking Eligible Expenses : Keep thorough records of expenses that qualify for input tax deductions. Maintaining Audit Trails : Ensure detailed documentation of transactions to support claims during audits.

Purchase Order 52

Purchase Order Corporation Tax Tax Auditing 52

Accounting Tools

OCTOBER 19, 2023

Related Courses C Corporation Tax Guide Types of Business Entities What is a Board of Directors? A board of directors governs a corporation. For example, there may be an audit committee , compensation committee, governance committee, and risk management committee.

Corporation Tax 40

Corporation Tax Auditing Tax 40

Counto

OCTOBER 7, 2024

Maintain records for a minimum of five years, as they may be needed for audits. Example: A startup might adopt a digital filing system for its invoices and receipts, ensuring they are readily accessible during an audit.

Tax 52

Tax Record Keeping Invoicing Corporation Tax 52

Accounting Tools

AUGUST 7, 2023

Related Courses Fixed Asset Accounting How to Audit Fixed Assets What is Depreciation? In the firm’s Year 1 tax return, it claimed the $30,000 of depreciation as a tax deduction. Micron is subject to a 21% flat corporate tax rate, so it saves $6,300 (calculated as $30,000 x 21%) by claiming the expense.

Corporation Tax 40

Corporation Tax Tax Auditing Accounting 40

Counto

NOVEMBER 27, 2024

ACRA Compliance : Ensure the system supports accurate financial reporting and is ready for audits as per Accounting and Corporate Regulatory Authority (ACRA) standards. Tax and Legal Framework : Ensure that the new system complies with local tax laws and is ready for any legal audits.

Accounting 52

Accounting Accounting Financial Reporting Payroll 52

Counto

SEPTEMBER 20, 2024

Accurate Transaction Records: Maintain meticulous records of all transactions to ensure precise GST returns and avoid audit discrepancies. Experience the Counto advantage Counto is the trusted outsourced provider of accounting, tax preparation and CFO services for startups and SMEs.

Bookkeeping 52

Bookkeeping Accounting Software Corporation Tax Tax 52