Financial and Accounting Services by EsinBiz

EsinBiz has years of experience in company registration in Singapore, accounting filing preparation, tax reporting, and professional corporate secretarial services.

Over the years, we have provided financial and tax services to many small and medium-sized enterprises (SMEs).

We understand that helping companies get started is only the first step — our goal is to help our business partners grow faster and develop their business operations in Singapore.

Therefore, we want our clients to be able to focus their energy on their core business activities, while EsinBiz is ready to handle daily accounting and tax work professionally, securely, and efficiently.

Contents of a Company’s Annual Filing in Singapore

When discussing corporate financial and tax services, we cannot overlook the annual filing (Annual Return) required by the Singapore government.

Every company in Singapore must prepare annual financial reports according to their respective fiscal years.
The following is an overview of the contents of a company’s annual report in Singapore:

Annual Financial filing

Annual financial reports help companies registered in Singapore to compile annual accounting records in accordance with government requirements.

These reports include accounting records, directors’ reports, directors’ statements, income statements, balance sheets, cash flow statements, as well as additional notes and classifications of financial statements.

Holding of Annual General Meetings (AGM)

An Annual General Meeting (AGM) must be held within 18 months after the company is established.

This meeting is chaired by the company secretary, and all decisions or resolutions taken must be approved and signed by all company directors.

Annual Tax Report

The annual tax report helps companies in Singapore prepare their annual financial statements, estimate their annual taxes, and fill out tax reporting forms in accordance with the provisions of the Inland Revenue Authority of Singapore (IRAS).

Corporate Tax Reporting

According to IRAS regulations, every fiscal year, private limited companies in Singapore are required to report their corporate taxes. Corporate tax is calculated based on pre-tax profit, not sales revenue.

The corporate tax rate in Singapore is 17%, but new companies receive tax relief for the first three years, namely tax exemption on profits of up to SGD 200,000 per year.