Accounting and Bookkeeping Services
FocusCore continues to work with you after your company registration. We have a team focussed on all aspects of accounting, bookkeeping, payroll, recording and submission of accounts, with if required, senior CFO skills to guide you running your business in Singapore.
FocusCore provides tailored solutions according to your resources and your business goals, these include;
- Data entry of your bookkeeping records into accounting software.
- Reconciliation of bank statements
- Reconciliation of Accounts Receivables and Accounts Payables
- Preparation of accounting reports & financial statements in accordance with the Financial Reporting Standards of Singapore
- Consolidation accounting and preparation of group financial statements in accordance with the Financial Reporting Standards of Singapore
- From March 2014, companies are required for file their financial statements in XBRL. We can you assist with this requirement.
- Managing and processing staff salaries with statutory deductions
- Managing staff Expense repayments
- Advising as instructed and calculating benefits for staff
- Completing payments to staff and authorities
- Assisting with final payment for a member of staff if they leave your company
- Providing year-end tax forms for staff
- Providing personal tax returns for submission to Singapore Tax Authorities
With experience in Singapore and across the Asia Pacific Region FocusCore can provide multiple services related to taxation planning including;
- Researching options for your tax strategy to minimise tax exposure.
- Assisting you to find and implement the most tax effective staff pay strategies.
- Guiding you on the most effective strategies for investments and exit planning.
- Advising on and filing of corporate taxes.
- Advising on and filing of personal taxes.
Goods and Services Tax - GST
The Goods and Services Tax in Singapore is levied on import of goods, as well as most supplies of goods and services. The only exemptions being for the sales and leases of residential properties and most financial services. Export of goods and international services are zero-rated.
GST was introduced on 1 April 1994 at 3%. It has been increased on several occasions and was increased to its current rate of 7% on 1 July 2007.
FocusCore are experts in this field and can provide assistance in the following ways:
- Guiding you on Singapore GST
- Advising on the best set up structure – is GST registration best for your company?
- Applying for GST registration.
- Preparing returns for the GST