Tax & Accounting

Compliance kәmˈplʌɪәns/
– the action or fact of complying with a wish or command.
– “the ways in which the state maintains order and compliance”

Why?

Singapore’s tax regime is one of the lowest in the world. With a corporate tax rate of 17%, more than 360,000 companies and businesses were incorporated from 2007 to leverage on the low tax rates and many other incentives the government has to offer. To maintain and regulate these many companies, corporate compliance has a part to play. If your Company’s not exactly a tax free company, It is imperative to maintain the company’s compliance else penalty will be imposed by the authorities and in most cases, it will be costlier than your taxes alone and this is where our taxes services in Singapore come in handy.

In principal, accounting is a very important aspect of running a business. However, not many business owners have the capabilities or even time to adhere to a laborious task. HCCS provides business owners with an accounting solution like no other.

Every year, companies will be required to file their corporate taxes to the local tax authority, Inland Revenue Authority of Singapore (IRAS). Corporate tax filings must be completed in November of the following year for all companies, solvent or not.

It is only mandatory for companies to be registered for GST once the annual revenue hits a million. In other cases, GST registration is optional and must be requrested from IRAS. GST filings are typically done on a quarterly basis.