Singapore remains one of the most business-friendly countries in the world, but there are many rules and regulations that need to be strictly adhered to. Singapore is quite simply, the most transparent country in Asia. The World Economic Forum recognised Singapore as the most competitive country in Asia in terms of lack of corruption and high government efficiency in the Global Competitiveness Report 2014-2015.
Singapore actively battles corruption and transparency is highly valued. As a result, there are strict laws and legislations clearly imposed on business dealings and transactions. When it comes to accounting it is essential for any company to have accurate bookkeeping processes to ensure that they are compliant with Singapore’s various rules and regulations.
Companies are required to make five tax payments per year, so it is important that all financial earnings are clearly consolidated and reported to ensure both tax and VAT compliance.
TMF Group Singapore is equipped and experienced with accounting, tax and reporting services for Singapore.
Our local Singapore team can help with:
- Consolidated accounts preparation and reporting
- Credit control
- Investor reporting
- Local tax statutory reporting
- Management reporting IFRS and GAAP
- Payments processing
- Provision of cheque signatories for our clients’ bank accounts and liaising with relevant parties when necessary
- Tax and VAT compliance
- Trade support services