Accounting and Tax

Select Customized Accounting and Tax Packages

FS and Tax Package
Recommended for Entrepreneurs who have completed general bookkeeping during the financial year
from S$ 650
+ Package Details
This package includes:
1. Compilation of Financial Statements

2. Corporate Tax Submission including
▶ Estimated Chargeable Income (“ECI”) filing within 3 months from your accounting year end
▶ Preparation of Main Tax Computation
▶ Preparation of Additional Tax Schedules required
▶ Tax Filing of simplified Form C-S to IRAS (Fee subject to changes for Form C filing)
Best Recommended for
▶ Companies that have in-house bookkeepers who maintained the company accounts regularly in an accounting system. All you need to provide to us are your balance sheet, profit and loss and general ledger records for a start. We will review your accounts and should there be a need to gather more information, we will let you know what else we need to complete your financial statements and tax filing.

▶ Companies with light volume of transactions that are recorded in non-accounting software like Microsoft Excel. Let us review the records and assess if information captured is sufficient to carry out the compiling and tax work. In some instances, we can help you make right your records for an additional fee.

Quick Sign Up – FS & Tax Package

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All-In-One FS + Tax + AGM Package
Recommended for Entrepreneurs who have their own bookkeeping in place and would like to cover both IRAS and ACRA obligations
from S$ 790
+ Package Details
This package includes:
1. Compilation of Financial Statements

2. Corporate Tax Submission including
▶ Estimated Chargeable Income (“ECI”) filing within 3 months from your accounting year end
▶ Preparation of Main Tax Computation
▶ Preparation of Additional Tax Schedules required
▶ Tax Filing of Form C-S to IRAS (Fee subject to changes for Form C filing)

3. Company Secretarial Support
▶ Provision of named company secretary for the Company
▶ Preparation of Standard AGM documents
▶ Submission of Annual Return to ACRA
▶ E-Reminder Service to remind Company of deadlines
Best Recommended for
▶ Companies looking for total fulfilment of standard statutory obligations towards IRAS and ACRA.

▶ Companies that have in-house bookkeepers who maintained the company accounts regularly in an accounting system. All you need to provide to us are your balance sheet, profit and loss and general ledger records for a start. We will review your accounts and should there be a need to gather more information, we will let you know what else we need to complete your financial statements and tax filing.

▶ Companies with light volume of transactions that are recorded in non-accounting software like Microsoft Excel. Let us review the records and assess if information captured is sufficient to carry out the compiling and tax work. In some instances, we can help you make right your records for an additional fee.

Quick Sign Up – All-In-One FS + Tax + AGM Package

Leave us a message if you would like to find out more about our All-In-One package!

Our dedicated accounting specialists will contact you to provide you with the assistance you need.

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Full Fledged Accounting and Secretarial Package
Recommended for Entrepreneurs with no in-house accountants, and First Time Entrepreneurs with no accounting and tax experience
Contact
+ Package Details
This package includes:
1. Bookkeeping Service (inclusive of GST reporting for GST registered companies)

2. Compilation of Financial Statements
▶ Estimated Chargeable Income (“ECI”) filing within 3 months from your accounting year end
▶ Preparation of Main Tax Computation
▶ Preparation of Additional Tax Schedules required
▶ Tax Filing of Form C-S or Form C to IRAS

3. Corporate Tax Submission including
▶ Estimated Chargeable Income (“ECI”) filing within 3 months from your accounting year end
▶ Preparation of Main Tax Computation
▶ Preparation of Additional Tax Schedules required
▶ Tax Filing of Form C-S or Form C to IRAS

4. Company Secretarial Support
▶ Provision of named company secretary for the Company
▶ Preparation of Standard AGM documents
▶ Submission of Annual Return to ACRA
▶ E-Reminder Service to remind Company of deadlines
Best Recommended for
▶ Companies looking for total fulfilment of standard statutory obligations towards IRAS and ACRA.

▶ Companies that do not have in-house accountants to manage their accounts.

▶ Business Owners who are not familiar with bookkeeping and tax matters.

Quick Sign Up – Full Fledged Accounting and Secretarial Package

Leave us a message if you would like to find out more about our full-fledged accounting and secretarial package!

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Full Fledged Accounting and Secretarial Package with Payroll
Recommended for Entrepreneurs with no in-house accountants, and First Time Entrepreneurs with no accounting, tax & payroll experience
Contact
+ Package Details
This package includes:
1. Bookkeeping Service (inclusive of GST reporting for GST registered companies)

2. Payroll Service

3. Compilation of Financial Statements

4. Corporate Tax Submission including
▶ Estimated Chargeable Income (“ECI”) filing within 3 months from your accounting year end
▶ Preparation of Main Tax Computation
▶ Preparation of Additional Tax Schedules required
▶ Tax Filing of Form C-S or Form C to IRAS

5. Company Secretarial Support
▶ Provision of named company secretary for the Company
▶ Preparation of Standard AGM documents
▶ Submission of Annual Return to ACRA
▶ E-Reminder Service to remind Company of deadlines
Best Recommended for
▶ Companies looking for total fulfilment of standard statutory obligations towards IRAS and ACRA.

▶ Companies that do not have in-house accountants to manage their accounts.

▶ Business Owners who are not familiar with bookkeeping and tax matters.

Quick Sign Up – Full Fledged Accounting and Secretarial Package with Payroll

Leave us a message if you would like to find out more about our full-fledged accounting and secretarial package with payroll!

Our dedicated accounting specialists will contact you to provide you with the assistance you need.

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Accounting and Tax

Accounting and Tax
Our Services at a Glance
ContactOne Professional Services offers a wide range of accounting and tax support to emerging and small to medium enterprises. Our services include bookkeeping, compilation of financial statements, payroll management, tax planning, corporate tax services and GST filing submissions. Our services are highly customizable and we are able to support your business depending on the exact need of your accounting and tax requirements.

Click on the Relevant Services to find out more on what we can offer in each aspect of the entire Accounting and Tax Cycle.

Bookkeeping Services
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Our experienced bookkeepers can help you with the data entry of your business transactions. The bookkeeping aspect is the most time-consuming and tedious stage of the entire accounting function. Save time and valuable resources by allowing ContactOne to help you in your bookkeeping activities.
Our bookkeeping services will translate your business transactions into useful financial information relating to your company performance. You will be able to review your company financials using the management report package generated by us, which can include the following reports:
▶ Balance Sheet
▶ Profit and Loss
▶ General Ledger
▶ Accounts Payable / Accounts Receivable Listing
▶ Fixed Asset Schedule
▶ GST Report for GST Registered Clients
▶ Bank Reconciliation
Accounts Rescue Service
We understand that in some instances, your company accounts may not be done up in the best possible manner, and we do provide accounts rework service to make right your books for a one-time fee depending on the scope of work to be performed.
How are our Bookkeeping Fees Derived?
Bookkeeping Fee Guide
You can estimate the expected amount of accounting fees based on the following general guidelines. Assuming your business has a simple structure with no complex accounting involved, and requires annual accounting with no urgent timeline to be met:

The estimated accounting fee increment for every additional 40mm Arch File of documents is approximately $250 - $300.
The estimated accounting fee increment for every additional 75mm Arch File of documents is approximately $500 - $700.

Please note that the estimated fees illustrated are indicative in nature. Feel free to contact us to obtain a non-obligatory fee quote that will best reflect the quantum of accounting work necessary for your company.


For an accurate fee quote to be presented, we will need to obtain the following information from you:
How to Get a Fee Quote
For an accurate fee quote to be presented, you may either provide us with some details of your company through our web form, email or simply call us at 6333 0633.

Documents to be submitted to ContactOne Professional Services for Bookkeeping Service
For bookkeeping clients, the following documents and information will be essential for us to prepare your accounts:
▶ Bank Statements
▶ Sales Invoices
▶ Expense Invoices and Receipts
▶ Fixed Asset Invoices (example: Invoice for laptops, computers, software, invoices for equipment and machinery, Sales and Purchase Agreement and payment evidence for Commercial Properties etc…)
▶ Cashbook (if any)
▶ Payment vouchers (if any)
▶ Receipt vouchers (if any)
▶ Cheque Studs
▶ Loan Statements (if any)
▶ Payroll Records (example: Payment advice/evidence to staff, CPF monthly Records)
▶ Any other schedules you may have prepared during the year (example: Sales listing, Expense listing, payroll schedules etc…)

Do not worry about the perceived voluminous amount of records we need! For first time clients, we will guide you through on the required documents necessary specific to your business activities.
Compilation of Financial Statements
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What are Financial Statements?
The financial statements compilation aspect is the portion whereby all your bookkeeping records are translated into a proper accounts, presented in accordance applicable accounting standards in Singapore. You will typically need financial statements for the purpose Annual General Meetings, tax submission and accountability to shareholders of the Company. In some instances the financial statements are used to obtain banking facilities, apply for government grants and to meet regulatory requirements in specific industries.
Our Fees – Compilation Fee for Unaudited Financial Statements
For Our Bookkeeping Clients For Non-Bookkeeping Clients
included in package S$375

Additional fees associated with unaudited financial statements compilation Additional Fee
Inclusion of fixed assets disclosure $50
Inclusion of Bank Loan and/or Hire Purchase disclosures $100
Compilation of Parent Company with Group Level reporting $400
Any other additional FRS disclosure requirements $50 - $200
Translation of Financial Statements to XBRL format (financial highlights) $150 - $250
Translation of Financial Statements to XBRL format (full set) $300 - $600
Most companies in Singapore are only required to prepare unaudited financial statements annually.
Your company is eligible to prepare unaudited financial statements if you are a Private Limited Company exempt from Audit or a Dormant Company.

An Private Limited Company Exempted from Audit (“EPC Company”) is a private company:
(For FY beginning before 1 Jul 2015)
▶ With no corporate shareholders;
▶ With 20 shareholders or less; and
▶ Whose annual revenue does not exceed $5 million for financial years commencing after 1 June 2004.

(For FY beginning AFTER 1 Jul 2015)
Company meets at least 2 of the following 3 criteria in the last 2 preceding FYs:
▶ <=S$10M Annual Turnover;
▶ <=S$10M Asset Value;
▶ <=50 Employees;

A company is considered dormant if the company do not have any accounting transactions during that financial year.
In most instances, if a company has corporate shareholders, but is dormant for a given financial year, the company will be allowed to submit only unaudited financial statements.
For ContactOne Professional Services Bookkeeping Clients
The unaudited compilation services are already included in our full-fledged accounting package which includes bookkeeping, unaudited financial statements compilation and tax filing services. The compilation fee is already included in the full accounting package at a discounted fee.
For Companies maintaining bookkeeping on their own using an accounting software
Contact us directly via phone at 6333 0633 or email us at enquiries@contactone.com.sg.
Our accountants will go through your accounting records to ensure your bookkeeping are sufficiently done up for the purpose of compiling your unaudited accounts.
We will need you to generate the following documents from your accounting software for us to commence your compilation work:
▶ Balance sheet (or Statement of Financial Position)
▶ Profit and Loss
▶ General Ledger
▶ Fixed Asset Listing
▶ GST Form 5 filings for the year (if you are GST registered)
▶ Any other supporting schedules that may be needed, depending on the nature of your business and accounting methods
For Companies maintaining bookkeeping on their own using excel or any non-accounting software
Contact us directly via phone at 6333 0633 or email us at enquiries@contactone.com.sg.
Our accountants will go through your accounting records to ensure your bookkeeping are sufficiently done up for the purpose of compiling your unaudited accounts.

As you did not use any accounting software to maintain your books, it is necessary for us to review your records in detail, so that we can provide any bookkeeping advice to you to ensure that the compilation of accounts can be completed based on your records. In some instances, additional accounting re-work, to be provided at an additional fee, may be required to make good your records. We will need you to email us your bookkeeping files to review the usability of your files.
Payroll Services
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What does our Monthly Payroll Service include?
Payroll is an essential expense and there are regulations governing staff pay. We are able to assist you areas such as:
▶ Calculation of monthly Employee salary and statutory CPF deductions
▶ Preparing salary disbursement schedule for your staff and to the CPF board
▶ Submission of monthly CPF e-Filing
▶ Preparation of Cheque to staff for monthly salary disbursement

Additionally, we are able to assist in the setting up of your company payroll function to facilitate your subsequent payroll transactions with your employees and the CPF board. Our one-time payroll services include CPF Account Registration, Bank Account GIRO and Preparation of IR8A for staff at year end.
Our Fees – Payroll Services
Monthly payroll service for payroll support covering Fee Guide
Up to 5 staff members $250
Up to 10 staff members $450
Up to 15 staff members $650
Up to 20 staff members $800
From the 21st staff member onwards $35 per staff
Preparation of Cheques to Staff $5 per staff
Cheque Deposit Service on behalf of Staff $50
Monthly GIRO submission $200

One Time Payroll Services Fee Guide
CPF Account Registration $100
Bank Account GIRO setup $250
Preparation of IR8A From $80 per staff
Why Use ContactOne Payroll Service
The payroll function is one of the most sensitive aspect in a multi-staff environment. Often, this responsibility, when not outsourced, lies with the owner-manager, or the HR department. If the scale of your company does not warrant a fully developed Human Resource department now, a good way to solve this issue is to consider our ContactOne Payroll Service plans to free up your time and resources. Typically, our monthly fees do not amount to the cost of an additional headcount for you, and you get the peace of mind that your staff will be paid on time and never risk being late for CPF submissions because you have too much on your plate!
Let Us Advice You!
If you are unsure about whether you need to outsource your payroll function, just give us a call or drop us an email. We will be honest with you and tell you whether if it is actually advantageous for you to keep doing the payroll yourself, let us handle it for you, or encourage you to hire a human resource executive to help you deal with your staff remuneration matters.
Tax Planning
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What is Tax Planning?
Tax planning is a value added service that enables you to explore the possibility of achieving the most efficient tax arrangement for yourself and your Company. For business owners, corporate taxes cannot be considered in isolation, when determining the optimized tax ratio for your business. With ContactOne, you can gain invaluable insights on tax management as we look at the big picture when we provide recommendations for your tax management. One small thing to note, tax planning is an ongoing process. Please avoid attempting to plan for taxes after your financial year has passed.
Do I Need Tax Planning?
To varying extent, everybody income-generating individual needs tax planning. When you are an employee, and only draws a fixed salary every year, you decide whether you wish to contribute more to your provident fund for savings or to save tax, when you have a child, you decide on the allocation of government tax rebates between yourself and your spouse, and when you run a company, you make plans on how best to utilize available deductions and incentive schemes, as well as plan for redistribution of wealth between your company and yourself.

For company owners and directors, tax planning becomes crucial as you need to deal with corporate taxes as well as your personal income taxes. Settling on an appropriate remuneration program that justifiably reward your contribution to the company while keeping an eye on the overall tax impact is one of several ways to ensure tax optimization.
How Can ContactOne Professional Help You?
Attempting to understand and appreciate two different kind of tax systems can be a trying experience for many. Our tax specialists are well positioned to assist entrepreneurs in their tax planning needs. For a start, we will review your company and personal income level and peruse for any gaps in the reallocation of income or failure to take advantage of available incentives. For most of our accounting and tax clients, we often provide valuable tax planning recommendations whenever we see an opportunity in our course of work.

Contact us directly via phone at 6333 0633 or email us at enquiries@contactone.com.sg if you are keen to optimize your tax obligations.
Corporate Tax Submission
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All companies need to submit their tax returns in the relevant Year of Assessment pertaining to the financial year passed. Let us assist you in ensuring that your tax filing are done on time, without missing out on useful deductions available to your company.

Our corporate tax services assist you in the:
▶ Preparation of Tax Computation and tax schedules
▶ Filing of Estimated Chargeable Income 3 months after your Financial Year End
▶ Filing of Corporate Tax Return in Form-C or Form C-S in the relevant Year of Assessment
▶ Liaison with IRAS to answer queries relating to your tax matters
Our Fees – Corporate Tax Services
Tax Filing For Our Bookkeeping Clients For Non-Bookkeeping Clients
Tax Computation and Filing of Form C-S included in package S$375
Tax Computation and Filing of Form C included in package S$590
Note: Form C-S is applicable for a Singapore incorporated company that has annual turnover of $5M or below ($1M for YA2016 and before), derives only income taxable at 17% and is not claiming for carryback of CA/Losses, Group Relief, Investment allowance, R&D Allowance, Foreign Tax Credit and Tax deducted at Source.
Additional fees associated with corporate tax services Additional Fee
For Tax Returns with Capital Allowance, PIC allowance or S14Q R&R claims $100
PIC Cash Payout Submission $150 - $350
Other ad-hoc tax services From $50
For ContactOne Professional Services Bookkeeping Clients
The corporate tax submission services are already included in our full-fledged accounting package which includes bookkeeping, unaudited financial statements compilation and tax filing services. The tax submission fee is already included in the full accounting package at a discounted fee.
For Companies who have completed the accounts on their own or have their accounts done up by other external accountants
Contact us directly via phone at 6333 0633 or email us at enquiries@contactone.com.sg.

Our tax specialists will go through your accounts to ensure your accounts are sufficiently done up for the purpose of corporate tax submission.
We will need you to provide the following documents for us to commence your tax work:
▶ Audited/Unaudited Financial Statements for the financial year to be filed
▶ Detailed Profit and Loss
▶ General Ledger
▶ Fixed Asset Listing
▶ Prior Year Corporate Tax filing computation and filing records
▶ IRAS correspondences (if any)
▶ GST Form 5 filings for the year (if you are GST registered)
▶ Source documents for transactions that took place during the financial year to be filed (to be provided on request only)
▶ Any other supporting schedules that may be needed, depending on the nature of your business and accounting methods
Goods & Services Tax (GST)
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For GST-registered companies, we are able to assist you in submission of quarterly or half-yearly GST Returns. Never fret on missing out on the filings with ContactOne.
Do I need to register for GST?
A company is required to register for GST on a compulsory basis if
▶ Your taxable turnover for the past 4 quarters is more than $1M and you are not certain that your turnover will not exceed $1M in the next 12 months; or
▶ You can reasonably expect your taxable turnover to exceed $1M in the next 12 months.

You will need to apply for GST registration within 30 days from the date that your registration liabilities arise.

A company can still register for GST on a voluntary basis even if the business turnover is below $1M. For such companies, it is wise to perform a cost-benefit analysis on the impact GST registration has on your business and reporting process. You may consider the factors explained in our Resource Guide “Should I Register for GST” before making a decision as once registered, you will need to be registered for a minimum period of 2 years.
Our Fees – GST Services
GST Related Services Fee
GST Voluntary Registration Service S$214
GST Compulsory Registration Service S$321
GST Reporting Service for Non-Bookkeeping Clients S$214 per submission
GST Reporting Service for Bookkeeping Clients included in package
Liaison with IRAS GST Department Free for Bookkeeping Clients
How Can ContactOne Help You?
GST obligations are fixed commitments, typically on a quarterly basis. The time frame afforded for GST preparation is one of the shortest – One Month. If your company do not have any in-house accountant to assist you in your GST filing, you will run a high risk of not meeting the filing requirements on time. Late filings warrants unnecessary penalties and fines which will erode away your hard earned profits. Let ContactOne manage your filings and ensure your compliance is always met in a timely manner. Our accountants are well versed in GST accounting through invaluable experience gained from real accounts, real situations. Contact us directly via phone at 6333 0633 or email us at enquiries@contactone.com.sg to find out more about how we can assist in your GST registration or filing matters.