All you need to know about Tax filing through ACRA in Singapore

Singapore Company Tax filing

 

It doesn’t matter which country you are living or doing business in, it is always a hassle to file annual income tax. Even if the owner of the company is a knowledgeable person in finance, they can’t keep track of every single detail while taking care of productivity. That is why most of the companies in Singapore hire professional accountants to do the job.

A company could either hire an in-house professional accountant or can outsource accounting services from trusted sources. An accountant has all the knowledge and keeps themselves updated with the changing trend. So, when it is about company tax filing Singapore, you need the professionals to stay away from the smallest mistakes.

Singapore is a business-friendly country and has always been on the talks because of its well-thought-out policies. When we are talking about filing tax in Singapore, one cannot forget about ACRA or Accounting and Corporate Regulatory Authority as they have done a lot to make it better and smoother. Over the past few years, the ACRA guidelines have benefited a lot of companies and have encouraged the foreign traders to invest in the country.

If you are doing ACRA filing for the first time, the guidelines might shake your head a little. So, we would suggest you outsource the accounting services and do the needful to avoid any unprecedented situation.

Are there any benefits to hiring the accounting services to file annual taxes?

There are several benefits of outsourcing accounting services to file your annual financial report with ACRA, such as

• The cost of accounting will be reduced by a lot
• You won’t have to go through the hiring process to find worthy accountants
• The outsourcing companies hire the finest accountant and they will be assigned to take care of your account reporting
• The outsourcing companies have been into business for a very long time, so you will get the best advice before taking any decisions
• The outsourced employees have done the same task for several other companies, so you can trust them with fewer to zero mistakes
• After you permit them to handle your tax filing, there is nothing to worry as the responsibility is now on their shoulders
• The outsourcing companies have more services to offer than just tax filing, like payroll processing or bookkeeping, etc
• If you are not satisfied with their job, you can always outsource accountants from other service providers
• The ecosystem of Singapore is too developed that the outsourcing companies can always predict the best decision for your company due to their years of experience

Now as you know all the advantages of outsourcing accountants to file taxes through ACRA regulation, you must look for the best account outsourcing company in Singapore.

No matter if you are a big business house or a small company, every incorporated entity in Singapore must file annual taxes through ACRA guidelines.

The basic requirements are quite simple, which includes

• Company’s name
• Registered address
• The type of business you are running
• The primary source of the business
• Complete details of the company officers

Read also: Outsourcing of the work to the third parties is increasing the efficiency