Professional Accounting Services Singapore

22/01/2024

Low Han Siang, the sole proprietor of car importer M’ Exclusive, will serve 60 months' jail in default if he does not pay the fine.

29/03/2023

Here’s a piece of good news for small business owners! 😀 If your annual revenue is $200,000 or less for the past 2 financial years and your business qualifies for Simplified Record Keeping, you will only need to keep business records (e.g. registers, listings) and not source documents (e.g. invoices and receipts).

☑️ Remember that you must keep all business records and accounts for 5 years. For more tips on record keeping and sample template of business records to maintain, visit https://go.gov.sg/iras-srk

29/03/2023

👩‍❤️‍👨👨‍👩‍👦 Married couples and parents, learn about the tax reliefs and deductions available to you in this comprehensive guide. Claim the reliefs that you are eligible for and lower your tax bill this tax season!

More info at https://www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax/tax-reliefs-rebates-and-deductions/tax-savings-for-married-couples-and-families

File your taxes at myTax Portal by 18 Apr: https://mytax.iras.gov.sg/

29/03/2023

Looking to claim tax reliefs this year? Follow these quick tips on claiming tax reliefs and avoid making wrongful claims!

20/01/2023

T-VISTA wishes all our clients a prosperous Lunar New Year!
May the year of the Rabbit bring you lots of success, good health and possibilities!
🧧🍊🧧🍊🧧🍊🧧🍊🧧🍊🧧🍊🧧🍊🧧🍊

07/12/2022

From 1 Jan 2023, you will need to pay GST on purchases of imported low-value goods (i.e. goods ≤ $400 imported via air/post after being purchased) and non-digital services (e.g. online classes, fitness training over video platforms, professional services and telemedicine) from GST-registered suppliers.

This change will level the playing field for local businesses competing with overseas suppliers, and keep Singapore’s GST system fair, effective and relevant as the e-commerce economy continues to grow.

More info at https://www.iras.gov.sg/taxes/goods-services-tax-(gst)/gst-and-digital-economy

07/12/2022

28/11/2022

One more week till the end of Corporate Income Tax Filing Season 2022! File your YA 2022 Corporate Income Tax Return (Form C-S/ Form C-S (Lite)/ Form C) on time at mytax.iras.gov.sg to avoid late filing penalties.

15/11/2022

Less than a month to the deadline of 30 November 2022.
Ensure that you or your staff has been assigned with the “Approver” role for “Corporate Tax (Filing and Applications)” digital service in Corppass before filing the Form C-S/ Form C-S (Lite)/ Form C at mytax.iras.gov.sg.

Avoid late filing penalties by filing your Corporate Income Tax Return (Form C-S/ Form C-S (Lite)/ Form C) on time.

15/11/2022

Dormant companies are those that did not carry on business and had no income for the whole of the basis period. A dormant company is still required to file the Form C-S/ Form C-S (Lite)/ Form C, unless it has been granted a waiver to file the return.

Find out more about dormant companies and applying for a waiver at go.gov.sg/irasdormantcompanies.