Accounting & Taxation

We provide monthly and yearly accounting packages, for both non-GST and GST registered companies, based on bank transactions and your business processes. We also advise clients in tax planning and exemptions.

Non-GST Registered Companies (Monthly)

Our packages offer you the various needs of your business. You enjoy the discounts when you pay the upfront annual packages.
STARTER
25 transactions a month

S$100

a month with annual payment
(usual monthly billing at S$125)
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BASIC
50 transactions a month

S$200

a month with annual payment
(usual monthly billing at S$250)
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ADVANCE
100 transactions a month

S$350

a month with annual payment
(usual monthly billing S$480)
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Super
180 transactions a month

S$500

a month with annual payment
(usual monthly billing S$700)
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Wonderful
More than 180 transactions a month
Contact us with a quote
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Non-GST Registered Companies
(Yearly Account Compilation and Taxation)

From S$400

with our accounting packages

From S$600

without any accounting packages

From S$300

for Individual or Company tax planning
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GST Registered Companies (Monthly)

We are experienced in helping customers to GST registration (including both compulsory and voluntary registration) and GST accounting system setup, preparation and implementation. By using XERO, we could run your GST report and perform quarterly GST submission to IRAS. Please contact us for a free consultation and quote.
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Accounting & Taxation Facts and FAQ

Online Accounting that cares and deliver
Grow your Business with smart online accounting with updated financial reports in making business decisions for busy Entrepreneurs.
Frustrated with your Accounting?
Not able to closed your accounts? Slow response and many mistakes. Missed Filing datelines and resulted in fines. Many surprise charges and overloaded paperwork. Outsourced Online Accounting is here to help.
Taxation
To ensure tax efficiency, you need tax planning from day one of your business. Our tax consultants will advise your tax implication according to your financial statement and financial situation to advise on the tax efficiency and exemptions. Our tax professional will help you in tax planning (both Personal and Companies) in an on-going base and annual tax filing with IRAS.
Our Digital Accounting Approach
Going paperless and with centralise Cloud data, busy entrepreneurs can assess into their digital accounting records anytime, anywhere with any devices with internet access. Our prices are transparent and agreeable with clients without any surprise charges. Other government charges and fines will be updated to our clients.

Helping your business
Our Chartered Accountants and Consultants keep tracks the various datelines and advise you on tax exemptions items. We prepare all digital documents for you to e-sign without the hassle of meeting us and save you time and let you focus on growing your business.
XERO Cloud Accounting Software
Xero a cloud based accounting software to help SME’s to connect instantly with the firm’s Financial data, Profit & Loss, Balance Sheet, Cash flow at anytime, anywhere and on any devices. Making business decisions effectively and upscaling your businesses to new heights. Our experience Consultants and Xero Advisors will help you in your needs. Enjoy our PSG Xero packages with 80% grants. (click here to get our Aspire Plan E)
Financial Statements Compilation
Financial Statements compilation is the conversion of data provided by the client that is prepared by an outsource accountant. Unaudited financial statements also known as compilation report is required even though companies are exempted from audit as comply to Singapore FRS : “Under sections 201(2) and 201(5) of the Companies Act (the “Act”), directors are responsible to present and lay before the company, at its annual general meeting, financial statements that:
  • comply with Accounting Standards issued by the Accounting Standards Council; and
  • give a true and fair view of the financial position and performance of the company.”
Bookkeeping Services
Automate your bookkeeping with Xero – Cloud Accounting Solution all in one place such as Xero connects to your bank and with bank feeds, transaction data are feed into Xero on a daily basis. You could reconcile your banking transaction easily and these transactions are digitised and help to increase your efficiency and productivity with less mistakes. Store your documents online and you could capture bills and receipts via email or scan from your mobile. You now are able to view real time financial data and cash flow from Xero dashboard and it helps to facilitate business owners to make business decisions effectively.
Consolidated accounts
SMEs need to understand the importance of consolidated financial statements in order to present these financial results for stakeholders or investors. Financial reports represent the health and performance of the company and it is required under the Singapore Financial Reporting Standards.
Tax Services in Singapore
A professional tax consultant is needed to plan for your personal and company taxation matters. There are many tax benefits from the government and our team will advise you on various aspects of taxes including tax breaks and tax deductions. We let you focus on growing your business while you save time and cost to engage our team to manage your taxation.
Personal Income Tax
Personal income tax in Singapore are progressive and ranges from zero to a maximum of 22% on the different chargeable income. The first $20,000 will enjoy zero tax will 22% will be charge above $320,000.
Good & Services Tax (GST)
Good & Services Tax (GST) relate to Singapore companies, with the introduction in 1994, GST is a mean to lower personal and corporate tax rates. GST is a indirect tax on expenditures and with the current rate of 7%.

GST tax is normally charged to the end consumer and therefore GST normally does not become a cost to the company. Company are merely acting as collecting agents on behalf of Singapore tax department.
GST Registration
There are two categories of GST registration: compulsory registration or voluntary registration.
Compulsory GST registration
  • Your annual turnover is more than $1 Million in the last 12 months
  • Your current sales is expected to exceed the annual turnover of $1 million in the coming months
Voluntary GST registration
  • Voluntary GST registration is not liable to compulsory registration and it depends on your business operations.
  • When you are registered with GST, your company needs to maintain the registration for at least a 2 years period and comply to the GST regulations, filing of GST return on a quarterly basis
  • To keep your records for a 5-year period even after your business has ceased or deregistration from GST.
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What data format shall we submit?
Send us and drop your files in whatever format in google drive, dropbox or email us.
What is transaction?
Transaction is reflected in your bank statements, either deposit, withdrawals, salary, expenses and other kind of transactions except bank fees and charges.
What are my tax filing schedule?
All firms need to submit two annual corporate income tax returns with ECI – Estimate Chargeable Income within three months of financial year end and Corporate Income Tax Return (Form C/CS) within the 12 months financial assessment via e-filing for ACRA and IRAS.
What Online Accounting Software we use?
We used XERO – Cloud Accounting Software that help SME’s to connect instantly with the firm’s Financial data, Profit & Loss, Balance Sheet, Cash flow at anytime, anywhere and on any devices.
Using XBRL?
XBRL is an international standard digital business reporting which is much useful and effective. The Singapore Government agencies will be adopting this format in time to come.
How incomes tax is being assess?
A tax return of year assessment (YA) 2020 would be the taxable income earned in year 2019 (Jan to Dec 2019).
Clooud Consulting LLP
Corporate Aspire Pte. Ltd.
Aspire Consulting Pte. Ltd. 
105 Cecil Street, The Octagon, #22-25 Singapore 069534
© 2020 Clooud Consulting LLP. All rights Reserved.
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