Dear Expert,
We incorporated a company during Mar 2011 and plan to close it Feb 2012. We will be realizing a profit. Since the number of transactions are very small given that we are a high net solution implementation company with 2 employees, please suggest if it is a good idea to perform the following activities ourself:
1. Filing ECI, Form C and other Financial Statements.
2. Directors Report
Since most corporate tax companies are charging a big sum including the so-called SME firms, please advise if low cost tax agents are recommended and their fees for the same.
Rgds,
Vijsrinp
SINGAPORE EXPATS FORUM
Singapore Expat Forum and Message Board for Expats in Singapore & Expatriates Relocating to Singapore
Singapore Annual Taxation & Reporting
It depends.
I do know one owner who handle everything by himself; but majority of business owners delegate these tasks to professionals in the area. The charges vary over a wide range, like food prices in Singapore.
- shameenali
- Regular
- Posts: 71
- Joined: Tue, 23 Feb 2010 4:04 pm
Hi Vijsrinp,
If your looking to submit returns by yourself these are the dates that you will have to abide by:
ECI - 3 months from year end. In your case May 2012
Form C - Deadline is Nov 2012 (suggest you dont break your head over it currently)
Annual Return Submission - 6 months from financial year end. Aug 2012 should be your deadline. Do note that if your turnover exceeds SGD$5Million you will be required by statute to carry out an audit of your financial statements. If not a simple compilation should suffice.
Most of the tax companies do charge separately for ECI submission & Tax submission but am aware of some that dont. PM me & I can pass you the details. Tax submission your looking at $400 - upwards depending on the complexity of work carried out.
AR submission is around $150.
Hope this was useful.
Cheers!
If your looking to submit returns by yourself these are the dates that you will have to abide by:
ECI - 3 months from year end. In your case May 2012
Form C - Deadline is Nov 2012 (suggest you dont break your head over it currently)
Annual Return Submission - 6 months from financial year end. Aug 2012 should be your deadline. Do note that if your turnover exceeds SGD$5Million you will be required by statute to carry out an audit of your financial statements. If not a simple compilation should suffice.
Most of the tax companies do charge separately for ECI submission & Tax submission but am aware of some that dont. PM me & I can pass you the details. Tax submission your looking at $400 - upwards depending on the complexity of work carried out.
AR submission is around $150.
Hope this was useful.
Cheers!
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