Tax & Accounting

All companies must submit annual tax returns to the Inland Revenue Authority of Singapore (IRAS). Profits for the financial year ending in the preceding year will form the basis for filing the tax return in the current year.

A business or company, regardless of locality, is generally taxed on its income accruing in or derived from Singapore or income received in Singapore. Without proper tax planning, you could be paying more tax.

In Singapore, there are multiple tax brackets and categorisations. Some examples include company, partnership, sole proprietor and individual tax services.

As each of them have their own individual requirements, it could be catastrophic to mix them up. This may lead to mix-ups, delays and bureaucracy and other pressing issues.

MAL Management provides the proficiency and you are assured to have the proper procedures done with our assistance. We help you plan out your tax structure in the most efficient and logical manner to minimise your tax obligations.

Our services include:

Corporate Tax

• Tax Planning
• Tax Computation
• Filling Estimated Chargeable Income
• Filling Form C, C-S or B/B1
• Submission to IRAS and Liaise with IRAS on Instalments Plan

Individual Tax

• Personal Income Tax Planning, Computation & Returns

Tax Audit

• Assist in tax audit etc.

GST

Filing your GST is absolutely fuss free with us. It is compulsory for a business to register for GST if its annual turnover is expected to exceed or has already exceeded S$1 million from the sales of taxable goods and services.

However, a business with a turnover of less than S$1 million may register for GST voluntarily, subject to the approval of the Comptroller’s discretion. If a business has chosen to volunteer, they must remain registered for a minimum of 2 years and comply with the regulatory requirements.

Our GST scope includes:

• Registration and De-registration
• Accounting for GST
• Preparation of GST Report
• Filing and compliance
• Advice and planning
• Audit
• Coordination and Documents submission

Accounting

The speed of doing business is unlike before, more so in the internet age.

Making decisions based on outdated or unmaintained records is clearly ill advised. Swift, punctual and accurate financial analysis are crucial to the well-being of every company.

With a focused approach, MAL helps you gain a competitive edge by helping you manage your accounts and bookkeeping and doing away with menial administrative tasks. This will free you to focus on growing your business and attending to high level decision making.

Our accounting services include:

• Set up proper filing system
• Perform bank reconciliation
• Preparation of management reports
• Drafting Directors’ Report & Financial Statements
• Provide routine and non-routine financial reports
• Highlights on key variances and performance indicators

With our competitive pricing, it makes great sense for MAL to free you off your hassles and fully focus on growing your business.

Contact us to find out more.