Copyright © 2019 Ottavia Solutions Pte. Ltd. All Rights Reserved.

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Analysing the Data

Accounting & Tax

Ottavia provides a comprehensive range of tax and accounting services. The services include:

Bookkeeping and financial statements​

  • Data entry

  • Bank statement reconciliation

  • Accounts receivable/payable reconciliation

  • Accounting report and financial statement preparation

  • Preparation of group financial statements

  • Consolidation accounting

  • XBRL statement preparation and filing


Tax planning and filing returns

  • Providing advice on a tax optimization strategy and how to implement it

  • Planning and filing corporate and personal taxes

  • Developing a tax efficient employee remuneration strategy

  • Developing a tax optimised business exit strategy


Payroll

  • Calculation of employee salary and statutory deductions

  • Payment arrangements to both employees and authorities

  • Reimbursement for company expenses

  • Calculation of employee benefits

  • Final payments for terminated employees

  • Statutory tax forms for employees

  • Personal Tax return preparation

  • Tax clearance for foreign employees


Goods & Services Tax (GST) filing

  • Providing a detailed explanation of how the GST works

  • Advise companies on the various advantages and disadvantages of GST registration

  • Complete the various GST registration formalities

  • Preparation and filing of returns on a quarterly basis

Frequently Asked Questions

Is there a fixed Financial Year End (FYE) Date in Singapore?

No. Usually the FYE date is within 12 months from the Incorporation date. If you have a corporate shareholder, we recommend you use the same FYE date as that of the shareholder company.

Can I manage my Bookkeeping remotely?

Yes, you can. 

How long should I keep my supporting documents?

As per Singapore Law, you are required to keep company records for a minimum period of 5 years.

Do I need to register GST?

GST registration is mandatory if the company's Annual Revenue is more than S$1 million. 

Is there any Accounting Software that complies with the Singapore Accounting Standard?

Yes, you may explore Quickbooks or Xero Accounting Software.

Is my Singapore company required to do an annual financial audit?

If the company is able to meet the Small Company Criteria, an annual audit is not required. 

Do I need to keep my monthly Bank Statements?

Yes, you are required to keep the monthly Bank statements in order to reconcile with the supporting documents.

When do I need to file for my Company's Corporate Tax?

Estimated Chargeable Income (ECI), needs to be filed within 3 months from FYE Date; Corporate Tax Returns are filed on 30 November.