The increase in Singapore’s Goods and Services Tax by 1% from 7% to 8% implemented on 1st January 2023 has also acted as a slight drag on economic growth in 2023, raising fiscal revenue by an estimated 0.7% of GDP per year. Exports of electronics products to mainland China remained very weak in September, declining by 13.0% year over year. Singapore’s electronics exports to South Korea fell sharply, by 20.2% year-over-year. Electronics exports to the US contracted marginally, falling by 2.9% year-over-year in September. Electronics exports to the EU showed a strong upturn, with positive growth of 30.8% year over year.
- Our experience in accountancy and financial management will ensure that choosing our company as your adviser opens a wide range of solutions for our clients.
- In Budget 2023, the Finance Minister stated that a key issue for the Singapore economy over the medium to long term will be from demographic ageing, with Singapore having one of the world’s fasted ageing populations.
- They strive to provide excellent services in the fields of accounting, corporate secretarial services, as well as tax and business consulting, with roughly 10 years of expertise.
- As a Corporate Service Provider, 3E Accounting specialises in business formation and company incorporation in Singapore.
We take pride in our service and embrace in building long-term relationships with our clients to become trusted business advisors. RSM International is a renowned accounting and auditing firm with 820 offices in 120+ countries and a team of professionals. The company is considered a leader in the Middle East, Europe, America, Asia Pacific, and even Africa. The company entered Singapore about 129 years ago and is counted among the top audit firms in the country.
At Baker Tilly, we make it easier for you to understand what you need to know, and what you need to do, to complete an IPO. We simplify the process, take you through it and prepare you for life as a public company. We are voted among the Top 10 Most Desired Employers for Accountancy and Financial Management in Singapore, according to a survey of 11,596 local students and graduates by gradsingapore in 2023.
Acclime Singapore
They have formed partnerships with audit companies so that they can provide you the most complete business solutions to assist you accomplish your objectives. Keeping track of financial and operational health is crucial for any organisation, small or large. The ability to interpret and analyse your company’s financial results is made possible by maintaining accurate records of your company’s profit and loss statement and balance sheet. Your business objectives can then be set according to the gathered information, and you will be able to make intelligent decisions for your company’s future. Our vision is to be an essential partner in your business’s success, allowing your company to maximise opportunities and stay competitive by enabling you to focus on strategic operations and issues. We help you achieve such success by managing your accounting and administrative procedures.
Baker Tilly is committed to providing both businesses and individuals with sound, timely and practical advice, whether they are setting up businesses, conducting cross-border transactions, structuring investments or going public. However, an important long-term challenge for the Singapore economy will be from ageing demographics. In Budget 2023, the Finance Minister stated that a key issue for the Singapore economy over the medium to long term will be from demographic ageing, with Singapore having one of the world’s fasted ageing populations. The proportion of Singapore’s population that is currently aged over 65 years is one-sixth of the population, but this will rise to an estimated one-quarter by 2030. This will result in rising healthcare and social welfare costs and could gradually reduce Singapore’s long-term potential GDP growth rate. The role of fiscal policy in addressing demographic ageing will continue to be a key focus for government policy over coming years as the economic impact of demographic ageing intensifies.
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Our professional accounting team removes the labour-intensive duties from your staff, while ensuring compliance and accuracy across all transactions. Consolidating your group accounts can save your finance team valuable time and money. Understanding how to consolidate financial statements is especially important if you are a business that operates its subsidiary companies across various regions or countries. This is because it allows your team to accurately represent financial results for investors and Accounting and Corporate Regulatory Authority (ACRA) filing purposes. This allows your team to accurately represent financial results for investors and for Accounting and Corporate Regulatory Authority (ACRA) filing purposes. BoardRoom’s team of certified chartered accountants and finance professionals in Singapore has the skills and expertise to ensure your accounting is accurate, efficient and compliant with local laws and regulations.
Accounting and Bookkeeping Services price guide
If you are concerned about the accounting strategy of your new venture, selecting Win Global Solution will never be a regret. Besides offering specific accounting solutions such as record keeping, tax consultancy, and others, they provide personalized solutions. Customer services are another strength of Win Global Solutions as they put clients’ requirements at the center of their activities.
KPMG Personalization
In 2010, Corporate Services Singapore entered the accountancy and finance business for the first time. If you’re looking for a reputable accounting business in Singapore to outsource your accounting tasks to, look no further than Intime. They understand their clients’ financial accounting demands and the necessity of keeping correct records. They will make certain that their accounting services for small businesses in Singapore are precise and timely. U Ventures was formed in 2010 by a group of young professionals with a passion for entrepreneurship. They strive to provide excellent services in the fields of accounting, corporate secretarial services, as well as tax and business consulting, with roughly 10 years of expertise.
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Any organisation operating in Singapore and this region faces regulatory and reporting requirements, which vary from country to country. Meeting these obligations can impose a heavy administrative burden and be compounded if operating across regional borders. Baker Tilly helps organisations navigate the complexities of the healthcare and life sciences industry with ease.
This is where our accountant in Singapore can help with monthly quarterly and annual updates. Moreover, we will make sure to record every document which can be used to show the need to register for GST. We remind business owners that among the documents to be used as evidence in GST registration are contracts and agreements, purchase orders, invoices, and income statements. Statutory audits, management consulting services, tax advice, share values, liquidations, company takeovers, and investigations are all part of the job. The firms in our clientele base range in size from two to fifty people, with sales turnover ranging from a few thousand dollars to over 700 million dollars.
AG Singapore offers a full suite of accounting services and corporate advisory solutions to clients from various sectors such as logistics, construction and engineering, printing, oil and gas, and others. Combined, the 30 largest firms now have over 18,000 employees, up from 16,400 the year previous. Baker Tilly International is ranked among the top 10 largest accounting and business advisory networks worldwide. The network of independent firms was established in 1914 and currently has 706 offices in 148 countries worldwide and a workforce of more than 39,000 professionals.
It was established in 1985 and currently has a workforce of over 1000 professionals. PwC Singapore is a leading accounting and professional services firm, with a strong presence in the country. As a part of the global PwC network, it provides a wide range of services to help you transform and become more agile and future-ready.
It also puts all your accounting needs in the hands of well-equipped and highly-experienced professionals, allowing tasks to get done quickly and accurately, alleviating stress and additional work from your staff. Outsourcing also saves valuable resources, saving the effort required to train in-house staff book balance who need to handle day-to-day accounting issues. This improves the overall efficiency of your business, boosting productivity across the board. If you need further information on the accounting services we provide, please contact our accounting firm in Singapore for more details on this subject.