Accounting &

Tax Services

Our cloud-based accounting services provide you peace of mind at highly affordable rates. Outsource your Accounting, Book-keeping and Tax Filing to FidCorp today. 

Accounting

Our Accounting services include the following:

  • Full Set of Accounts: Income Statement, Balance Sheet & General Ledger

  • Book-keeping

  • Quarterly review by Accountant

  • Xero subscription

  • Unaudited Financial Statements

  • Add-on Multi-Currency Accounting at $25 per month

 $50

per month (annual billing)

Start-Up

Accounting

  • 10 transactions a month

  • 20 receipts a month

$60 a month if billed monthly

 

 $100

per month (annual billing)

Basic Accounting

  •  20 transactions a month

  • 40 receipts a month

$120 a month if billed monthly

 

 $200

per month (annual billing)

Standard Accounting

  • 40 transactions a month

  • 80 receipts a month

$240 a month if billed monthly

 

 $350

per month (annual billing)

Premium  Accounting

  • 80 transactions a month

  • 160 receipts a month

$420 a month if billed monthly

 

 $500

per month (annual billing)

Platinum  Accounting

  • 160 transactions a month

  • 320 receipts a month

$600 a month if billed monthly

 

 $600

One-time upfront fee

Annual Accounting & Tax  

  • One-time service, great for small businesses

  • Single review by Chartered Accountant

  • Under 60 transactions a year

  • Estimated Chargeable Income

  • Forms C/C-S

 

Need more?

​We can design a solution that fits your needs based on number of transactions and receipts if you require something customised for your business. 

Talk to us today for an obligation-free discussion.

 

 
 

Book-keeping

FidCorp's simple and straightforward Book-keeping services come as they are with no extra charges. All plans include:

  • Daily Book-keeping on Xero

  • Books done perfectly and ready for your accountant

  • Online support available

  • Add on multicurrency Book-keeping available at $25 per month

 $100

per month (annual billing)

Bronze

  • 40 transactions a month

$120 a month if billed monthly

 

 $200

per month (annual billing)

Silver

  • 80 transactions a month

$240 a month if billed monthly

 

 $350

per month (annual billing)

Gold

  • 160 transactions a month

$420 a month if billed monthly

 

Customised

Talk to us today for a solution that is tailor-made for your business.

 

 

Taxation & Administration

Want to benefit from Singapore’s business friendly taxation policies but unfamiliar with the complex regulatory requirements?

 

We got you covered. Our integrated range of tax services will handle and minimise your tax obligations in accordance with the statutory regulations laid down by IRAS.

GST Application

GST Preparation + Submission (Quarterly)

Tax Filing

$250 

$250

Fr $500

  • Estimated Chargeable Income (ECI) Computation & Filing

  • Preparation of Form C/C-S

 

All Singapore business entities are required to register for Singapore Corporate Access (CorpPass) – a digital identity for businesses, in order to transact within the Government portals and to manage the corporate data securely and conveniently. Our team of dedicated professionals are driven to provide value creation to our clients in their first step of setting up their businesses.

Our range of administrative services:

  • Corp pass registration

  • Bank account opening

  • MOM registration

Q & A

Accounting & Book-Keeping

How does your pricing work?


Our packages are priced based on your company size; you pay according to the number of transactions you have each month. You have the flexibility to switch the package should you wish to scale your business.




What is transaction?


A transaction is a deposit or a withdrawal from your bank account. Examples include payroll, rent expenses and selling goods to a customer. FidCorp's accounting servies are based on the number of transactions carried out by your business.




What is XBRL?


XBRL stands for eXtensible Business Reporting Language. It is a form of reporting language adopted by ACRA. Companies that are required to report their financial statement to ACRA are required to submit in XBRL format.




Is there anything I need to do?


You need to send us your receipts and invoices in any format you have them, through scans or pictures on your phone. Subsequently, we will furnish your accounting reports through a timely and cost-effective accounts system management.




Is my accountant going to work alongside with you?


We would love to work with your accountants. On our part, it is our job to record transactions, collect all the corresponding documents and reconcile the balances.

Your accountant takes it from there. To compute tax forecasts, or devise tax optimization ideas; in which, you may also engage us for these taxation services. We will help to monitor your financial liabilities and administrative tasks, while you focus on your business operations.





Taxation & Administration

When must I register for GST?


You must register for GST when you can reasonably expect your taxable turnover to be more than S$1million in the next 12 months, or your taxable turnover at the end of any calendar year is more than S$1million.




What are the penalties for late registration?


According to Inland Revenue Authority of Singapore (IRAS), you could face a fine of up to $10,000 and a penalty equal to 10% of the GST due. Your date of registration will be backdated to the date you are liable for registration, and you will have to account for and pay GST on your past sales, even if you did not collect any GST from your customers.




What are the common filing mistakes by corporate tax payers?


1. All earnings and invoices issued for goods sold or services performed should be properly accounted. Understatement of income is an offence, e.g. omission of invoices issued or receipts. 2. Inadequate or dishonest record-keeping and accounting practices that result in understated sales or overstated expenses in their tax returns. 3. Claiming deductions for non-deductible expenses such as private expenses on entertainment and private motor vehicles expenses.




What are a company's tax filing requirements?


All companies must file Estimated Chargeable Income (ECI) within three months from end of their financial year except for companies that qualify for the administrative concession and those that are specifically not required to file. Corporate Income Tax Return (Form C/C-S) is to be filed by 30th November, or by 15th December via e-filing. Exceptions apply only if qualifying conditions are met and the company has been granted Waiver of Income Tax Return Submission by IRAS.




What is the difference between 'tax exempt' and 'zero-rated supplies'?


A zero-rating supply refers to goods or services being taxed at 0% GST for the transaction. A GST registered trader is able to claim Input Tax Credits on zero-rated supplies. Such transactions are applicable to “exports” of goods and “international” services. Tax exempt supplies are not subjected to GST, and the registered trader cannot claim tax credits on this.





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FidCorp

© 2020 by FidCorp Services Pte Ltd, a subsidiary of Fidelium Group | 400 Orchard Road #11-08 Singapore 238875 | +65 6365 3066 | fidcorp@fideliumgroup.com

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