MMonthly / Ongoing
GST return filing (monthly option for registered businesses with turnover > SGD 1M)
One annual tax deadline. Clear ACRA requirements. Predictable costs. Singapore accounting is straightforward when you have the right support.
Singapore companies face multiple critical deadlines across ACRA and IRAS systems, each with financial penalties. XBRL filing rejections spike near deadlines, while ECI and annual return delays cost thousands. This guide provides verified compliance calendars and real provider pricing to protect your business.
Navigate Singapore accounting requirements with confidence using verified compliance calendars and real provider pricing
Singapore's accounting framework operates under ACRA's regulatory oversight and ISCA's professional standards, requiring businesses to comply with SFRS (Singapore Financial Reporting Standards). The system encompasses multiple service categories, from basic bookkeeping to comprehensive CFO-level support, each designed to meet different business sizes and compliance requirements.
Transaction recording, bank reconciliation, and basic financial statements preparation. Suitable for small businesses with straightforward operations, minimal transactions, and simple compliance requirements.
Financial analysis, budgeting, cash flow forecasting, and performance reporting. Designed for growing businesses requiring strategic financial insights beyond basic compliance.
ACRA annual return preparation, XBRL filing, IRAS tax submissions, and full regulatory compliance management. Essential service required for all Singapore companies.
Board resolutions, statutory register maintenance, ACRA notifications, and corporate governance support. Often bundled with comprehensive accounting packages.
Singapore's regulatory environment demands precision and timeliness across multiple government agencies. The consequences of non-compliance extend beyond financial penalties to include director disqualification, business disruption, and reputational damage that can permanently impact your operations. 👌 Good News: Most Singapore SMEs have simple compliance (when you have the right partner)
Every Singapore company must file annual returns with ACRA within 7 months of financial year-end, including XBRL-formatted financial statements. Failure results in SGD 300-600 penalties and potential strike-off.
Corporate tax returns must be e-filed by 30 November. ECI must be submitted within 3 months of year-end. Late submissions incur 5% surcharge plus 1% monthly (capped at 12%).
Financial statements must be filed in XBRL format through ACRA BizFinx portal. This technical requirement involves specific tagging and validation processes requiring professional expertise.
Late ACRA filing: SGD 300-600. Late IRAS tax: 5% + 1%/month. Improper records: up to SGD 5,000 fine. Directors may face personal liability only in cases of repeated or prolonged non-compliance. For compliant businesses using professional support, such outcomes are rare.
Singapore's accounting framework operates under ACRA's regulatory oversight and ISCA's professional standards, requiring businesses to comply with SFRS (Singapore Financial Reporting Standards). The system encompasses multiple service categories, from basic bookkeeping to comprehensive CFO-level support, each designed to meet different business sizes and compliance requirements.
Transaction recording, bank reconciliation, and basic financial statements preparation. Suitable for small businesses with straightforward operations, minimal transactions, and simple compliance requirements.
Financial analysis, budgeting, cash flow forecasting, and performance reporting. Designed for growing businesses requiring strategic financial insights beyond basic compliance.
ACRA annual return preparation, XBRL filing, IRAS tax submissions, and full regulatory compliance management. Essential service required for all Singapore companies.
Board resolutions, statutory register maintenance, ACRA notifications, and corporate governance support. Often bundled with comprehensive accounting packages.
Complete ACRA and IRAS compliance framework for business owners
GST return filing (monthly option for registered businesses with turnover > SGD 1M)
GST return filing (quarterly option for smaller registered businesses)
File ECI (Estimated Chargeable Income) within 3 months of financial year end
What's included: Transaction recording, bank reconciliation, basic P&L and balance sheet, monthly financial summary reports
Best for: Startups and sole proprietors with simple operations and minimal regulatory requirements
Limitations: No tax planning, ACRA filing, or IRAS submissions. Client handles all regulatory compliance independently
Advantages: Cost-effective foundation for financial record-keeping with professional accuracy
What's included: Full bookkeeping, ACRA annual return preparation, IRAS tax return filing, XBRL submission, basic tax planning
Best for: Small to medium businesses seeking complete regulatory compliance with professional oversight
Limitations: Limited strategic advisory services and complex tax structuring. Additional fees for audit coordination
Advantages: Complete compliance coverage with predictable monthly costs and regulatory deadline management
What's included: All standard services plus management reporting, budgeting, cash flow forecasting, tax optimization, and strategic advisory
Best for: Growing businesses requiring financial insights and strategic guidance beyond basic compliance
Limitations: May not include specialized industry expertise or complex corporate restructuring
Advantages: Comprehensive financial support with strategic insights to drive business growth and optimization
What's included: All services plus dedicated CFO support, board reporting, investor relations, due diligence support, and complex tax structuring
Best for: Established companies and subsidiaries requiring C-level financial expertise and sophisticated reporting
Limitations: Higher cost structure may not be justified for smaller operations
Advantages: C-suite level financial expertise with comprehensive business support and strategic planning
Pricing varies significantly based on business complexity, transaction volume, and regulatory requirements. These ranges reflect 2026 market rates from established Singapore accounting firms.
< SGD 200,000 annual revenue
SGD 200-500/month
Recommended providers: Small local firms, freelance bookkeepers, online platforms
SGD 200,000 - 2,000,000 annual revenue
SGD 500-1,500/month
Recommended providers: Mid-size accounting firms, established practices with ACRA/ISCA credentials
SGD 2,000,000+ annual revenue
SGD 1,500-5,000/month
Recommended providers: Big 4 firms, established accounting practices, specialized business advisory firms
Selecting an accounting provider requires evaluating multiple factors beyond cost. The right choice depends on your business size, industry requirements, and growth plans.
Your business size and operational complexity determine the level of service required and appropriate provider type.
Certain industries have specific accounting requirements that benefit from specialized expertise.
Modern accounting relies heavily on cloud-based software and integration capabilities. ACRA data shows firms using technology have 2.3x better audit outcomes.
Response time and service accessibility become critical during compliance deadlines and business decision-making periods.
Be cautious if you encounter any of these warning signs when evaluating providers:
Avoid these frequent pitfalls that can result in penalties and regulatory scrutiny
Companies must file Estimated Chargeable Income within 3 months of financial year end. IRAS may issue estimated assessment if missed, requiring payment within 1 month.
Prevention: Engage accounting provider with guaranteed filing service levels and deadline tracking
Using the incorrect XBRL template (Full vs Simplified) results in system rejection and filing delays, especially close to deadlines.
Prevention: Work with providers experienced in XBRL filing who can validate submissions before final upload
Since the GST rate increased to 9% on 1 January 2024, businesses must account for the correct rate regardless of what was charged to customers.
Prevention: Conduct quarterly GST reconciliation to identify and correct any rate application errors
Claiming small company audit exemption without meeting the criteria for 2 consecutive financial years results in Companies Act violations and potential prosecution.
Prevention: Reassess audit exemption status at each financial year end with your accountant
ACRA annual returns must be filed within 7 months of financial year end. Late filing incurs SGD 300 penalty (within 3 months) or SGD 600 (over 3 months), plus risk of director disqualification.
Prevention: Coordinate with company secretary and accountant to align AGM and filing schedules
Official data from ACRA AE Survey 2025 and Audit Quality Indicators Report
📊 Data Transparency: All statistics are sourced from publicly available industry reports, government data, and verified market research. Sources are cited for verification.
Common questions about accounting and bookkeeping services in Singapore.