A tax compliance firm is a professionally managed and technically competent body that can provide a wide array of services in the arena of tax compliance and planning. A corporate tax services Singapore firm is ideally a group of qualified chartered accountants that have recognition in law and vast experience in the field of accountancy that predominantly enables them to cater to the growing needs of accounts and the financial reporting environment. These firms also include one of the best audit firms in Singapore. In light of their license, recognition and authority, they provide the following services related to accounts and audit:

  • Finalization of Accounts, Tax Audit and Financial Reporting Services – A tax compliance firm has core expertise in accounts finalization, reviewing accounts and in performing tax audit for any large or small client. Actually, the said work requires adherence to various technical and statutory standards, and hence books of accounts must be made in accordance with such technical standards. In fact, the accounts must comply with all the applicable rules, legal and statutory pronouncements. Accordingly, a well-suited tax compliance firm can only cater to the requirement of accounts finalization, preparation of accounts as per accounting framework and discharging the tax audit function.
  • Tax return filing services – The most striking feature of a tax, accounting and compliance firm is filing different tax returns periodically. Businesses do not have enough expertise to prepare tax returns and furnish the same to different departments periodically. Hence to expedite the process of tax returns, businesses get the tax filing work done from tax compliance firms. Ideally, there are several types of returns that are generally filed by tax compliance firms. Such tax returns may include TDS returns, Income tax return, Excise Return, VAT or GST return. The tax compliance firms allocate human resources to get this return work done on time.
  • Tax advisory and planning – This is yet another kind of service that a tax compliance firm provides. Tax advisory and planning includes planning and advising companies or large corporations on the back of vast valuable insights tax compliance firms have which they use to help companies allocate and channelize their resources. These firms help businesses grow and avail different exemptions and tax holidays. Evidently, the tax advisory aspect is perhaps the most important aspect for which businesses are always ready to shell out millions in order to effectively take new business projects forward.
  • Audit and Assurance Services – The business which is conducted and in which way it is conducted is not known to the external users of financial information. However, the financial information of the business is required by various stakeholders, namely, the government for tax assessment purposes, the shareholders for making themselves aware of dividend collection and businesses’ operating results. So to provide a great degree of reliability on the financial information, the tax compliance firms provide audit and assurance services by expressing an opinion on the accounts, financial statements and overall picture of business affairs. There are several best audit firms in Singapore that provide credible audit services on the back of their significant experience in the said field.

 

So we see that corporate tax service Singapore is an indispensable part of the entire offing of all tax compliance firms based in Singapore. It is observed that a wide spectrum of services is provided by tax compliance firms that provide a greater degree of assurance to a large number and types of users that require such information for several decision-making purposes.

 

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