Accounting
Accurate accounting is essential for every business, ensuring compliance with financial regulations, transparency in reporting, and enabling informed decision-making.
What We Offer
Bookkeeping
Bookkeeping ensures the systematic recording of a company’s financial transactions, forming the foundation for accurate accounting and compliance. Proper bookkeeping is critical for maintaining financial integrity, enabling seamless audits, and ensuring timely tax filings. In both Singapore and Malaysia, staying compliant with local bookkeeping practices is essential for business sustainability.
Accounting
Accurate accounting is essential for every business, ensuring compliance with financial regulations, transparency in reporting, and enabling informed decision-making. It provides insights into financial performance and stability, helping businesses plan for growth and manage risks effectively. In Singapore and Malaysia, adherence to local accounting standards is crucial for maintaining trust and credibility.
Xero Subscription
Cloud-based accounting platforms like Xero have revolutionized how businesses manage their finances. Xero simplifies financial tracking, offers real-time insights, and enhances collaboration across teams. It is a critical tool for businesses aiming to digitalize their accounting processes in Singapore and Malaysia.
Corporate Tax Filing
Corporate tax filing is a critical annual requirement for businesses, with filings typically due in November for Singapore companies. Profectant’s strong working relationship with IRAS (Inland Revenue Authority of Singapore) ensures a seamless and efficient tax filing process.
Goods & Service Tax (GST)
Goods and Services Tax (GST) compliance is a key requirement for businesses in Singapore and Malaysia. In Singapore, GST registration is mandatory for companies with an annual taxable revenue exceeding SGD 1 million. Profectant provides expert advice to help companies navigate these requirements effectively.
Personal Income Tax
Personal income tax filing is a mandatory requirement for individuals earning taxable income in Singapore and Malaysia. In Singapore, the personal income tax filing season typically occurs from March to April, with tax rates based on progressive brackets. Ensuring accurate filings helps avoid penalties and optimizes tax savings.
Property Tax
Property tax is a recurring obligation for property owners in Singapore and Malaysia. In Singapore, property tax is calculated annually based on the Annual Value (AV) of the property. For businesses and individuals investing in property, understanding property tax rates and potential exemptions can significantly impact financial planning.
Withholding Tax
Withholding tax applies to certain payments made to non-residents in Singapore and Malaysia, such as royalties, interest, and service fees. Proper computation and timely payment of withholding tax are essential to avoid penalties and maintain compliance. For businesses operating across borders, understanding double tax agreements can reduce tax liabilities.
Malaysia Accounting and Bookkeeping
Accurate accounting and bookkeeping are essential for financial transparency and compliance with Malaysian accounting standards. Profectant ensures that businesses maintain organized financial records, enabling better decision-making and audit readiness.
Malaysia Taxation Services
Navigating Malaysia’s taxation landscape requires a clear understanding of corporate tax, GST, and SST requirements. Compliance with the Inland Revenue Board of Malaysia (LHDN) regulations ensures businesses avoid penalties and optimize their tax position.