In.Telligent Corporate Solutions

IN.CORP GLOBAL PTE. LTD.

One Raffles Place #41-01 Singapore 048616

www.indotcorp.com

Enquiry@indotcorp.com

SOLUTIONS

ACCOUNTING, PAYROLL AND TAX SOLUTIONS

Singapore headquartered corporate solutions provider specializing in corporate compliance, accounting, taxation, incorporation and expansion advisory services.

We are a Pan Asian, full-service professional services firm working with our corporate clients in connecting the Dots for their International expansion journey

OUR IDENTITY

WHAT WE DO

Why Choose Us

Whether it is an organic expansion or an M&A driven growth, we assist our clients in providing customized solutions as they start their International expansion journey including due diligence, search packages, valuation and market advisory.

We assist our clients in incorporating their businesses entities, setting up registered o�ces, providing quali�ed directors and establishing every aspect of local administration around payroll, tax registration, banking set up etc.

Our clients also rely on us for all their Compliance needs ranging from Accounting & Reporting, Company secretarial requirements, Taxation, Legal administration etc.

We have a team of industry experts that can work with the clients connecting them with the opportunity: whether this opportunity is in the form of expansion capital or potential merger.

• Business and Company formation services

• Advisory – comprehensive market entry analysis

• Advisory – comprehensive market entry analysis• Nominee services

• Accounting and Finance oustsourcing• Special projects • Payroll

• Tax planning and structuring• Tax �ling

• Immigration advisory

• Banking liaison• Treasury advisory• M&A & corporate consultancy

• Tax advisory• IP/Trademark �ling• Compliance advisory

• Connect clients with legal and �duciary service providers

• Internationalexpansionadvisory

• Human capital expansion• EP Filings/renewals/cancellations

Solutions acrossthe organizational lifecycle

Services Portfolio

Why Choose Us?

Knowledge centric, One stop solution providerFrom incorporation to consulting

Professionally diverse management team.Deep knowledge of industry and compliance

Value added services portfolio

Regional service offering

Excellent client relationships and successful track record

Responsive, diligent and collaborative

Before the Setup During the Setup Phase During the Steady State And Beyond

INCORPORATION

COMPLIANCE

ACCOUNTING

TAXATION

IMMIGRATION

SOLUTIONS & ADVISORY

LEGAL & FIDUCIARY

� � �

Write to us:

enquiry@indotcorp.com

www.indotcorp.com

ACCOUNTING, PAYROLL AND TAX SOLUTIONS

1 OVERVIEW The Singapore Companies Act requires all companies to record and maintain proper accounts to be laid at the company’s AGM. Each company has to file:

• Their Annual Returns (XBRL) • Corporate Income Tax (Form C or Form C-S) • Tax computations where required with or without the required compilation or audited accounts

These filings are done with the respective authorities, such as ACRA (Accounting and Corporate Regulatory Authority) and IRAS (Inland Revenue Authority of Singapore).

The graphic below captures the compliance requirements and timelines associated:

2 COMPLIANCE Key dates to remember:

• WITHIN 3 MONTHS OF COMPANY FORMATION – Appointment of Auditor. Unless the company is an Exempt Private Limited company.

• WITHIN 3 MONTHS OF FINANCIAL YEAR END – Submit ECI (Estimated Chargeable Income)

• BY 30TH NOVEMBER EACH YEAR – Submit your company’s Corporate Income Tax Form (Form C-S or Form C). In case of e-filing, due date is 15th December.

Key compliance points to note:

• Bookkeeping: Company should have proper system to maintain the records (for a period of 5 years from the relevant year of assessment) and the records need to be shared with IRAS upon request. These records would include source documents such as invoices, receipts etc., bank statements, other business transactions etc.

ACCOUNTING, PAYROLL AND TAX SOLUTIONS

• Financial Reporting: If your company is a limited exempt private company with a turnover of less than

SGD5 million dollars, we will be able to assist you with the financial report/ directors’ report and financial statements as per the Singapore accounting standards. If your company is a limited private company with a corporate shareholder or with a turnover of more than SGD5 million dollars, you will need to appoint an auditor. We work with our partner Audit firms who can assist you with your audit requirements.

• ECI Filing: Estimated Chargeable Income (ECI) needs to be filed with IRAS within 3 months of financial year end. Notice of assessment (NOA) gets issued within 1 month of filing time.

• Corporate Income Tax Filing: By 30 November, each year, all the required tax forms, tax computations and audited or unaudited financial statements have to be filed with IRAS. The NOA will be issued within 1 month from your filing date. Our tax consultants will be able to assist you in the planning, preparation and submission of the company’s tax, including providing updates on the yearly budgets where applicable

3 IN.CORP SOLUTIONS We offer a comprehensive range of Accounting, Payroll and Tax services. We assign a dedicated manager who works with your organization on an ongoing basis. Prior to the start of our engagement, we would sit with you to agree on the requirements, scope and processes to offer a customizable solution.

Brief snapshot of the services that we offer is captured below:

Bookkeeping Solutions across the entire Organizational life cycle needs Our team has knowledge and experience of working across a number of accounting packages and will be able to assist you with:

• Receipt of source data with appropriate account classification from you • Preparation of debtors and creditor aging reports • Maintenance of general ledger, preparation of necessary accounting journals for approval • Monthly preparation of Trial Balance, Balance sheet and Income statements • Preparation of monthly bank reconciliations and • Liaising with Auditors on year-end queries

Financial Statements Note that all Singapore incorporated companies, which are unlimited or limited by shares, must submit financial statements in XBRL (Extensible Business Reporting Language) format. Others that are allowed to continue to file financial statements in PDF format are as follows:

I. Companies limited by guarantee II. Companies that are commercial banks, merchant banks, registered insurers and finance institutions

as stated in the MAS Financial Institutions Directory III. All companies that are permitted by law to prepare in accordance with accounting standards other

than Singapore or International Financial Reporting Standards We can assist you with XBRL reporting as well as other financial statement requirements as follows:

• Receipt of your trial balance and associated information required • Preparation of the balance sheet and associated statements of income and cash flows based on

information in your trial balance • Where required assistance with preparing consolidated financial statements • Compilation of the associated notes to the financial statements including listing the significant

accounting policies as previously determined by you • Preparation of XBRL Financial Statements – Full or Partial

o Full XBRL would have Director’s report, statement, auditor report (if applicable), income cash flow and balance sheet statements, statement of changes in equity and all notes to statements.

ACCOUNTING, PAYROLL AND TAX SOLUTIONS

o Partial XBRL would include on the income and balance sheet statements apart from mandatory information required.

Payroll Solutions Payroll is probably the most important function for an organization – Especially if you are an International SME looking for a specialist provider with professional payroll systems in place to assist you with:

• Creation of Payroll database • Migration of employee data to Payroll Master • Monthly direct staff payments • Monthly Payroll administration, processing and reporting • Issuance of pay-slips • Part salary payments • Statutory deductions • Compliance with Statutory Deductions • Bonus and Related runs • Bank account linking

Tax Solutions Tax compliance is an integral part of the overall corporate compliance requirements in Singapore. Our team can assist you with:

• Annual tax returns services that include Corporate tax computation (ECI) • Preparation of tax forms and filings • Preparation of Form C/C-S for submission • GST registration with IRAS • GST filing on a periodic basis.

We can also assist you with GST (Goods and Services Tax) registration and filing on a periodic basis. GST is fairly similar to the Value Added Tax (VAT) in many countries. It is a consumption tax on most domestic goods and services. Singapore’s GST is currently at 7%. Key points to note:

• GST is exempted for the sale and lease of residential properties and most financial services • Export of goods and international services are not subject to GST • GST is collected by suppliers of domestic goods and services who are registered with the Comptroller of

GST • For the import of goods, GST is collected by Singapore Customs at the point of importation into

Singapore. • A supplier of goods and/or services, whose annual revenue exceeds or is likely to exceed S$1 million, is

required to register with the Comptroller of GST • A supplier, whose revenue does not exceed S$1 million may voluntarily register with the Comptroller if it

is beneficial to the business • Once voluntarily registered, the supplier must comply with the regulatory requirements and stay

registered for a minimum of 2 years. Write

ACCOUNTING, PAYROLL AND TAX SOLUTIONS

4 IN.CORP PACKAGES AVAILABLE Depending on your requirements, a number of packages are available to select from:

Package Basic Simple Comprehensive BOOK KEEPING

Transactions • Up to 20 per month to process & reconcile

• 20 to 50 per month to process and reconcile

• More than 50 per month to process and reconcile

Bank Accounts • One bank account – reconciliation

• Up to 2 bank accounts with reconciliation

• 2 to 5 bank accounts with reconciliation

Terms • Mostly cash terms payments & receipts

• Setting up of payment runs (2 per month) apart from adhoc payments

• Prepayments, accruals and reversals

• Formal payment runs apart from adhoc payments

• Prepayments, accruals and reversals

Debtors & Creditors • Up to 5 debtors and creditos

• 5 to 50 debtors and creditors

• More than 50 debtors and creditors

Financial Statements • Annual closing of accounts

• Financial statements

• Quarterly closing of accounts

• Financial statements

• Monthly or Quarterly closing of accounts

• Financial statements TAX SERVICES

GST • NA • Quarterly • Quarterly

Other Filings • ECI • Form C/C-CS

• ECI • Form C/C-CS

• ECI • Form C/C-CS

PAYROLL SERVICES Employees • Up to 5 • 5 to 20 • More than 20

Payroll Plus • Staff Exit management • Annual IR8A • CPF Submission

• Staff Exit management • Annual IR8A • CPF Submission

• Staff Exit management • Annual IR8A • CPF Submission

Notes

• ‘Transactions' refer to payments/expenses/money going out, deposits/sales/money coming in to the bank account.

• Payroll related – payment to one employee (salary or claim) including CPF constitutes one Transaction. • Packages assumes client will be using In.Corp's accounting software • Business credit card and / or paypal account management is included for Simple and Comprehensive

packages • Consolidation of accounts if required, can be offered as well.