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Accounting & Tax Services

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Having a proper bookkeeping and tax system is vital for any company, regardless of size or industry, to efficiently manage daily business activities and keep the financial status of the business in check. Without it, committing financial blunders is imminent and may result to losses, penalties and prosecution.

More than simply complying with statutory obligations stipulated by governing bodies, such as the Company Registrar and Comptroller, maintaining accurate and complete records of all business transactions are instrumental for better financial analysis and successful management practices.


Accounting Services

DLBC accounting services can help your business stay on track with payments, invoices, bookkeeping, and payroll. Our professionals can provide advice to small businesses on the right investments and best structure for your business to ensure financial stability. 

Bookkeeping Services
Bookkeeping is the process of recording financial transactions and is a vital part of any business. Without accurate and up-to-date bookkeeping, it would be very difficult to run a successful business. Bookkeeping services not only provide a record of all financial transactions, but can also be used to track spending, monitor income, and prepare financial statements.

Account Payable
Accounts payable (A/P) is the money that a company owes to its suppliers. When a company orders goods from a supplier, it usually pays for them within 30 days. This means that the company has to keep track of how much money it owes to each supplier. 

Account Receivable
Accounts receivable (A/R) are funds that are owed to a company by its customers. This amount is typically recorded on the company’s balance sheet as an asset. In order to keep track of accounts receivable, companies will typically set up an accounts receivable ledger. This ledger will contain all of the pertinent information regarding each customer’s outstanding balance.
Companies typically send out invoices to their customers on a monthly basis. These invoices will list all of the products or services that the customer has purchased from the company, as well as the corresponding amount owed. Once the customer pays the invoice in full, the company will record the payment on the ledger and the account will be considered settled.

Payroll Processing
Payroll processing is the process of calculating employee wages and withholding taxes and benefits. Payroll processors use payroll software to generate pay stubs and calculate payroll taxes. Payroll processing is a complex and time-consuming task. Therefore, you should look to try and improve your payroll processing by hiring our DLBC payroll management. From there, we can help you with every aspect of your books that confuses you.

Bank Reconciliation
Bank reconciliation is the process of matching the balances in an organization’s accounting records with the corresponding information from the bank statements. This process is important in order to ensure the accuracy of the organization’s financial records. Bank reconciliation can be a complex and time-consuming task, but it is essential in order to maintain accurate financial records.


Tax Accounting

DLBC tax accountant is responsible for ensuring the company pays the correct amount of tax, and provides advice on how to minimize the amount of tax the company pays. We also help with preparing and filing tax returns.

Corporate Tax Filing Services
Corporate tax filing services is the process by which businesses and corporations report their financial information and calculate the taxes they owe to the government. The specific requirements and procedures for corporate tax filing services can vary depending on the country and jurisdiction in which the business operates. Here's an overview of the process:

  • Financial Records Preparation:
    Before filing corporate taxes, businesses need to ensure that their financial records are accurate and up to date. This includes organizing financial statements, income and expense records, and other relevant financial documents.


  • Determine Taxable Income:
    Businesses need to calculate their taxable income by subtracting allowable deductions and expenses from their total revenue. Tax laws typically define what expenses are deductible and what are not.


  • Complete Relevant Forms:
    Businesses are required to complete specific tax forms provided by the tax authority. These forms can vary depending on the jurisdiction and the business's legal structure (e.g., corporation, LLC).


  • Report Income and Deductions:
    On the tax forms, the business reports its total income, broken down into various categories, and lists the eligible deductions and expenses it plans to claim.


  • Calculate Taxes Owed:
    Based on the taxable income and the applicable tax rates, businesses calculate the amount of taxes they owe to the government.


  • Pay Estimated Taxes:
    In some jurisdictions, businesses are required to make estimated tax payments throughout the year. These payments are based on the expected annual tax liability and help businesses avoid large tax bills at the end of the year.


  • Complete Schedules and Attachments:
    Depending on the complexity of the business's financial situation, additional schedules and attachments may be required to provide detailed information about specific transactions or deductions.


  • Filing Deadline:
    Corporate tax filings have specific deadlines set by the tax authority. Businesses need to ensure that they submit their tax returns on time to avoid penalties or interest charges.


  • Tax Payment:
    Along with filing the tax return, the business usually needs to remit the tax payment. This can be done electronically or through other methods specified by the tax authority.


  • Review and Verification:
    Before finalizing the submission, it's important to review the tax return and ensure that all information is accurate and complete. Errors or omissions can lead to delays or problems with the tax filing.


  • Compliance and Documentation:
    After filing, businesses should retain copies of their tax returns, supporting documents, and any correspondence with tax authorities for a specified period in case of audits or inquiries.


Benefit From The Singapore Tax System Today
Singapore is nowadays called the playground of Asia – the hub of the continent and a desired place to live, work and play. But to top it all, and which probably is the foremost attraction for foreigners wishing to relocate to the city-state, is the country’s people-friendly income tax filing policies and Singapore tax rates. 

The Singaporean tax system makes it very easy for you to avoid the large Income and Corporation Tax costs that other nations nearby can provide. As such, it makes Singapore a haven for business in Asia. However, while the system itself might be complex to follow, the benefits that it offers are easy to see.

For one, you will pay one of the lowest rates of Corporation and Income Tax that you will find anywhere in the region – or in the world. This makes it easy for you to register a business here and benefit from commercially friendly business rates. However, the expectation is that all taxes will be handled and administered correctly – and on time.

Finding the time to do that on your own, though, is a nightmare. You should consider hiring an accounting and tax services firm.

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Personal Tax Filing Services
In Singapore, non-Singaporeans and non-Singapore Permanent Residents are treated as foreigners for tax purposes; and are liable to income tax on all income derived from or accrued in Singapore. How much they pay depends on their tax-residency status, with the cut-off periods being 60 days and 183 days. It is also important to note that if a foreigner is issued with a work pass that is valid for at least one year, he or she is treated as a Singapore tax resident upfront.

Our tax consultation specialists possess extensive advisory and compliance experience and can help you with your income tax filing needs.

We offer the following personal tax filing and tax preparation services in Singapore:

  • Registration for new tax payers
  • Preparation and filing of income tax returns based on your income
  • Determination of possible deductions and reliefs that are applicable to you
  • Request for extension of deadline, if necessary
  • Preparation of Form IR8A/IR21 for employees
  • Tax planning and tax advice

Tax Planning
Tax planning in Singapore implies finding a suitable way of reducing tax liability in a legal manner. Luckily, the Inland Revenue Authority in Singapore (IRAS) provides various tax exemptions that can be used as efficient tax optimization tools and thus obtain numerous benefits. To these, there is also the fact that Singapore is deemed as one of the most important financial hubs in Southeast Asia and offers increased confidence to all investors coming here.

Tax planning services provided by our accountants in Singapore
Our specialists are at your service with the following tax planning solutions in Singapore:

  1. Tailored support in drafting and filing income tax returns with the IRAS;
  2. Providing assistance in finding the suitable tax deductions and exemptions you can obtain;
  3. Optimization of the tax benefits you or your business is entitled to;
  4. Obtaining various tax incentives for companies in accordance with the industries they operate in;
  5. Other services based on the needs of private and corporate clients.


Chartered Accounting (CPA)
Chartered accountants are professional accountants certified by a professional body. They are usually employed by accounting firms, but can also work independently. CPAs provide a wide range of services, including auditing, tax advice, and financial planning.

Auditing Services
There are many different types of accounting auditing services available to businesses and organizations. These services can provide an independent, objective evaluation of an organization’s financial statements and their compliance with generally accepted accounting principles. Audits can help businesses and organizations identify potential problems and make necessary changes to improve their financial reporting.

Fractional CFO Services
A fractional CFO is a top-level financial executive who is hired on a part-time or interim basis to provide strategic and financial guidance to businesses. Fractional CFOs are usually brought in during periods of transition or growth, and their main focus is to help businesses make sound financial decisions that will improve their long-term prospects. While a fractional CFO does not have the same day-to-day responsibilities as a full-time CFO, they are still a vital member of a company’s leadership team and play a key role in shaping its future.

Forensic Accounting
Forensic accounting is the use of accounting principles and practices to investigate and analyze financial crimes. Forensic accountants use their skills in auditing, investigating, and accounting to detect and prevent fraud. They may work for law enforcement agencies, private accounting firms, or government agencies. Forensic accountants are also often called upon to testify in court as expert witnesses.

Schedule your consultation about Accounting & Tax Services in Singapore today with DLBC Business Consultancy Pte. Ltd.