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Consolidated financial statements for a Singaporean holding company in 2023

Since 2003, Healy Consultants Group PLC assists multi-national Clients’ timely accurately and completely discharge their annual Singaporean legal, accounting and tax obligations. Our in-house Accounting and Tax Department prepared this web page to help you understand how we project manage the statutory obligation to prepare consolidated financial statements:

No.Singaporean tax resident company – annual accounting & tax obligationsUS$
1.Preparation of consolidated financial statements (a 15-page annual report) including:

  • Restructuring and reclassifying group income and expenses so as to i) clearly explain transactions and ii) legally minimize corporate tax of group of your companies; and
  • Compliance with Singaporean Financial Reporting Standard on Consolidated Financial statements; and
  • Crafting accurate and complete consolidated financial statements disclosures, to properly explain to IRAS the group annual transactions and corporation tax liability (if any);
  • Review and analysis of your related party transactions in the consolidated Trial Balance;
2,700
2.For our Client’s Singaporean tax-resident entity, our in-house Accounting and Tax Department will help secure a legal exemption from ACRA and IRAS re:

  • the statutory obligation to prepare consolidated statements;
  • the statutory obligation to submit consolidated financial statements to an independent statutory annual audit; and
  • the statutory obligation to submit annual FATCA and CRS reports;
550
3.Our Staff to help our Client evaluate the statutory obligations to:

850
4.
  • Legally minimize Singaporean corporation tax and withholding tax;
  • Preparing an accurate and complete i) corporate tax return and ii) tax computation and iii) tailored cover letter for IRAS, explaining why corporate profits are legally minimized;
  • Negotiating written inquiries and phone-calls from the Singaporean Tax Authorities (post tax return submission), justifying annual net profits and losses;
1,200
Total annual accounting & tax fees for a Singaporean holding company 5,300
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