Counto

NOVEMBER 10, 2024

Importance of Keeping Detailed Financial Records for Tax Deductions and Incentives For F&B businesses, maintaining accurate and organised financial records is essential to maximise tax deductions and ensure full compliance with tax laws. Here’s why it matters: 1.

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Counto

NOVEMBER 10, 2024

Our expert accountants deliver comprehensive services—from bookkeeping to tax filing—at transparent rates. Strategic planning for growth : Financial guidance can help you plan for expansion and handle the financial challenges of scaling up your business. At Counto, we prioritise your bottom line.

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Counto

MARCH 19, 2024

Tax Deadlines Resident sole proprietors generally need to file their personal income tax returns by April 15th each year. Non-residents have varying deadlines based on their tax residency status. Record Keeping Maintain meticulous financial records, including income statements, receipts, invoices, and expense records.

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Counto

OCTOBER 3, 2024

Here are some strategies for leveraging working loans effectively while considering corporate tax implications. Invoice Financing: This enables businesses to borrow against unpaid invoices, improving immediate cash flow without waiting for customer payments, thus avoiding potential tax liabilities from delayed cash inflows.

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Counto

OCTOBER 3, 2024

Prioritise Compliance and Record-Keeping Proper record-keeping is fundamental for meeting regulatory requirements and preparing for audits. Maintain Detailed Financial Records Every transaction, whether a sale or an expense, should be accurately documented. Optimise your e-commerce finances today.

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Counto

SEPTEMBER 12, 2024

Establish a Robust Bookkeeping System 1.1 Adopt Effective Accounting Software Simplify Financial Management: Implement accounting software like QuickBooks or Xero to streamline your bookkeeping. These tools automate tasks such as recording transactions, generating invoices, and creating financial reports.

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Counto

JANUARY 21, 2025

Filing Corporate Income Tax Returns (Form C-S/C) e-Filing Deadline: 30 November 2025 All companies, even those that are dormant, are required to submit their corporate tax returns. To streamline the process, ensure your financial statements and any supporting documents are organised early.

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Counto

SEPTEMBER 20, 2024

Let Counto’s tax specialists handle Singapore’s tax complexities for you. Bookkeeping Practices for Accurate GST Reporting 1. Real-Time Monitoring: Automation provides real-time insights into GST liabilities and overall financial health. Explore our plans here.

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Counto

SEPTEMBER 17, 2024

Each refund is recorded with details about the original purchase and the reason for return, ensuring accurate financial records and inventory updates. Counto’s all-inclusive accounting plans for online sellers feature multicurrency support, unlimited transactions, GST submissions, and tax filing—with no hidden fees.

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Counto

OCTOBER 8, 2024

Key Features of Counto’s Virtual CFO Services Comprehensive Financial Management: We cover pitch assessments, tax optimisation, payroll management, and more, allowing you to focus on core activities. Enhanced Financial Control: We assist with budget planning and provide data-driven insights to inform your financial decisions.

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Counto

NOVEMBER 7, 2024

Example : A café upgrading its kitchen equipment can benefit from accelerated depreciation, lowering its taxable income and reducing its corporate tax liability. Financial Statements : F&B businesses are required to prepare financial statements in accordance with Singapore Financial Reporting Standards (SFRS).

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Counto

JUNE 13, 2023

In this article, let us examine potential reasons why your business tax return may attract attention and provide valuable insights on avoiding them, ensuring a smooth and trouble-free corporate tax filing experience. Supercharge your business with Counto, a trusted provider of tax and accounting services for SMEs in Singapore.

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Counto

MARCH 23, 2025

Centralised Financial Management A single platform for accounting, tax, and secretarial tasks brings all your financial data into one accessible place, simplifying management and providing clarity. Real-time Visibility Gain immediate insight into your financial health with real-time dashboards, enabling better decision-making.

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Counto

SEPTEMBER 7, 2024

Our expert accountants deliver comprehensive services—from bookkeeping to tax filing—at transparent rates. Fieldwork: The auditor reviews your financial records, such as invoices and bank statements, and interviews key personnel. Review and Testing: The auditor tests your financial data for inconsistencies or errors.

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Counto

NOVEMBER 27, 2024

Key tax considerations: GST Registration: Required if your business turnover exceeds S$1 million annually. Corporate Tax: Franchises in Singapore are subject to corporate tax at a rate of 17%.

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Counto

JANUARY 13, 2025

Recording Charity Donations in Bookkeeping for Small Businesses in Singapore Contributing to charitable causes is a powerful way for a small business owner in Singapore to give back to the community. Beyond the social good, charitable donations can also provide significant financial benefits.

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