- Newsletter, Singapore
- October 21, 2019
Singapore is a thriving market to set up a new business in; however you should ensure that you are aware of all the obstacles you might face in this process and know minute details of how to start a business in Singapore.
For companies who are wanting to expand their operations in the Asia Pacific region, Singapore happens to be an attractive and top choice. It is known for the ease of doing any business, attractive tax rates and related incentives, availability of skilled workforce, country’s stability and steady economic growth. So, if you are thinking of setting up your company there, the first step should be to get the incorporation process right from the start, thus, avoiding any delays that could cost a lot.
The key steps to incorporate a company in Singapore
There are three key steps for company formation in Singapore.
1.Name reservation: This can be done in just an hour or so, if you have an approved name reserved for four months starting from the application date (please note that no extension to this time period is allowed). To avoid any chance of rejection, it’s best to check the Accounting and Corporate Regulatory Authority’s (ACRA) database first to avoid identical names to any existing companies. In case your company is a part of some group, then a letter of appeal has to be submitted for using a similar naming to the other group companies, though the appeals process can end in a delay of up to two months. Same kind of delays could be incurred in case the name has certain words like ‘bank’, ‘law’, ‘finance’, ‘school’ and ‘media’ as other government authorities would be required to approve the use of the term. You would then need to submit all the details of the directors and shareholders when you apply for a name, so you should have already decided this.
2.Appointment of a minimum of one resident director:The director should be at least 18 years of age, of full legal capacity and must be a permanent resident, a Singapore citizen, and an Employment Pass holder (EP) or Entry pass holder, though an EP has to first get a letter of consent from the Ministry of Manpower prior to becoming a company director. This individual should also not have been disqualified anytime previously from acting as a director.
Company registration process: The application can be submitted through the ACRA online filing system. After submission of your registration documents, an instant approval from ACRA would be given to you through an email and the incorporation procedure would usually be effective on the same date. In some exceptional cases, ACRA might perform random background checks specifically on the information submitted during company registration process, which could further delay the registration by around two months. A company might opt for a preferred registration number out of a list of reserved registration numbers, which comes for a fee. This can be done during the company’s incorporation or registration. ACRA would offer a complimentary business profile after they incorporate the company.
- Newsletter, U.A.E
- October 21, 2019
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, whose the Crown Prince of Dubai and Chairman of the Dubai Executive Council, stressed that foreign direct investment (FDI) flows coming into Dubai this year have continued to grow significantly, thus making the emirate one of the top three international FDI locations.
This accomplishment was made possible by the vision and guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, Sheikh Hamdan said.
He also said that such a success shows the confidence of the local and international investor community in Dubai’s tactical plans and foresight for the future.
In this regards, Sheikh Hamdan had released orders to hold the fifth edition of Dubai Investment Week (DIW 2019) that started from September 29 to October 3, which had the theme ‘Investing in the City of the Future’. He said this week-long programme of multiple events would demonstrate how Dubai has changed the challenges that future cities could face into opportunities for their growth, innovation and partnership to cope up with the requirements of the present and spearhead the world as the sustainable and smart city of the future.
“Dubai leadership’s push in adopting Fourth Industrial Revolution technologies and creating regulatory frameworks for new business models have further developed Dubai’s investment environment and opportunities as well as its human capital, and hard and digital infrastructure advantages,” said Sheikh Hamdan. He also mentioned that today, Dubai has become a preferred international FDI destination when it comes to artificial intelligence or robotics.
Sheikh Hamdan bin Mohammed acclaimed the role of Dubai Investment Week, which was organised by the Dubai Investment Development Agency (Dubai FDI), in augmenting the promptness of the investment atmosphere and investor confidence in the emirate, while stressing the current and upcoming investment prospects in the strategic and developing economic sectors in the emirate.
He also acclaimed the growth attained in facilitating investments, company registration in Dubai and aiding the success and growth of businesses through introducing new and more innovative legislation and services.
Sami Al Qamzi, who is the director-general of Dubai Economy, mentioned that DIW 2019 edition has been brought out at a time when the UAE’s and Dubai’s investment environment is seeing many positive developments
This could be a good time for company formation in Jafza and company formation in DMCC
- India, Newsletter
- October 21, 2019
India’s economy has been little slow in the first quarter of this fiscal year supplemented with a drop in consumer demand and also investment. The GDP’s slowdown affected the investments in various sectors such as automobile, real estate, manufacturing, etc. and these sectors are also going through a slump. The Indian Government is quite aware of this current situation of the economy and has made efforts to give a few economic boosters a couple of weeks back. However, now the government has announced a great benefit for the Indian Corporate sector. On 20 September 2019, the Indian Government has passed a Taxation Laws (Amendment) Ordinance, 2019 which is meant to amend the Finance (No. 2) Act, 2019 to offer effect to the corporate tax cuts, elimination of super-rich surcharge which was levied on capital gains tax, etc. The main takeaways from this announcement and ordinance are as mentioned below:
The takeaways
1.Decrease in Corporate Tax to 22% certain for domestic companies:
- Reduction in corporate tax to almost 22% (effective tax rate comes to 25.17% after surcharge and cess) applicable for all domestic firms from Financial Year (FY) 2019-20.
This rate will be applicable subject to the following:- Company is not availing any exemptions or other incentives, which inter-alia includes:
- Any SEZ benefits
- Extra depreciation allowance
- Deduction for investments made in new plant and/or machinery specifically in notified backward states
- Deduction given for tea, coffee, rubber development allowance or in site restoration fund
- Expenditure made on account of scientific research, skill development project, agricultural extension project, etc.
- Specific Tax Holidays given under Part C of Chapter VI (such as profit link deduction for SEZ development, undertakings in particular states or areas, housing projects, etc.). But, deduction in regards to employment of new employees given u/s 80JJAA would still continue to be given.
- Company would not set off any loss which is carried forward from the previous year in case such loss is attributable to any of the exemptions or incentives that are mentioned above in the current or following year.
- Tax return should be filed by the firm within the prescribed due date.
Please note that the above-mentioned concessional tax rate is at a discretion of the taxpayer, that is, they could either go for the concessional tax rate of 22% or have an option of continuing with the existing tax rate of 25%/30% with continuing the tax incentives/exemptions that are provided above. In case the option of a concessional tax rate of 22% is exercised even once in any year, then it cannot be withdrawn subsequently.
Companies which are not opting for applying the concessional tax rate could carry on paying at the current corporate tax rate and continue claiming the exemptions or incentives. After the tax holiday period or exemption expires, the firms can choose the concessional rate.
- The entity opting for 22%, would not be liable for Minimum Alternate Tax (MAT).
2.Decrease in Corporate Tax to 15 % for some particular manufacturing firms:
- The concessional corporate tax rate applicable for a new manufacturing company is now reduced to 15% (at an effective tax rate of 17.01%), and is subject to the below-mentioned conditions:
- Company should be incorporated after 1 October 2019 and should have started production on or before 31 March 2023.
- The company should be involved in manufacturing or production, or research with regards to such article produced.
- All the terms and conditions mentioned for taking this 22% rate (specified in point 1) would be applicable.
- Such firms should not have been formed by splitting any already existing businesses or by using previously used plant or machinery or utilise any building that was earlier used as a hotel or convention centre.
- Additionally, provisions of Domestic Transfer Pricing would be applicable for the transaction which happens between a new manufacturing firm and all the related parties.
- Please note that the above-mentioned concessional tax rate is at a discretion of the taxpayer and after the option is exercised in any year, it cannot be withdrawn subsequently.
- The company which is going for 15% tax rate, would not be eligible for Minimum Alternate Tax (MAT).
3.Decrease in MAT rates:
- MAT has been cut from 18.5 % to 15%, in case of the firms that do not choose to pay tax under these concessional tax rates.
4.Rollback of increased surcharge:
- The increased surcharge which was announced in the Finance Act 2019 in regards to individuals, Association of Person (FPIs would get covered here), HUF, etc. on income going above some stated limit has been relaxed in terms of capital gains resulting from sale of equity share in a firm or a unit of a business trust which is eligible for securities transaction tax (STT), or a unit of an equity-oriented fund.
- Increased surcharge which was introduced in the Finance Act 2019 would also not be applicable to Foreign Portfolio Investors (FPI’s) while a sale of any security including derivatives is done.
5.Respite from Buy-back tax:
- Listed companies which have announced buy-back of shares earlier than July 5, 2019, would not be charged with any buyback tax.
The FM has also talked about increasing the scope of Corporate Social Responsibility (CSR) spending of the usual 2% to other beneficial areas. The CSR can now be consumed on incubators which are funded by central or state governments, or any agencies or PSU of central or state government, and also publicly-funded universities, National Laboratories, IIT’s, and any Autonomous bodies who are involved in research in fields of science, engineering, technology and medicine.
- Article
- October 18, 2019
About Germany
Germany is a federal parliamentary republic located in the central part of Northern Europe. It is strategically located and shares borders with Denmark, Poland, Czech Republic, Switzerland, Austria, France, Luxembourg, Belgium and Netherlands.
Germany is having the largest economy in Europe. Moreover, it has a social market economy, meaning it embraces the spirit of free enterprise but at the same time imposes controls and other measures to establish fair competition within the country. The economy of the country is driven majorly by the manufacturing sector. In addition, many technology-driven companies in the service sector also contribute to the economy. Moreover, Germany is also one of the largest exporters in the world.
Germany ranks 20th in the World Bank’s, Ease of Doing Business Report 2019 and 25th in the Index of Economic Freedom. This is a testament to the country’s forward-thinking approach to business, protection of intellectual property rights, sound business regulatory environment and openness to global commerce.
This article covers everything you need to know about doing business in Germany, right from understanding the country’s tax and legal compliances to knowing about the types of business entities that can be formed.
Doing Business in Germany
Germany has the largest population in entire Europe and therefore enjoys the largest consumer market in the European Union. It enjoys good trade relations with other countries in the world including Singapore, Middle East and India. The process of incorporating a company in Germany can be tedious hence it is advisable to take help from professionals who can guide you to smoothly incorporate a company in Germany.
Types of Business Entities for Incorporation in Germany
You can incorporate the following types of business entities in Germany:
- Limited Liability Company (having suffix GMBH)
- Regular Partnership (having suffix OHG)
- Limited Partnership (having suffix KG)
- Stock Company (having suffix AG)
Depending on the type of entity that you choose to incorporate, the rules and regulations vary. Every type has its own advantages and disadvantages. Therefore, one must analyse all the conditions before incorporating a business entity in Germany.
Benefits of Registering a Company in Germany
Some of the advantages of registering a company in Germany include:
- World-class infrastructure
- Protective government regulation
- Innovative nation
- Advanced technology
- Educated and skilled labour force and human capital
Tax Registration and Filing in Germany
Business entities such as limited liability companies and stock corporations having a place of management in Germany have to pay corporate income tax on the worldwide income unless otherwise mentioned in tax treaties. Some of the important things to consider in relation to taxation in Germany are:
- The tax year is the calendar year.
- The due date of filing the annual tax returns is 31 May of the year following the tax year.
- The due dates of prepayments of trade tax are 15 February, 15 May, 15 August and 15 November.
- The due dates of corporate income tax are 10 March, 10 June, 10 September and 10 December.
- The German group of companies are required to consolidate their taxes as per the German tax law.
Tax Structure
| Corporate Income Tax Rate | 15% |
| Capital Gains Tax Rate | 15% |
| Trade Tax Rate | 14% |
| Branch Tax Rate | 15% |
| Value-Added Tax (VAT) | Standard Rate – 19% Reduced Rate – 7% |
| Dividends | 25% |
| Interest | 0% |
| Royalties from Patents, Know-how | 15% |
| Branch Remittance Tax | 0% |
Germany’s Double Taxation Treaties
Germany has double taxation treaties with over 90 countries including Singapore, India and Middle East nations like the United Arab Emirates, Dubai, Iran among others.
If you are a company in Germany and looking for company formation in Dubai or company formation in Singapore, you may get in touch with IMC Group.
Legal and Compliance Requirements in Germany
All incorporated entities in Germany are required to comply with the below-mentioned laws:
- All incorporated entities have to prepare their financial statements including balance sheet and profit and loss statement towards the end of the financial year.
- Although there are no foreign exchange controls, payment transfers exceeding € 12,500 from or to Germany must be reported.
- Reporting must be done for any participation in direct investment from or to Germany, equal to or exceeding 10%.
- While carrying € 10,000 in cash and crossing a non-EU border, it is mandatory to fill customs form.
- Based on the size of the entity, the disclosure requirements by the German Commercial Code vary.
Company Secretarial Compliance in Germany
Before starting a business in Germany, you need to register your business with the German commercial registry.
Other requirements include:
- All companies in Germany are required to have a registered office of their own.
- It is mandatory for large companies to submit their financial statements including balance sheet, profit and loss statement, notes and management report, along with audit certificate to the German commercial registry and publish the same in the German Federal Gazette.
- It is mandatory for small companies to submit their balance sheet and notes to the German commercial registry and publish the same in the German Federal Gazette.
- Medium-sized companies have to only file their financial statements at the German commercial registry and publish the same in the German Federal Gazette.
Accounting Services
The accounting requirements in Germany are prescribed by the German Commercial Code and the German General Tax Code. It is mandatory for all the companies to prepare proper books and accounting records in accordance with the German regulations.
Auditing Services
As per the German law, medium-sized and large companies have to get their annual financial statements audited. Companies can either opt to use International Financial Reporting Standards (IFRS) or German Generally Accepted Accounting Principles (GAAP) for accounting. However, those companies whose securities trade in a regulated market have to prepare consolidated financial statement using IFRS, based on the provisions of the EU International Accounting Standards (IAS) Regulation.
- Article
- October 14, 2019
AI started in the year 2015 and the business world was spellbound with the technology, pulled in by headlines that attracted a huge range of emotions from excitement to fear mongering.
Today, after five years into the journey to enhance tax and accounting workflows using data, analytics and AI, we can say that the real-world advancement of this technology is much more heartening — and constructive — than either of those previous narratives would suggest.
The reality is that AI is not going to take the jobs and it is surely not doing your taxes. However, it will certainly help tax and accounting experts in keeping up with the onslaught that the new tax legislation brings in. It will also assist in handling tax code amendments and global trade disruption that otherwise would be challenging for them. It is making this happen by streamlining the monotonous, cyclic, labour-intensive tasks and releasing time and brain space for tax professionals to think more strategically and bring more value to the table for their clients and colleagues.
This pattern has been observed across almost all areas of knowledge work and not just in the accounting field. More clarity has been gained through our introducing a range of new AI-powered research tools particularly for tax, legal and accounting experts that the value of this technology as it advances would be focused directly on productivity. To sum it up, the technology that so many people dreaded would replace human beings is in reality creating better opportunities for more getting billable hours applied to greater value/cost activities and less on menial tasks that no one really wished to do in the first place.
Handling information overload
When look at the second phase of AI integration into knowledge tools, we begin to understand the technology that it not only reads and interprets text, but it also surfaces meaningful insights from any particular text. An example of this from presently available technology would be the application which can scan legal briefs or memoranda and utilising AI to advise other applicable cases to include or weak cases to ignore based on rational analysis of the underlying case law.
This technology is surely not a substitute for the legal and accounting professional; however, it is certainly a tool which enables making their workflow easier, manageable and also serves as a precious gut-check for their labour-intensive case selection processes and tasks. This capability is becoming more and more appreciated as knowledge workers are overwhelmed with more data.
The future of AI
As we look towards the upcoming phases of development for AI in terms of tax and accounting and other similar knowledge-intensive sectors, it is clear that the technology would ensue a similar evolutionary route. The technology that is used these days to find meaningful insights out of unstructured data sets is being created now to aggressively monitor for anomalies and detect any possible risks. That capability would open the path to more complex, predictive scenario projection and analytics, and, eventually make the automation of many of such capabilities possible.
There are AI skeptics would say that job losses are not far behind, but this constricted view of the world overlooks the human capability to do more things and develop our capabilities along with technology. Through history, as technologies have developed, our capability to do more with the time we have achieved through improved efficiency has grown with it. This would continue in the AI future, thus opening up new heights of achievement that would have seemed impossible just a few years back.
How will AI effect the tax and accounting profession?
The key trends for AI in tax
So you must be wondering about how AI or artificial intelligence is going to affect you and your company? Jordan Kleinsmith, who is the Product Innovation Lead for tax and accounting professionals at Thomson Reuters, says that the key AI trends for tax and accounting can be categorised into two main areas; one, assisting the workforce to do their existing tasks more efficiently and aiding them to discover new services they can offer to their clients. AI-enabled programs help the professionals to process more number of returns in lesser time because it can help in answering various questions on complex topics much faster. When the professionals would have this spare time to spend with their clients along with AI, then they can find newer ways to serve their clients, which can help in maximizing both the company’s top and bottom line.
What would AI look like in my routine work?
The most common impact of AI in the tax and accounting sector is in the area of research. The Tax Cuts and Jobs Act (TCJA) introduced almost 3,000 new pages only to the federal tax code, which doesn’t include that of the individual states. Assuming that a CPA would understand each characteristic of all of those changes, particularly those with clients located in multiple states, would be impractical. Rather, we can facilitate the workforce to find the solutions they are looking for in a much simpler way. Instead of typing in keywords and scrutinising through the information, the employees can just type their question in English, like you do in the Google search engine. This kind of feature would help to create a user-friendly system, which is what AI does. These things enable the right solutions to be found in much lesser time, and your company doesn’t need to be anxious about the information’s reliability as it’s coming from the best and trusted sources.
However, if AI is to be more extensively used by tax and accounting companies, then it has to become more and more accessible. When it was introduced, only big firms that had in-house capabilities worked with AI. But today, as more software is easily available for purchase such as Thomson Reuters Checkpoint Edge, many smaller organisations can also try this technology and the overall industry could take advantage from the increase in quality.
How does AI work and how is it different than other technologies?
One of the key features that makes AI different is the user’s capability to participate in a more natural dialogue with this technology. Rather than engaging in a continuous back and forth search process, AI utilises predictive search to help in getting to the exact question you are asking and accordingly put the best sources on top of the search, so that you could get the required information in much lesser time. This technology is also capable of suggesting concept markers of various topics that the searcher might also be interested in learning, and which could eliminate the need of another separate search in most of the situations.
- Article, India
- October 8, 2019
India has witnessed an expansion in the establishment of new software companies. Due the tech-movement throughout the world, there are more and more software firms in the market today. Setting up a software company may be very interesting but also could be challenging in some respects, because of the legal procedures and complexities. You could be in a hurry to build a path breaking software product, to get customers for it, to design out-of-the-box workstations, etc.
However, it’s always advised to first understand that the regulating statute applicable for the software companies under the New Companies Act, 2013. In this article we will be talking about how to register a private limited company in software field in India? We will also discuss the legal formalities to start a software company and do a company formation in India.
Basic steps for registering a software company in India
The first step to register your own software company is to identify a unique and descriptive name for your firm and then get it registered with the Registrar of Companies. After the name is registered, the next step is to get a Company Identification Number or CIN. Then the next step is to submit all the needed legal forms and documents before the Registrar of Companies (RoC). Please remember to be as descriptive in the submissions as possible. Make sure to include the name of all the shareholders, funds, the total amount of share capital and all the other important information. Post the verification and approval of your submitted documents, you would be legally owning your software company. The last step is to apply for a certificate of registration.
The legal procedures to set up a software company in India
The legal formalities for setting up a software company or company formation in Delhi requires two broad steps – one, the pre-registration procedure and the second is the post-registration process.
The pre-registration procedure includes the following steps:
- Get your Directors Identification Number or DIN: The first step for starting your software firm in India is identifying the directors. In an ideal situation, the number of directors have to be between two and eight, not more not less. It is mandatory for all the directors to have a separate DIN. The directors can get their DIN by giving their documents of identity proof such as Passport, PAN card, Voter’s ID and residence proof documents such as Ration card, EB bill, etc.
- Reserve and register a Company Name with the Registrar of Companies:For registering the intended company name for your new software firm, you are required to find a good and suitable company name to check if the name you prefer is available or not. In case it is not available, you might have to look for alternative names while keeping in mind the relevant MCA guidelines for the naming process.
- Apply for the Certificate of Incorporation: Next, you must apply for getting the Certificate of Incorporation. At this juncture, you have to draft a Memorandum of Association (MoU) while also including the firm’s first directions and operations thereof. For applying, you need to submit the duly-filled application along with the form 1A and upload it on the official website of the relevant department.
- Get your Digital Signature Certificate (DSC): According to the provisions of the Information Technology Act, 2000, a software company must mandatorily have a valid Digital Signatureon the documents that are submitted electronically. This also ensures the authenticity and also the security of the documents which are filed electronically.
Steps for setting up a software company
- The first step is to provide a brief description of your business; for example, the type of product, sector, target customers and the type of technology you would be using. You need to mention all details related to that particular software like how it is going to be developed and what is the supply to the market, etc.
- Then, you need to select the form of your company; for example, whether it is a sole proprietorship or private firm or a partnership. The main factor that determines the form of your company is the size of it, the range of company’s risk, the target market and the budget. You must plan as per your goal and decide if you would operate nationally or globally.
- Now, select your region and get relevant knowledge to update yourself regarding the business laws applicable in that perspective region.
- Register your software firm under ROC. When registering, it is mandatory to file an application to the same office where the head office is located.
- Select the place where you are thinking of setting up an office. Post getting the certificate from ROC, you can begin hiring employees for your new company.
- It is always recommended to register your company in the state or region Department of Employment for legal hiring and also for offering jobs. If you apply in one state, it would offer you to do the hiring from anywhere in India. But in case you do not register, then there might be problems in your hiring process.
- Lastly, you must register under Software Technology Parks India (STPI). This would help you to reap the entire legal benefits and other advantages like tax breaks, etc.
In case you need professional advice or assistance to carry on the legal procedure to form a software company, please get in touch at [email protected] with us. We would be happy to help.
- Article, Singapore
- September 30, 2019
Often people use the term bookkeeping services and accounting services interchangeably. But in reality, they both are different altogether. In fact, both these services have different scopes and implications. In this article, we will explain the difference between these two terms which will help you better understand these services.
Let us first learn the meaning of bookkeeping services.
Meaning of Bookkeeping Services
Bookkeeping services is the activity of maintaining and recording financial transactions in an accurate and systematic manner. The focus of bookkeeping services is to maintain the financial records of the company and report them for further accounting services. Bookkeeping services involve making journals and ledgers.
Let us now learn the meaning of accounting services.
Meaning of Accounting Services
Accounting services have a much wider scope than bookkeeping services. The accounting services involve recording and reporting of the financial affairs of the company for a particular time period. It involves preparation of balance sheet, profit and loss statement and cash flow statement. With these services, a business can know the financial position of the company. This service can be outsourced to a reputed firm who has the required experience and expertise. IMC Group is one such organisation that leads the market in providing outsourcing finance and accounting services.
Let us now learn the major differences between a bookkeeper and an accountant.
Differences between a Bookkeeper and an Accountant
An accountant is a person who has the expertise and knowledge of the accounting process. The job of an accountant is very complex in nature and requires special analytical skills. The accountant must hold at least a bachelor’s degree. An accountant becomes a Certified Public Accountant if he has passed a higher level examination of CPA. On the other hand, a bookkeeper is one who has the basic knowledge of accounting and has taken several accounting courses. The basic responsibilities of the bookkeeper include collecting financial statements, balancing the accounts, reconciling the figures, etc. Bookkeeper’s job is mechanical in nature and it does not require any special skills.
The accountant verifies the data collected by the bookkeeper and analyses the performance of the company. Even though the job of bookkeeping and accounting are totally different yet there are some similarities between the two. In this section of the article, we will learn about the similarities between accounting and bookkeeping.
Importance of Bookkeeping in Accounting
The bookkeeper collects and records all the data of a financial transaction. The duties of the bookkeeper make the job of an accountant easier and simpler. The accountant gets the financial transactions in an organised manner and the work of accounting can be done with ease. The bookkeeper collects data from all the departments of the company and the accountant verifies the data. The major decisions of the company are taken after the outcome of verification and analysis of the bookkeeping data by the accountant. Therefore, the job of bookkeeping is very important for any business to be successful in the long run.
Let us now learn about the responsibility of the bookkeeper and accountant.
Responsibility of Bookkeeper and Accountant
The main job of the bookkeeper is to maintain and record the financial transactions on the basis of single entry, double entry and virtual bookkeeping system. On the other hand, the responsibility of an accountant is diverse. An accountant has a wider job scope that involves not just financial accounting but also management accounting, cost accounting, responsibility accounting and HR accounting.
Looking for Accounting and Bookkeeping Services?
IMC Group is one of the leaders in providing accounting and bookkeeping services in Singapore. Every company that is registered in Singapore has to comply with the Singapore Companies Act and maintain financial records accordingly. We at IMC Group, fulfil all your needs by maintaining proper books of accounts and meeting all the compliances on time. By hiring us for accounting and bookkeeping services you not only save your money but also get an expert opinion on various financial matters. Our services assist you in focusing on the core competencies of the business and you can work with increased efficiencies. To avail our services, you can contact us via email and know our quotation. We will be glad to serve you.
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