KJ Advisory Pte Ltd

As per statutory requirements, Singapore companies are to appoint a company secretary within 6 months after its incorporation. Company Secretary carries an imperative role by making sure that the company is in compliance with the policies set by the Accounting and Corporate Regulatory Authority (ACRA) and the Singapore Companies Act. The sole Director is disqualified from filling this role. We as your company secretary will ensure that your company is up to date, all documents completed, and available for timely submission. Apart from that, our professionals are also constantly updated on ever-changing policies, keeping track of all time bars and avoid unnecessary expenses of penalties imposed by statutory bodies on your company.

We aim to make your business prosper. We make practical suggestions and organized problem-solving approaches to every obstacle that the company faces.

Tax in Singapore is categorized greatly into two main groups, Individuals for personal income tax and Corporates for company income tax. Computing Tax and filing for tax returns may be disconcerting even to the most experienced taxpayer.

KJ Advisory understands the unsettling concerns of many clients and is therefore here to take over all these responsibilities. We as your tax agent shall fully manage your Company's annual Income Tax Return, provide professional tax advisory services and make sure that every single piece of information that concerns your company in relation to the Inland Revenue Authority of Singapore (IRAS) shall be accounted for. We take good pointers to every newly announced tax policy by Singapore Government’s so that your company does not miss out. We worked hard, we save smart.

Payroll outsourcing services are especially useful for newly established businesses, or businesses that are looking for costs effective solutions of having a competitive edge by engaging a professional team to ensure compliance with regulatory requirements.

We provide professional advice on the extensive types of employment in Singapore and we are here to assist clients in the application for employment passes for foreigners working in Singapore. Passes include Employment Pass (also known as EP), Special Pass (also known as SP), Work Permits (also known as WP), and so forth, each with their own respective criteria. At the same time, it is also imperative to adhere to the Workman Compensation Act in Singapore and the Ministry of Manpower for which we will also assist our clients with the appropriate insurance policies so as to fulfill the requirements of the statutory.

KJ Advisory provides dedicated payroll services in compliance with the Singapore Employment Act. Our payroll services include salary, overtime, commission, bonus and Central Provident Fund calculations, arranging payments for employees’ salaries, CPF submissions, completion of Forms IR8A and IR21 for submission to Inland Revenue Authority of Singapore, issue mandatory itemized payslips to your employees. Further services in relation to payroll include assisting our clients in submitting claims to the various government departments for NS man reservist, maternity leave, employee ’s child care leave, and so forth. We are also happy to assist our clients in facilitating investigations/queries from relevant government departments.

KJ Advisory provides professional services in the closing (or strike off) of local companies, working alongside with Accounting and Corporate Regulatory Authority (ACRA), Inland Revenue Authority of Singapore (IRAS), and other relevant government agencies.

Upon receiving approval of a strike-off, a Striking Off Notice will be sent to the company at its registered office address, to its directors at their residential addresses and to the IRAS, within 14 days of the receipt of the strike-off application.

A period of one month will be given in the Striking Off Notice to anyone that may wish to raise any objection to the application. Once the period has expired, a notification of the intention to strike off this company off the register in 60 days’ time will be made in the Government Gazette.

Any interested person can still raise an objection to the application during this 60 days period. After the 60 days have expired, a final notification will be made stating that the company has been struck off the register. The date that the company is struck-off will also be stated in the final notification. The entire Company striking off process, therefore, takes about four months.

Get in touch with us today for any queries regarding striking off your company.

We perform and can assist you a 100% for incorporating your company in Singapore. Services you may need will include:
Bank Account Opening Documents (E.g. Constitution for your business, BizFile)
Government Incorporation Fees Registration with Accounting and Corporate Regulatory Authority (ACRA) by payment of ACRA fees
Checking of company name availability and reservation of desired name
Company Profile/Company Constitution (M&AA)
Preparation of Singapore incorporation documents such as M&AA, Form 45, Form 45B, etc
Company profile/extract from ACRA with Unique Entity Number (UEN)
Electronic Certificate of Incorporation
Minutes of first board meeting Share certificate(s)
Monitoring Email Reminders for Government Filing Deadlines
Advisory for Tax and GST calculation and submission
Our package for the incorporation of the company is specially priced to keep us competitive and not compromising our quality of works. Talk to us and let's get things started.

All Goods and Services Tax (GST) registered companies are to adhere to GST rules and regulations in order to avoid penalties for non-compliance. GST is a consumption tax levied on the import of goods (collected by Singapore Customs), and nearly all supplies of goods and services in Singapore. In other countries, GST is known as the Value-Added Tax or VAT.

Should your taxable turnover exceeds SGD$1million, it is compulsory to register your business for GST. However, you may still choose to register your business for GST voluntarily if your business does not exceed SGD$1 million in taxable turnover.

Our professional team assist our clients in GST registrations and de-registrations. Here at KJ Advisory, we shall prepare and submit GST returns on your behalf to IRAS in compliance with Singapore GST Act. We shall also review the compliance data and GST returns for you, advise you on any special and complicated transactions that may require GST reporting, and liaise with the Tax Authority on your behalf.

We as your qualified accountant will guide you in reviewing invoicing requirements and assist you in your queries pertaining to GST audits by the tax authority.

Companies in Singapore are exempted from having its accounts audited if it is an Exempt Private Company with annual revenue of $5 million or less. Notably, a company no longer needs to be an exempt private company to be exempted from audit. Such companies are required to prepare unaudited financial reports yearly.

All other companies that are not exempted are required to appoint an auditor within three months of incorporation and be prepared to submit audited financial reports to ACRA. The accounts must be audited annually.

KJ Advisory provides full account services, including the preparation of unaudited financial reports for exempt companies. We also work closely with our associated audit partners in providing auditing services of financial statements in compliance with ACRA’s and IRAS’s statutory requirements.

All companies incorporated in Singapore (unless exempted) are all required to file their financial statements with ACRA.

Companies are required to file a full set of financial statements in XBRL format, according to a Minimum Requirement List within the new ACRA Taxonomy 2013 (i.e. Full XBRL). Whether the company is solvent or insolvent, its position will determine the needs to file Financial Statement with ACRA. Solvent exempt private companies will continue to be exempted from filing their Financial Statements while insolvent exempt private companies will have the following options to file their financial statements with ACRA:

A full set of financial statements in XBRL format; or
A full set of financial statements in PDF with Financial Statements Highlights in XBRL format.
Our clients leave the XBRL filing procedure to us due to its time-consuming nature, which involves studying of the system, selection of disclosures, inputting the data, and tallying of information. Be rest assured and leave this hard work to us, we are an expert in this field.

There are situations when a company decides to slow the business down during its downtime and wishes to sustain the company at its minimal cost, giving the company the option to recommence businesses whenever ready.

Inland Revenue Authority of Singapore (IRAS) and Accounting and Corporate Regulatory Authority (ACRA) each has its own definition for Dormancy.

IRAS’ definition as a Dormant Company

A dormant company is one that does not carry on business and had no income for the whole of the basis period even though may have expenses booked. For example, if a company did not carry on business and had no income for the whole of the basis period ending in the year 2019, it will be regarded as a dormant company for Year of Assessment (YA) 2020. Dormant companies may have incurred expenses.


A dormant company must submit its Income Tax Return unless the company has been granted a waiver of Income Tax Return submission.

ACRA’s definition as a Dormant company

In accordance with the Companies Act, a company is regarded as dormant when there is no accounting transaction during that financial year. The Companies Act also states the transactions which will are to be disregarded when determining dormancy:

the taking of shares in the company by a subscriber to the memorandum in pursuance of an undertaking of his in the memorandum;
the appointment of a secretary of the company;
the appointment of an auditor;
the maintenance of a registered office;
the keeping of registers and books;
the payment of any fee and charges payable under a written law;
the payment of any composition amount payable under a written law;
A dormant company may still be required to submit its financial statements to the Accounting and Corporate Regulatory Authority (ACRA) for its annual return filing.

Income tax rates in Singapore is dependent on an individual's tax residency status i.e. resident and non-resident. Income tax in Singapore is assessed on preceding-year.

Resident

Income tax rates for resident taxpayers are progressive
Taxed on the income earned in Singapore No capital gains taxed i.e. gains from the sale of a property, shares and financial instruments in Singapore. Unless an individual buys and sells property with a profit-seeking motive, subject to a few criteria, may be taxable.
Payouts from insurance policies are also not taxable as they are capital receipts. Gains from Sale of Shares and Financial Instruments are not taxable
Various reliefs are available as deductions for individuals, i.e. donations, rental expenses as so forth
Non-resident
Income tax rates for non-resident differ between taxes on employment and taxes on the director’s fee, consultation fee, and so forth. These rates are subject to changes.
Leave your tax matters to us, we are an expert in this field.

Withholding tax is imposed by IRAS for certain payments made to non-resident companies or individuals in Singapore. The payer is required to withhold a defined percentage of that amount for payment to IRAS as withholding tax. Tax rates vary accordingly to the nature of such payment.

These specified payments include income sourced in Singapore and are made to the company is either a tax resident or a non-resident of Singapore. In Singapore, the tax residency of a company is determined by the place in which the business is controlled and managed.

It is the responsibility of the employer of foreign employees who plans to leave Singapore for more than three months to file Form IR21. Form IR21 is a tax clearance to IRAS where employers to notify IRAS at least one month prior to foreign employees’ departure, withhold all monies due to such employee for tax clearance purposes. This is applicable to all work pass holders, not limiting to Personalised Employment Pass (PEP) holders.

If tax clearance is required for your employee, you must file the Form IR21 at least one month before:

The employee ceases to work for you in Singapore;
The employee starts an overseas posting; or
The employee leaves Singapore for any period exceeding three months.
Employers do not have to submit their employee's employment income via the Form IR8A or Auto-Inclusion Scheme (AIS) if Form IR21 has already been filed.

All companies in Singapore must have at least one director who is locally resident in Singapore. Being the local director, he must be either a Singapore Citizen, Singapore Permanent Resident, an EntrePass holder, or an Employment Pass holder issued with such work pass in the company concerned and having a local residential address. A sole director cannot act as a company secretary.

We provide professional nominee director services which can help you fill this requirement. Our competent nominee directors offer good working qualities to resume the same responsibilities and obligations as a regular director.

You may wish to close the company for various reasons. One of the options available is to strike off the name of the company from the register.

ACRA may approve the application if it has reasonable cause to believe that the company is not carrying on business and the company is able to satisfy the following criteria for striking off.

The company has not commenced business since incorporation or has ceased trading.
The company has no outstanding debts owed to Inland Revenue Authority of Singapore (IRAS), Central Provident Fund (CPF) Board and any other government agency.
There are no outstanding charges in the charge register.
The company is not involved in any legal proceedings (within or outside Singapore).
The company is not subject to any ongoing or pending regulatory action or disciplinary proceeding.
The company has no existing assets and liabilities as at the date of application and no contingent assets and liabilities that may arise in the future.
All/majority of the director(s) authorize you, as the applicant, to submit the online application for striking off on behalf of the company.

As one of the guidelines outlined in the Companies Act, a registered address must be provided when registering your business with ACRA. A registered office address refers to the place where all communications and notices to the company may be addressed, and the place where the company’s register and records are kept. The registered address must be operational and accessible to the public during normal office hours.

Our prestigious registered address package includes:

Prestigious address lodged with ACRA
Receive your letters, mails and registered parcels on your behalf
Reflect our provided address on your business cards
Open for self-collection of your mails during our office hours
All mails received will be scanned and sent to your email in PDF soft copy format on a bi-weekly basis