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Friendly and transparent business environment

Accounting & Bookkeeping services

Singapore companies are required to maintain proper bookkeeping records and accounting documents in accordance with the Singapore Financial Reporting Standards (SFRS)

Our dedicated accounting team will assist in preparing full sets of management accounts through our accounting software system Accounting fee is calculated based on the number of transactions

Bookkeeping

Amount (Transactions) Fee
Below 30 US$ 650
30 to 59 US$ 750
60 to 99 US$ 1,050
100 to 119 US$ 1,210
120 to 199 US$ 1,450
200 to 249 US$ 1,520
250 to 349 US$ 2,025
350 to 449 US$ 2,830
450 and above To be confirmed
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Financial Statement Compilation Services

Compilation report by a professional firm will ensure all due diligence and fulfill all required technical competence
Companies that are exempt from audit and filing requirement are still required to prepare a full set of financial statements including notes to the accounts and must be accompanied by the Directors’ Statement
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XBRL Services

  • XBRL (eXtensible Business Reporting Language) is a reporting format which allows the system to read and analyse relevant financial data
  • Most companies would be required to file their financial statements in XBRL via new BizFinx system
  • We will assist in converting soft-copy financial statements into XBRL format as well as resolving genuine and possible errors detected by BizFinx system
Services fee of Financial Statement Compilation and XBRL Services
from US$ 495
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Singapore Auditing Services

ACRA does not require small private companies to submit audited financial statements if they meet two of the three following criteria:
Total annual revenue from the past fiscal year is less than S$10 million Total assets from the past fiscal year are less than S$10 million Total employees in the past fiscal year are fewer than 50
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FAQs

Once a company has been granted a waiver from a specific date, the company will not be issued with Form C-S/ C from that date onwards.
As such, a company whose waiver application had been approved will not need to submit the application form on a yearly basis to IRAS.
An AGM is a mandatory annual meeting of shareholders. At the AGM, your company will present its financial statements (also known as “accounts”) before the shareholders (also known as “members”) so that they can raise any queries regarding the financial position of the company.
You can still e-File the ECI if no assessment for the YA has been issued to your company. However, you cannot pay by instalment. Instalments are only granted by IRAS when a company files its ECI within three months after its financial year end and is on GIRO.
All companies incorporated in Singapore which are either limited or unlimited by shares (except exempted companies) are required to file their full set of financial statements in XBRL format according to the recent guidelines released by ACRA (Accounting and Corporate Regulatory Authority) Singapore June 2013.
You do not need to file an ECI for your company if it is nil and if your company meets the following annual revenue threshold for the Waiver to File ECI: Annual revenue not exceeding $5 million for companies with financial years ending in or after Jul 2017.
XBRL is an acronym for eXtensible Business Reporting Language. Financial information is converted to XBRL format then, sent to and fro between business entities. Singapore government has mandated it for each Singapore company to file its financial statements only in XBRL format. The analysis of the data, thus, accumulated gives accurate information about the trends in finance.
Remuneration or revenue received in the form of virtual currencies (such as Bitcoins) is subject to normal income tax rules. The receipt will be taxable if it is revenue in nature, and non-taxable if it is capital in nature
The financial year end (FYE) of Singapore is the end of the fiscal accounting period of a company which is up to 12 months.
Generally, a private limited company is required under the Companies Act (“CA”) to hold its AGM once in every calendar year and not more than 15 months (18 months for a new company from the date of its incorporation).
Financial statements no more than 6 months old must be laid at the AGM (section 201 CA) for Private limited companies.

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Welcome to
MULTISTREAM INTERNATIONAL

We are a marketing arm for top-tier Asset Managers, Financial Brokers, CPA’s and Banking Industry Professionals with real qualifications and proven track records. We also act as a Mandate or Facilitator, introducing Real Buyers to Real Sellers and arrange contracts for the supply of a variety of commodities or sought-after goods and services between both parties in top performing industries. We provide our clients with efficient access to markets and tailored financial solutions to help manage risk and enhance overall profitability.
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Corporate One, Level 15
2 Corporate Court, Bundall 4217
Queensland, Australia
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