How Much Do Accounting, XBRL Financial Statements and Corporate Tax Filing Cost in Singapore?

Short answer: For a small Singapore company with simple records, a full year of accounting and tax compliance at Raffles Corporate Services starts at about S$3,550: bookkeeping at S$700 a quarter, unaudited financial statements in simplified XBRL at S$400 and Form C-S filing from S$350. Higher transaction volumes, GST registration and Form C push the cost up.

Raffles Corporate Services works with a panel of experienced Singapore law firms who offer cost-effective and efficient legal service and advice. This article is general information only and is not legal advice.

What does a Singapore company have to pay for each year on the accounting side?

Every company needs four things done each year: books kept, financial statements prepared, the financial statements filed with ACRA (usually in XBRL), and a corporate tax return filed with IRAS. GST-registered companies add quarterly GST returns.

The obligations come from statute. Section 199 of the Companies Act 1967 requires proper accounting records, kept for at least five years. Directors must present financial statements, and those statements are filed with the annual return under Section 197 of the Companies Act 1967. On the tax side, IRAS requires an Estimated Chargeable Income (ECI) filing, where applicable, and an annual Form C-S, Form C-S (Lite) or Form C.

Most small private companies are exempt from audit under the small company concept, which requires at least two of three criteria for the past two financial years: revenue of S$10 million or less, total assets of S$10 million or less, and 50 or fewer employees. This article assumes the company is audit exempt, so it needs unaudited financial statements rather than an audit.

How much does bookkeeping cost, and what decides the tier?

Bookkeeping is priced mainly by transaction volume, the number of bank accounts and the number of currencies. At Raffles Corporate Services, a transaction is one line on a bank or credit card statement.

Both Starter and Standard include bank reconciliation, a quarterly profit and loss statement and balance sheet, and setup and onboarding, in a single currency. Two adjustments apply:

• GST-registered companies add from S$300 a quarter.
• Multi-currency books carry a 25% uplift.

Counting rules matter. A payroll run counts as one transaction, and a transfer between the company’s own accounts counts as one transaction, not two. If you are unsure whether your volume justifies outsourcing at all, see when to move from DIY bookkeeping to professional accounting support.

How much do unaudited financial statements and XBRL cost?

Preparing unaudited financial statements starts from S$550 for existing clients. If ACRA requires XBRL, Raffles Corporate Services prices the financial statements and the XBRL file together, from S$400 for simplified XBRL.

Simplified or full XBRL: which one applies?

According to ACRA’s filing requirements and exemptions, smaller and non-publicly accountable companies file simplified XBRL financial statements plus a PDF copy. A smaller company is one whose revenue and total assets for the current financial year both do not exceed S$500,000. Other companies required to file generally use the full XBRL template. The simplified template has about 120 data elements; the full template has about 210, which is why it costs more to prepare.

Two groups do not file financial statements at all: dormant relevant companies meeting Section 201A, and solvent exempt private companies (fewer than 20 members, no corporate shareholders, and solvent), which may file voluntarily. Our article on filing financial statements in XBRL explains the templates and common validation errors.

How much does corporate tax filing cost?

Corporate tax filing at Raffles Corporate Services starts from S$350 for Form C-S or Form C-S (Lite), and from S$700 for Form C. Both prices include the ECI filing for the same financial period where one is needed.

Form C costs more because it needs a comprehensive tax computation and the financial statements must be submitted with it. With Form C-S and Form C-S (Lite), IRAS does not require the financial statements and tax computation to be submitted, but the company must still prepare them and produce them on request. A tax computation is therefore always part of the work. At Raffles Corporate Services, the computation is sent to you for endorsement before filing, and the company appoints Raffles Corporate Services Pte Ltd as its corporate tax filing agent. Our guide to choosing between Form C, Form C-S and Form C-S (Lite) covers the eligibility tests in more depth.

Why is ECI bundled with the tax return?

IRAS requires ECI to be filed within three months of the financial year end, unless the company’s revenue is S$5 million or below and its ECI is nil (IRAS ECI filing guidance). The figures behind the ECI are the same figures used for the tax return, so Raffles Corporate Services prepares them together and no longer offers ECI as a sole service.

How much does GST compliance add?

If the company is GST-registered, budget for four quarterly GST returns. For a Raffles Corporate Services bookkeeping client, GST work is an add-on from S$300 a quarter, or from S$1,200 a year.

Registration is compulsory once taxable turnover exceeds S$1 million, looking back over the calendar year or forward over the next 12 months. Voluntary registration is possible, but it brings the same filing burden. GST returns are due one month after the end of each accounting period. Related fees at Raffles Corporate Services are:

• GST registration: S$300 (existing clients) or S$400 (non-clients).
• Standalone GST filing: listed at S$450 (existing clients) or S$550 (non-clients).
• GST add-on for bookkeeping clients: from S$300 a quarter.

What does a full year cost? Two worked examples

The two examples below add up Raffles Corporate Services’ published prices for one financial year. Both assume an audit-exempt private company that is an existing client, in a single currency.

These totals exclude the corporate secretarial package and any tax payable. Prices marked “from” can rise with complexity, for example with fixed assets, related-party balances or prior-year clean-up.

1. Count your monthly bank and card statement lines to pick a bookkeeping tier.
2. Check your revenue and total assets against the S$500,000 test to see whether simplified XBRL applies.
3. Check your revenue and tax position against the Form C-S and Form C-S (Lite) criteria.
4. Add the GST add-on if you are, or will soon be, GST-registered.

Frequently asked questions

Do I need an audit if my company is small?

Usually not. A private company qualifies as a small company if it meets at least two of three criteria (revenue up to S$10 million, total assets up to S$10 million, 50 or fewer employees) for the past two financial years, or in the current year if it is less than two years old. Group rules apply if it is part of a group.

Is the S$400 XBRL fee in addition to the financial statements fee?

No. The XBRL price includes the set of financial statements and the XBRL file uploaded to BizFinx, so you do not pay the separate financial statements fee as well.

What counts as a transaction for bookkeeping?

One line on a bank or credit card statement. Each payroll run counts as one transaction, and a transfer between the company’s own accounts counts as one.

Can I file ECI without the tax return?

Raffles Corporate Services files ECI together with the corporate tax return for the same financial period, because both rely on the same calculations. It ceased offering ECI as a sole service from 1 December 2023.

When is the corporate tax return due?

Form C-S, Form C-S (Lite) and Form C must be filed by 30 November each year. Missing the deadline can lead to composition or a summons from IRAS.

Last reviewed: 4 October 2026. The Editorial Team, Raffles Corporate Services.