Accounts that satisfy the regulator and still inform the board.
Meridium sets up and runs the finance function for Singapore entities of foreign groups: books that close on time, management reports the board actually reads, statements that satisfy ACRA and IRAS, and a tax calendar that never produces surprises.
Built for foreign-owned entities
The accounting needs of a Singapore subsidiary are shaped by two masters: local compliance, which is unforgiving about deadlines and formats, and a head office, which wants numbers it can consolidate without translation. We serve both. The ledger is kept to Singapore requirements, and the reporting layer speaks your group’s language, whether that means a mapping to your ERP’s chart of accounts or management packs in your group template.
The compliance calendar
Singapore’s corporate reporting cycle is predictable, which means missing it is avoidable. Estimated Chargeable Income is due within three months of financial year end. The Corporate Income Tax return follows. Financial statements must be prepared, and for most companies filed in XBRL with the annual return. GST-registered businesses file returns for each accounting period. Each obligation sits on a calendar owned by your named contact, alongside the corporate secretarial deadlines, so the entity is managed as one whole rather than three vendors’ fragments.
Reporting that earns its keep
Compliance output is table stakes. The management reporting is where accounting pays for itself: a monthly or quarterly pack that shows cash, burn, receivables and the handful of numbers your board actually steers by, with commentary that flags what changed and why. We would rather send you three pages you read than thirty you do not.
What's included
- Chart of accounts designed for your group's reporting, not a template
- Accounting software suited to Singapore compliance, or work directly in your existing ERP
- Monthly, quarterly or annual management reporting at the cadence you choose
- Unaudited financial statements and XBRL filing
- Estimated Chargeable Income (ECI) and Corporate Income Tax filing
- GST registration, and periodic GST filing once registered
- Withholding tax assessment and filing on cross-border payments
- Individual income tax filing for founders and assignees
How it works
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Setup or takeover
We design the chart of accounts, connect bank feeds, and either implement software suited to Singapore compliance or map our work into your group ERP.
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Steady-state bookkeeping
Transactions are processed on an agreed rhythm, supported by a document flow that does not depend on chasing you for paper.
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Reporting
Management accounts arrive on schedule, in your group format where you have one, with the anomalies flagged rather than buried.
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Year end and tax
Financial statements, XBRL where required, ECI within three months of year end, and the Corporate Income Tax return, all prepared and filed against a calendar you can see.
What we need from you
- Read access to bank statements, or bank feeds connected to the ledger
- Sales and purchase records, contracts and expense documentation as they arise
- Your group reporting format and deadlines, if consolidation matters to you
- Prior year financial statements and tax filings, when we take over an existing entity
Common questions
Does my company need an audit?
Many subsidiaries of foreign groups do not. A company qualifies for audit exemption as a small company if it meets at least two of three criteria relating to revenue, assets and employees, subject to group-level tests. We assess this at scoping and tell you plainly which side of the line you fall.
When must the company register for GST?
Registration becomes compulsory once taxable turnover crosses the registration threshold set by IRAS, and voluntary registration can make sense earlier for some business models. We monitor your position and handle registration and the periodic filings when the time comes.
What is XBRL and does it apply to us?
XBRL is the structured data format in which most Singapore companies file their financial statements with ACRA. Whether a full set or a simplified set applies depends on the company's size and status. Preparing it is part of our year-end work, not an extra project for you.
Can you work in our group's ERP instead of local software?
Yes. Where your group runs NetSuite, SAP, Xero or another system, we work directly in it under your access controls, and add only what Singapore compliance requires. Where you have no system, we implement one suited to local filing requirements.
What is withholding tax and when does it bite?
Certain payments to non-residents, such as interest, royalties and some service fees, require the Singapore payer to withhold tax and account for it to IRAS. It is easy to miss because the obligation sits with the payer. We review your cross-border payment flows so it is identified before the payment is made, not after.
Do you handle the founders' personal tax as well?
Yes. Individual income tax filing for founders and assignees is part of the service, coordinated with payroll so employment income, benefits and equity are reported consistently.
Discuss accounting and tax with a senior adviser.
A scoping call costs nothing and commits you to nothing. You will speak with a senior practitioner, not a sales team.