Quality Service Beyond Expectations
How Can We Help?
We are a medium-sized firm of Chartered Accountants (CA) in practice for nearly 50 years. We are dedicated to looking after the needs of multinational corporations and high growth small and medium-sized businesses and individual taxpayers. We offer a full range of auditing, accountancy, taxation, corporate secretarial and business advisory services and give a service which is professional, personalised, friendly and value-for-money.
Heng Lee Seng LLP and our tax practice HLS Tax Advisory Services Pte Ltd are the Singapore affiliates of the following international accounting and tax organizations:
Through our global affiliations, we can provide our clients with resources that are typically available only from a large international organization, but with the personal service and attractive cost structure of a local firm.
We have been working with HLS for accounting and tax matters for more than a decade and they have not only provided outstanding services and support but also a great deal of local business knowledge which was crucial to our success.
Thomas Nauer, CEO – Solis of Switzerland Ag
The 2022 Singapore budget statement was delivered by the Minister of Finance, Mr Lawrence Wong on 18 February 2022, with the theme of charting a new way forward together. Enhancements were made with a view to building a fairer and more resilient tax system. These...
Missing Trader Fraud (“MTF”) MTF is a fraud scheme used by crime syndicates to defraud tax authorities of GST. Effective from 1.1.2021, a GST registered trader will not be allowed to claim GST input tax on supplies made to him which he knew or should have known are...
Extension of Job Support Scheme (JSS) Firms in Tier 1 (Aviation, Aerospace, etc.) and 2 (Food Services, Retail, Marine and Offshore, etc) sectors will have the support of JSS covering wages paid up to September 2021. As JSS grants are tax exempt, businesses would do...
Under FRS 109, impairment allowance on trade receivables would be measured as follows: Only impairment losses recognised in the profit and loss account (“P&L”) in respect of credit-impaired financial instruments on revenue account (such as trade receivables) are...
With recent amendments to the Singapore Companies Act – The Companies (Amendment) Act 2014, a significant number of companies that previously required an audit will no longer need to do so.