If you are currently searching for an “accounting firm in Singapore,” you are likely one of the thousands of directors facing the December year-end close.

As we move into the Year of Assessment (YA) 2026 (covering income earned in 2025), the role of your accountant has shifted. It is no longer just about “doing the books”—it is about navigating new IRAS enforcement data and maximizing the generous tax rebates currently available.

Here are the three critical updates you must discuss with your accounting partner before your March 31st ECI deadline.

1. The S$40,000 CIT Rebate: Don’t Leave Money on the Table

To help businesses manage rising costs, the government has extended the Corporate Income Tax (CIT) Rebate for YA 2026.

  • The Benefit: A 50% rebate on tax payable, capped at S$40,000.
  • The Cash Hook: For companies that employed at least one local employee in 2024/2025, there is a minimum benefit of S$2,000 in the form of a cash grant.
  • Why Professionals Matter: A professional Accounting Firm will ensure your accounts are optimized to fully utilize this rebate while correctly managing your capital allowances (CA) and loss carry-backs.

2. The New S$2M Transfer Pricing “Trap”

Starting in 2026, the threshold for mandatory Transfer Pricing Documentation (TPD) is becoming a major focus for IRAS.

  • The Rule: If your related-party transactions (loans, sales, or services to a parent company or subsidiary) exceed certain thresholds, you are now legally required to maintain contemporaneous TPD.
  • The Risk: IRAS is now strictly enforcing a 5% surcharge on any transfer pricing adjustments made during an audit.
  • The Opportunity: If your business is scaling and your revenue has just crossed the S$2M or S$10 million mark, your accounting firm must verify if you are “audit-ready” before you file your YA 2026 tax return.

3. Data-Driven IRAS Audits: The CIT vs. GST Cross-Check

In 2026, IRAS is using enhanced data analytics to flag discrepancies between your different tax filings.

As a leading Tax and Compliance partner, we have observed IRAS frequently cross-referencing:

  1. Reported Revenue in CIT vs. GST: If your corporate tax revenue exceeds S$1 million but you aren’t GST-registered, an automated audit trigger is likely.
  2. Withholding Tax (WHT) Discrepancies: Mismatches between your declared “Professional Fees” in your tax return and your actual WHT filings.

A professional accounting firm doesn’t just file your returns; they perform a “pre-audit” to ensure all your numbers are consistent across the IRAS system.

Infographic timeline showing the Singapore year-end accounting and tax checklist for YA 2026, including the book closure phase, the March 31st ECI filing deadline, the S$40k CIT rebate, and the S$2M transfer pricing threshold review.

4. Why Outsource Your 2025 Year-End Close to Excellence SG?

Choosing an accounting firm in Singapore is a strategic decision. At Excellence Singapore, we provide more than just bookkeeping:

  • Grant Readiness: We ensure your financial statements meet the 30% local shareholding and financial health criteria required for MRA and EDG grants.
  • Forward-Looking Tax Planning: We help you maximize the Enterprise Innovation Scheme (EIS), which offers a 400% tax deduction on qualifying R&D and training.
  • Clean Compliance History: We prevent the late filing penalties and “Director Summons” that can occur with DIY or low-cost accounting.

Conclusion: Start Your 2026 Tax Season Early

The three months following your financial year-end are the most critical. By engaging a professional accounting firm now, you ensure your ECI filing is accurate and your cash flow is protected by the full S$40,000 CIT rebate.

Need help closing your 2025 books? Contact Excellence Singapore for a Professional Year-End Accounting & Tax Quote.