Corporate & Personal Tax Services in Singapore
Our Singapore-based professional tax advisors are committed to ensuring your compliance with tax regulations and maintaining the accuracy and timeliness of your filings to keep your business in good standing.
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Corporate & Personal Tax Compliance
Why Choose Us For Tax Advisory Services
Local Specialists
Equipped with local knowledge and insights, we have a team of tax advisors adept at navigating the complexities and challenges of the local regulatory landscape.
Accurate Filings & Returns
Avoid penalties and late fees. Our tax consultants can ensure precise and punctual tax return filing, alleviating compliance-related stress for smooth business operation penalties and late fees.
Professional Tax Advisory
Tax Compliance Services
Corporate Tax and Personal Income Tax
Our tax compliance services offer expert guidance on navigating complex tax regulations, ensuring compliance and efficient financial management for your business in Singapore. By working closely with our seasoned tax advisors, you can minimise tax liabilities and maximise savings, strengthening your organisation's financial position.
Corporate Tax
Corporate Tax Compliance
- Preparing and filing Estimated Chargeable Income (ECI).
- Preparing and submitting Corporate Annual Income Tax Returns (Form C / Form C-S / Form C-S Lite / Form C for dormant companies) and providing advice on applicable tax incentives when preparing tax computations.
- Verifying assessments issued by IRAS.
- Lodging objections and submitting appeals.
- Applying for a waiver to exempt the submission of Income Tax Returns for dormant or struck-off companies.
- Assisting with Withholding Tax compliance, including applying for a Certificate of Residence.
- Addressing Corporate Tax investigations and responding to queries raised by the Inland Revenue Authority of Singapore (IRAS).
- Providing ad-hoc advisory services on Corporate Tax treatment.
Goods and Services Tax (GST)
- GST registration on a compulsory or voluntary basis.
- Review and submission of quarterly GST returns (Form 5).
- Perform a reassessment of past GST filings and, if necessary, initiate a revision of the return (Form 7).
- Addressing GST investigations and responding to queries raised by the Inland Revenue Authority of Singapore (IRAS).
- Providing ad-hoc advisory services on GST treatment.
Personal Tax
Personal Tax Compliance
- Preparing and filing your Annual Tax Return (Form B / Form B1 / Form M), including the application of relevant tax reliefs.
- Verifying assessments issued by the IRAS and lodging objections or appeals, if required.
- Developing and structuring remuneration packages to enhance tax efficiencies for expatriate employees.
- Obtaining tax clearance upon the termination of employment in Singapore.
- Providing ad-hoc advisory and tax planning for Personal Tax matters.
FAQ
Frequently Asked Questions About Tax Services in Singapore
Why are investment holding companies and companies who undertake property development not eligible for the tax exemption scheme for new start-up companies?
Investment holding entities focus primarily on generating passive incomes such as dividends and interest income. Companies active in real estate, on the other hand, typically incorporate a new company for each venture in property development.
The purpose of the start-up tax exemption was to bolster entrepreneurship and hence, not intended for such companies. Nevertheless, corporate service providers that offer tax services and business incorporation services can guide these companies through eligibility for partial exemptions, ensuring they navigate tax implications efficiently.
How do companies limited by guarantee meet the condition on share capital for the tax exemption scheme for new start-up companies?
For companies limited by guarantee, the mentioned condition will apply to their membership instead. Such companies must have members who meet either of the following conditions:
- All of whom are individuals throughout the basis period for that Year of Assessment (YA) that align with the tax services framework in Singapore for exemptions.
- At least one of whom is an individual throughout the basis period for that YA, and the contribution of that individual under the memorandum of association of the company to the assets of the company in the event of it being wound up amounts to at least 10% of the total contributions of the members of the company throughout the basis period for that YA.
Tax advisors can assist companies in understanding how these conditions affect their eligibility. This is especially important in scenarios involving personal contributions to the company's assets upon winding up, reflecting a direct impact on income and corporate tax considerations.
If my company does not claim the tax exemption for new start-up companies in any of the first 3 YAs, can I continue to claim the tax exemption in subsequent YAs?
No. The tax exemption is available only for the first 3 consecutive YAs (Years of Assessment). If your company incurs losses or has no income (e.g. business has not commenced) during any of these years, the tax exemption scheme for new start-up companies is not applicable to your company for that particular YA. This is because your chargeable income and tax payable are nil. However, that YA will still count as one of the first 3 consecutive YAs when determining your company’s eligibility for the start-up tax exemption.
This underscores the importance of strategic planning with tax advisors in Singapore to navigate the intricate landscape of income tax and corporate tax, ensuring optimal benefits utilisation.
Can my company defer the claim for unutilised tax losses brought forward to maximise the benefit given under the tax exemption scheme for new start-up companies?
No. The company must first set off the unutilised tax losses brought forward against the current year's adjusted profit unless it does not meet the qualifying conditions for set-off. This regulation highlights the critical role of personal income tax services in advising companies on managing their tax positions and leveraging exemptions effectively within the stipulated framework.
Can my company defer the claim for capital allowance to maximise the benefit given under the tax exemption scheme for new start-up companies?
Yes. Your company can defer the claim for capital allowance.
I am not GST-registered. Can I claim GST incurred on my business purchases?
No, if you are not a GST-registered business, you cannot claim the GST incurred on your purchases.
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