Corporate & Personal Tax Services in Singapore
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Corporate & Personal Tax Compliance
Why Choose Us For Tax Advisory Services
Local Specialists
Accurate Filings & Returns
Professional Tax Advisory
Why Do You Need Professional Tax Services in Singapore?
Engaging professional tax services in Singapore offers numerous advantages for businesses, including:
- Minimised Tax Liabilities: Expert tax advisors can help identify and leverage legal deductions and incentives to reduce your tax burden.
- Guaranteed Compliance: Stay compliant with constantly evolving tax laws and regulations, avoiding penalties.
- Time Savings: Free up valuable time by outsourcing complex tax filings and reporting.
- Strategic Tax Planning: Receive proactive advice to optimise your tax position for future growth and profitability.
- Error Reduction: Tax consultants have the expertise to identify potential pitfalls, avoid misinterpretations of regulations, and ensure accurate filing.
- Peace of Mind: Focus on your core business, knowing your tax matters are handled expertly.
Tax Compliance Services
Corporate Tax and Personal Income Tax
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.
Who We Can Help with Corporate and Personal Tax
Businesses Established in Singapore
Businesses Expanding their Operations to Singapore
Expats Residing in Singapore
Meet Our Tax Advisor at Singapore Corporate Services
Summer Chong
Corporate & Personal Tax Compliance
With a career spanning over 10 years, Summer Chong has built a reputation as a trusted tax consultant in Singapore. Her expertise lies in both corporate and personal tax compliance, with an in-depth knowledge of the Singapore Income Tax Act and ever-changing IRAS regulations.Â
Summer has worked across various industries, including retail, food and beverage, manufacturing, and shipping, offering practical, tailored solutions to clients ranging from SMEs to expatriates. Her commitment to understanding her clients’ unique challenges makes her a sought-after advisor for those seeking both compliance and strategic tax planning.
Not Sure Where to Begin?
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. On the other hand, companies active in real estate 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 three YAs, can I continue to claim the tax exemption in subsequent YAs?
No. The tax exemption is available only for the first three 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 three 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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