As regards to corporate tax, our services cover the following:
- Corporate tax computation and filing
- Preparation of tax forms for corporate submission
- Preparing Director’s Report
- Preparation of forms C-S/ C for submission
- Corporate tax residency and reliefs
- Payment and refund of Corporate tax
- Employers and employees obligations
- Indirect tax service
- Tax compliance: IRAS enforcement actions on non-filing and late payments, penalties for negligence and evasion
Engage us for corporate taxation matters in Singapore to reap these benefits:
One of the most important attractions for Singapore company incorporation is Singapore’s territorial tax system, which means that tax is imposed on all income accrued in or derived from Singapore, as well as on all foreign-sourced income remitted to Singapore, with certain qualifying exemptions (dividends, branch profits, service income). There are no capital gains tax or withholding tax on dividends in Singapore. Furthermore, there are no capital duty, capital acquisitions tax, inheritance or estate tax, or even net worth/wealth tax in the city-state. With domain knowledge on all this, we can help you navigate Singapore tax system regardless of the type of business you deal in.
Learn all about corporate tax in Singapore, including the territorial tax system, advance rulings and lack of forex transaction restrictions.
Calculating Taxable Income correctly
The corporate income tax rate in Singapore is 17 percent, which is calculated on the basis of the company’s chargeable income i.e. taxable revenues less allowable expenses and other allowances. Though the rate itself is one of the lowest in the world, the effective tax payable works out to be even lower if a company takes advantage of all the government incentives, subsidies and schemes. We can help you calculating taxable income correctly in order to gain these benefits.
Help with Advance Ruling on Taxation
Advance rulings on taxation are possible too, while generally, a Singapore company is taxed on the income earned in the preceding financial year. We can give you clarity on how these work and what you need to do.
Help with filing all the tax forms
Whether you need to fill either of forms C-S, C or others depends on your circumstances and the reliefs you are claiming. We’ll guide you through this and get your taxes filed correctly and on time.
Managing foreign exchange transactions
Foreign exchange transactions and capital movements are not heavily restricted in Singapore. Thus, funds can enter or leave the Republic freely. However, the government does put in place certain restrictions on the loaning of Singapore dollars (SGD) to non-resident financial organizations. That being said, the lending of local currency to individuals and non-financial organizations (e.g., corporate treasury centres) are exempt from these restrictions.
If you want help with any of the above, we are best placed to do so. Our reputation as one of the leading Singapore tax agents and corporate services provider is unmatched. With our domain expertise, you can expect to optimise your corporate taxation.
Get in touch with us at Singapore Tax Accounting Services to discuss how we can help.
File your corporate tax correctly and on time with our help
Leave no stone unturned when it comes to filing your corporate tax. You can count on us to guide you through every step.