All companies in Singapore have tax implications and are required to submit their income tax returns together with their financial report to the Inland Revenue Authority of Singapore (“IRAS”) by the 30th of November in the subsequent calendar year of the financial year end.

Today, businesses can either be compliant or be padlocked. IRAS has been strictly enforcing taxation laws. Therefore, it is important for a company to comply and manage its income tax requirements. In order to do so, a company has to submit an accurate and correct tax return, and employ careful tax planning. However, it does not necessarily mean paying more than you ought to.

Take up our Singapore corporate tax services today and be tax-smart. Comply with government taxation regulations without unnecessary over-payments. Obtain a comprehensive tax plan, so you can make legal and legitimate decisions today that will make you tax efficient in the long term.

Our accounts managers will also guide you on the filing of audited or unaudited accounts as well as tax planning.

Our Taxation Services include: * Our fees range from S$ 480!

• Preparation and filing of Annual Tax Return and submission of Form C & C/S
• Preparation of Supporting Documents for computation of taxable profit
• Formulating strategy for implementing innovative tax planning
• Detailed income tax computation
• Attending to tax inquiries raised by the tax authorities and replying thereto
• Transfer pricing
• Review and develop effective profit repatriation strategies
• Managing tax audits
• Corporate taxation compliance
• Reviewing and assessing tax treaty benefits
• Structuring investments for tax efficiency

Our Taxation Services include: * Our fees range from S$ 180!

• Sole-Proprietor income tax computation and filing
• Partnership income tax computation and filing
• Liaise with Inland Revenue Authority of Singapore (IRAS) on all tax queries pertaining to Sole-proprietor, Partnership and Corporate income tax return.

We also offer a 3-in-1 Package!

PACKAGE DEAL AT ONLY S$ 980! ( U.P. S$ 1,500 )

Our 3-in-1 Compliance Package provides the following services:

• Secretarial Work – U.P. $S 340
• Compilation of Financial Report – U.P. from $S 600
• Tax Computation – U.P. from $S 480
• Submission of Estimated Chargeable Income – U.P. $S 80

According to IRAS – “Companies that qualify for the audit exemption and have chosen not to have their account audited, should file Unaudited Accounts. The Unaudited Accounts (including notes to the Accounts), prepared in compliance with the Companies Act, must be accompanied by the Directors’ Report and Statement by Directors.”

Under the scheme, qualifying new companies are given:

• Full exemption on the first $100,000 of normal chargeable income; and
• A further 50% exemption on the next $200,000 of normal chargeable income for the first three consecutive YAs.

All companies including companies limited by guarantee can enjoy the following:

• 75% tax exemption on the first $10,000 of normal chargeable income
• A further 50% tax exemption on the next $290,000 of normal chargeable income.

Corporate income tax rebate is given to all companies to help them with rising business costs and is applicable for YA 2013 to YA 2017. All companies will receive a corporate income tax rebate of the following:

• 30% corporate income tax rebate, capped at $30,000 per YA for YA 2013 to YA 2015; and
• 50% corporate income tax rebate, capped at $20,000 per YA for YA 2016 and YA 2017 Revised

Corporate income tax rebate is computed on the tax payable after deducting tax set-offs (e.g. foreign tax credit).

ECI, also known as Estimated Chargeable Income (ECI), is an estimate of a company’s chargeable income for a Year of Assessment (YA). Every company is required by IRAS to submit an ECI within 3 months from the end of each financial year. However, with effect from YA 2013, a new administrative concession applies to companies with a financial year ending October 2012 or after.

We assist in the preparation and filing of Estimated Chargeable Income (ECI) at only $S 30.

ECI data facilitates policy-making on a macro level, as well as the assessment of industrial performance. Furthermore, the filing of the ECI is one of the annual corporate compliance requirements in Singapore. It must be submitted to IRAS, the national tax authority within 3 months after the end of the financial year.

Companies with a financial year ending October 2012 will not be required to file ECI for a particular year if:

• they do not earn more than S$1 million for the financial year and
• their ECI is NIL.

If a company has failed to comply with the ECI requirement, IRAS shall issue a Notice of Assessment (NOA) based on its estimation of its income. The company then has one month from the date of IRAS’ NOA to submit its written objection if it does not agree with IRAS’ estimated assessment. Otherwise, the NOA is recognized as final.

Goods and Service Tax (GST), similar to the Value Added Tax (VAT) in many countries, is a consumption tax on most domestic goods and services. Singapore’s GST is currently at 7%.

GST is exempted for the sale and lease of residential properties and most financial services. Export of goods and international services are not subject to GST. GST is collected by suppliers of domestic goods and services who are registered with the Comptroller of GST. For the import of goods, GST is collected by Singapore Customs at the point of importation into Singapore.

It is compulsory for businesses to come forward to register for GST when their turnover exceeds $1 million per year. Businesses that do not exceed $1million in turnover may voluntarily register with the Comptroller if it is beneficial to the business. The approval of such registrations is at the discretion of the Comptroller. Companies which are registered for GST will be required to file GST returns on a quarterly basis. Once voluntarily registered, the supplier must comply with the regulatory requirements and stay registered for a minimum of 2 years.

We have the expertise to assist you in the preparation and filing of such returns. Clients do not have to worry on meeting quarterly GST deadlines as we will do the job of tracking the deadlines on behalf of our clients.We will register for GST on your behalf with Inland Revenue Authority of Singapore (IRAS) and follow up with all queries regarding the registration.

We assist the GST Registration for your company at only $S 280 !

Our GST Reporting Services includes but not limited to the following functions:

• Goods & Service Tax (GST) registration, computation and filing F5
• Cancellation of GST registration

Compulsory GST Registration (Taxable turnover more than S$1 million). Documents required:

• ACRA Business Profile
• Latest Financial Report OR Recent 2 months of detailed Sales & Purchase Listings if business is less than 2 years
• Copies of 3 recent suppliers’ invoices received, including shipping documents
• Copies of 3 recent invoices issued to your customers, including shipping documents

Voluntary GST Registration

For companies who started sales. Documents required:

• ACRA Business Profile
• Latest Financial Report OR Recent 2 months of detailed Sales & Purchase Listings if business is less than 2 years
• Copies of 3 recent suppliers’ invoices received, including shipping documents
• Copies of 3 recent invoices issued to your customers, including shipping documents

For companies who started sales. Documents required:

• ACRA Business Profile
• A copy of the signed contract(s), accepted tender & purchase order
• Copy of rental agreement for your business office, warehouse, shop, etc
• Copy of Licence/ Permit/ Approval from relevant authorities to run business activities
• Copy of signed Option to purchase/ Sales & purchase agreement of property(ies)
• Recent 2 months of detailed Purchase Listing with 3 copies of recent suppliers’ invoices received, including shipping documents.

We offer an assessment that determines the impact of GST registration on your company and customers. Based on the assessment, we will advise you on the optimum GST filing cycle for your company. We offer monthly, quarterly and biannual GST filing.

Our service also includes providing advice on compliance matters as well as any incentives provided by the government for voluntary registration.

We offer a comprehensive range of GST services including:

*Fees range from $S 180 per quarter!

• Reviewing and e-filing GST returns
• Applying for GST registration or deregistration
• Compliance Support
• Managing IRAS audits and investigations
• Managing and responding to IRAS queries
• Making voluntary disclosures of errors to the IRAS to mitigate penalty exposure
• Advising on GST implications involving business start-ups, new business arrangements and cross-border transactions.
• Conducting in-house GST training customized to specific business transactions

Personal Tax Services

Our personal tax services cover the following areas:- -Only $S 180!

• Succession planning
• Expatriate tax planning
• Salary packaging
• Personal taxation compliance

Singapore Tax adopts a progressive personal tax rates, relative to an individual’s amount of income.

Singaporeans whose overseas employment is for a period of at least six months in any calendar year can choose to be treated as a non-resident for the year of assessment following the year of overseas employment. Foreign income received in Singapore is not subject to tax under certain conditions.

It is mandatory under law to file for your annual personal tax returns to IRAS by 15 April of every year. IRAS diligently enforces the requirements relating to the filing of the personal tax. Please comply to avoid paying fines and/or court prosecution.

Income is assessed on a preceding calendar year basis, ending 31 December. You must File Your Annual Tax Form by 15 April of the following year. If a tax return is not filed by the 15 April deadline, IRAS may raise estimated assessment. You can usually expect to receive the income tax bills from May to August.

We can assist you in your personal income tax filings. Our personal tax filing services include:

• Registration for new tax payers
• Preparation and filing of income tax return based on your income and determination of possible deductions and reliefs that are applicable to you
• Preparation of Form IR8A/IR21 for employees
• Year of Assessment & Basis Period
• Tax planning as well as advice
• Request for extension of deadline, if necessary
• Tax Residency & Personal Reliefs
• Source of Employment Income
• Payment & Refund of Tax
• Taxation of Director’s Remuneration/Fees
• Taxation of Equity Gains
• Taxation of Allowances & Benefits-in-kind
• Taxation of Different Types of Bonus
• Double taxation and Exemption
• Employer’s & Employee’s Obligations: Forms IR8A, IR21 & B1
• Special Schemes – NOR, Area Representative
• Tax Compliance: IRAS Enforcement Actions on Non-Filing & Late Payment, Penalties for Negligence & Evasion
• Voluntary Disclosure

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