There are many businesses in Singapore, which have tax implications, which they might not able to resolve on their own. For instance, it is required all businesses in Singapore to submit their income tax and financial reports together to the IRAS (Inland Revenue Authority of Singapore) authority. This work becomes hectic for many small and mid size businesses in Singapore and they need experts to manage their financial reports and income tax filing requirements on their behalf.
So, if you also find it difficult to manage your company’s income tax and financial reporting work on your own, you should not be late to call us and avail our best offered taxation services now!
We entertain our corporate clients by serving them with statutory and IRAS compliance taxation services for their companies and enable them to stay away from issues related with income tax and financial reporting matters in their businesses.
In Singapore, 30th November is the date of subsequent financial year in the country. However, every business is required to file its income tax or return along with financial report to the government till the same date. Thus, we help the businesses to take reminder of the same through us as well as get prompt and hassle-free services for annual audit, income tax filing and financial reporting to be done by us within time frame.
To manage our patron’s all income tax and financial planning or reporting projects, we have a team of experienced accounting professionals, taxation and financial experts too. They have massive experience in handling all accounting, financial, and tax related matters of client’s business and can resolve them adequately. Moreover, they can file for annual tax and financial reporting on behalf of the client’s firm to the IRAS at right time.
So, do not be late to avail our valued Taxation Services, which are complied with IRAS and other government rules in Singapore. We also provide you with well-organized tax and investment plans that will help you in managing annual expenses of business as well as save money.
Our experienced accounting managers and taxation experts will assist you in filing audited or un-audited accounts and tax planning as well. Apart from that, we help businesses in Singapore in the following areas:
Thus, it will be a wise decision, if you apply for our cost-effective, reliable and professional taxation services in Singapore.
Our best offered Taxation Services conclude:
Our 3-in-1 compliance package includes the following services at different charges:
Thus, it is convenient for customers to apply for desired services through us and do the right management of tax, income, and filing for them through us as per IRAS and ACRA norms in Singapore.
According to Inland Revenue Authority of Singapore (IRAS), the companies which have qualified for audit exemption and have chosen not to have their account audited, they are also required to apply for unaudited accounts. The companies having unaudited accounts, which are prepared in accordance with Singapore Companies Act., they also need to come with company director’s report and statement too.
According to tax exemption scheme, if you have a new or startup company in Singapore, then it will get full exemption on the first $100,000 on normal chargeable income. Furthermore, you will get 50% exemption on the next $200,000 on normal chargeable income up to initial 3 years.
The next 50% tax exemption will be applicable on the $290,000 on normal chargeable income.
Under this scheme, all the companies, which lie under limited by guarantee category, they can also get benefit of 75% tax exemption on the first $100,000 on normal chargeable income.
The provision of tax rebate on corporate income tax is applicable for all level companies in Singapore. However, it will help them to grow their businesses or revenue easily. It is applicable for YA 2013 to YA 2017.
The estimated chargeable income is the total estimation of annual income of a company, which lies under taxable slab set by the government. Every company in Singapore, which is governed by IRAS is required to submit its estimated chargeable income within 3 months of end of financial year. However, after the yearly assessment (YA) of 2013, a new concession is applied to the companies with financial year ending on October 2012 or afterward.
We at, Singapore Incorporation Services are committed to render genuine and accurate estimated chargeable income tax services as per industry norms in Singapore.
It is necessary to file for estimated chargeable income tax (ECI) of the company, if its annual income comes under the taxable category. The income tax paid by the companies to the government will indirectly will benefit them or to the countrymen. As the government invests the ECI amount collected from companies in favor of welfare of citizen and providing numerous facilities to them. Thus, it is a good contribution by every company in favor of the nation to pay some profitable amount of revenue to the government to utilize it for betterment of the nation.
The companies lie under taxable revenue or income, they need to file for ECI within 3 months after ending of financial year. So, if your firm come under the same slab, you should not be forget to file for ECI on time.
The Singapore government may also provide some administrative concessions to the companies, which have financial year ending on October 2012. These companies will not be liable to file for estimated chargeable income (ECI) tax. Here the conditions applied for availing administrative concessions by the companies, if they:
In case, you fail to comply with ECI tax of your company to IRAS, the authority will issue Notice of Assessment (NOA) that will be based upon your annual income or estimation of taxable amount. If you are not agree with NOA sent to you or amount of assessment charges to be paid, then you will get the one month time period that will start from date of issuing NOA. In this period, you will have to send objection reasons in written to the IRAS, otherwise, the estimated amount in NOA would be considered as final to be paid. Thus, you need to file for ECI of company on time to avoid unwanted NOA notice or penalties.
It is necessary for all level companies to file for GST registration, as it is the Goods and Service tax, which is quite similar to Value Added Tax (VAT) applicable in many countries. This tax is applied for companies indulged in goods and service businesses in the market. In Singapore, the GST tax rate is up to 7% for all types of goods and service businesses. However, every company has to file for the GST registration for its business, but it depends upon the types of business you have. Thus, there are varied types of GST is applied on the goods and service businesses in Singapore.
Thus, it is much needed for companies in Singapore that they have recognized their business type and applicable GST taxes for them as per guidelines of Inland Revenue Authority of Singapore (IRAS). Once you find your business applicable for GST tax, you are supposed to file for GST registration on time without fail.
The companies in Singapore, which have been registered their GST, they are required to file for their returns on quarterly basis. Once you get registered for GST, you must comply for the same at least for next 2 years at least.
We at, Singapore Incorporation Services Pte. Ltd., can assist you in filing your company’s GST tax and its registration to be done with IRAS. We assure for submitting GST of your company quarterly by us without fail. Moreover, we do keep eyes on any update about GST and IRAS guidelines regarding GST, if any, we will intimate about the same to the clients on time. We do registration of GST on behalf of company with IRAS authority and do follow up all GST submission processes legally and in an organized way. You can also get more details about GST benefits and its online registration from our accounting and taxation professionals too.
We enable our patrons to get the accurate computation of GST for their goods and service businesses in Singapore and will also streamline GST filing with IRAS by following legal procedure. Furthermore, we can also do cancellation of GST registration as per requirement of the client.
You must have to be aware of all legal documents and procedures applicable for applying GST registration of business in Singapore. Below are some required documents and information about the same:
It is a kind of self registration of business done by the dealer in order to get listed in the GST framework. To avail benefit of it, it is necessary that both business units and dealers have done their GST registration successfully.
(A) The start-up or new businesses in Singapore, which have just started their sales, they need to apply for voluntary GST registration.
(B) The businesses, which have not started their sales, they also need to comply with GST registration.
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.
It is the tax applied on the personal income of an individual. This tax differs from earnings of firm’s income, instead, it is meant for earnings of owner or shareholder of the firm at personal level, which can be his or her salary or other allowances. However, one whose salary lies under the personal tax slab set by the government then the person has to file for personal income tax as per the norms.
The individual, who own the high salary package, meeting the threshold of income tax or over of it, he or she is liable to pay tax of income too. To calculate right taxable amount, self assessment of personal tax, and other financial planning, you need to apply for the professional tax services offered by experts.
The personal tax in Singapore is applicable for those, who earn income in Singapore only. The individual or Singaporean earns in overseas, is not subjecting to pay income tax or he is out of the taxable barriers. However, the Singapore government welcomes foreigners and individuals, who earn foreign currency for the country.
The Singaporeans, who have spent at least six months of their employments in overseas, they will be treated as the non-residents for the year of assessment as per the overseas employment norms. However, the earnings made by Singaporeans in overseas will not be concern of personal income tax or will get relaxation from it.
We at, Singapore Incorporation Services Pte., Ltd., are also engaged in providing you with the best personal tax services, which are followed by the taxation norms of ACRA in Singapore. Our personal tax services will entertain one for the following things:
Note: Our personal tax services starts from $S 180
As per the law, due date of annual return or personal income tax filing to IRAS in Singapore is 15 April of every year. Inland Revenue Authority of Singapore (IRAS) carefully inflicts individuals to file their income tax on time. It is suggested, to file personal tax to avoid fines or court prosecution.
In Singapore, the income tax is assessed as per the preceding calendar of every year ends on 31 December. However, it is requested to file your income tax by 15 April of every year as per the taxable slab set by the IRAS. One can receive income tax pay bills from IRAS from May to August.
We are committed to provide our patrons with accurate and well-computed income tax filing services that will entertain individuals for personal tax services as follows:
Thus, we are one stop source in Singapore to avail all sorts of personal tax services for individuals and help them to gain prospective benefits for the same and stay out any taxation issues of personal earnings easily.