How do we assist you in the Corporate Tax Services?
We assist Singapore companies in achieving their tax objectives in today’s global landscape. Our tax team has extensive experience and foresight in Singapore taxation.
Why is tax compliance so important for Singapore companies?
All Singapore companies must submit their Estimated Chargeable Income (ECI) within 3 months after the end of the financial year and final tax return by 30 November every year.
IRAS, the tax authority, imposes penalties for late filing and incorrect tax returns. Companies should prepare Contemporaneous Transfer Pricing (TP) documentation if the related party transactions exceed a certain threshold.
For December Year-End Companies (i.e. FYE 31 December 2021 – YA2022):
– ECI: by 31 March 2022
– AGM: by 30 June 2022
– Annual Returns: by 31 July 2022
– Final Tax: by 30 November 2022 (YA2022)
For March Year-End Companies (i.e. FYE 31 March 2022 – YA2023):
– ECI: by 30 June 2022
– AGM: by 30 September 2022
– Annual Returns: by 31 October 2022
– Final Tax: by 30 November 2023 (YA2023)
For June Year-End Companies (i.e. FYE 30 June 2022 – YA2023):
– ECI: by 30 September 2022
– AGM: by 31 December 2022
– Annual Returns: by 31 January 2023
– Final Tax: by 30 November 2023 (YA2023)
How our Corporate Tax Team help you
Our experienced tax service team can help you to file Estimated Chargeable Income (ECI) and final tax returns filing
Our tax services include the following:
1. Preparation of tax computation (approximate 3 to 10 pages depending on complexity);
2. Preparation of supporting tax schedules;
3. Preparation of relevant tax return forms (i.e. ECI, Form C or Form C-S); and
4. Upon receiving your approval, we e-submit the relevant documents to IRAS.
Our tax team prepares the tax returns based on:
(a) the accuracy and appropriateness of the accounting records (from the detailed accounting general ledgers for tax purposes); and
(b) the evidential documents (scanned or hard copy) that support the existence, valuation, occurrence and completeness of the company’s business transactions for the relevant year of assessment.
How do we prepare company tax computation?
For clients using our annual bookkeeping services, our team completes the annual bookkeeping of business transactions for the financial year and check that each account’s categories are grouped correctly in the profit or loss statements (comply with IRAS requirements).
With the management report, we prepare the tax computation and ECI.
Do note that the deadline to file ECI is within 3 months after the close of the financial year-end. Next, after we complete the ECI filing to IRAS, submit Form C by 30 November in the Year of Assessment (YA).
After we submit the Form C or Form C-S, some companies may require to provide IRAS with the following documents:
(i) the company’s financial statements (comply with Singapore Financial Reporting Standards and Singapore Companies Act, Cap 50); and
(ii) tax computation and supporting schedules (comply with the Singapore Income Tax Act).
All company’s supporting documents (invoices, receipts, etc) must be kept for 5 years. IRAS may conduct tax audits by examining the accounting books to verify that the income tax returns for the relevant year of assessment comply with Singapore tax laws.
Understanding Company Tax Exemptions, Deductions and Incentives for Businesses
In Singapore, tax exemption and other tax incentives offered to entrepreneurs are attractive, and this is one of the key reasons for many to set up their business in Singapore.
When the company received approval from ACRA, the company may need certain services from the tax professionals. To meet your tax obligation, we have a team of highly experienced and dedicated tax professionals to fulfil your tax compliance obligations.
As your tax agent, we assist in overall tax planning strategies to minimise tax liabilities with our in-depth understanding of the Singapore Income Tax Act and Singapore Tax laws.
Professional Tax Team advises tax strategies for business owners
We offer income tax services to Singapore incorporated companies. Our team of experienced and dedicated tax teams will assist in meeting your business needs and handling the fiscal challenges.
Our tax team prepares your tax returns (maximizing tax deductions and exemptions) and file income tax returns for your company. We will maintain your tax filing system in a systematic way that will meet your businesses’ present needs in Singapore.
Full company tax services include:
1. Provide advice on corporate tax planning and a notice of assessment (NOA) matters;
2. Assist in the preparation and filing of Estimated Chargeable Income (ECI) within three (3) months after the end of the financial year;
3. Monitor the statutory deadline and work in close cooperation to meet all compliance needs;
4. Advice the company on Foreign Tax Credit;
5. Assist in the preparation of tax computation and file tax returns to IRAS;
6. Assist in providing information on tax queries and draft responses to IRAS;
7. Advice on registration of GST and Quarterly GST F5 form filing;
8. Assist in annual payroll-related tax matters for employees.
9. Advice on the consequences of late filing or non-filing of tax returns.
We support your business in meeting your tax obligations and the computation of tax in specific industries, including investment companies, trusts, managers, construction companies, real estate, shipping, manufacturing, etc. Our tax professionals work in close collaboration to assist in IRAS queries on all the company’s tax matters.
Today the entire business decisions are based on tax implications and to comply with stringent income tax laws. An effective tax strategy has now become a critical part of a very practical and well-developed solution for businesses in Singapore.
Get Singapore Company Tax Assistance Today!
We have in-depth experience in providing tax advice and tax compliance expertise. We develop well collaborative services through the identification and impact of tax strategies that can work best according to the company needs to minimise tax liabilities and, at the same, comply with the Singapore Income Tax Act.
Please send through your enquiry via Contact for our team to understand exactly what concerns you have. The Company Tax team will contact you to discuss this in detail.