In recent times, the global tax climate has been evolving and many changes have taken place, where tax authorities have placed greater scrutiny on how companies manage their tax affairs. Steps have been taken to improve the cooperation between tax authorities and to achieve greater tax transparency through exchange of information.
Given this backdrop, it is increasingly important for taxpayers to take a proactive approach towards their tax matters to make sure that they plan ahead and do not overpay taxes, and in doing so, are not seen to be overly aggressive and assumed to be engaged in tax avoidance or tax evasion. We have a well-trained team of tax professionals who are equipped to guide businesses to properly manage their tax matters. We seek to help companies to pay the right amount of taxes and optimize their tax efficiency through our wide range of services.
How Nexia Singapore PAC helps:
a) Corporate Income Tax
Tax compliance:
• Assist in with Singapore withholding tax matters, including preparation and submission of Form IR37 (Singapore withholding tax return) for payments to non-residents • Application of Certificate of Residence for companies that wish to enjoy tax treaty benefits
Tax consultancy:
• Advice or opine on the tax implications arising from various business transactions/ arrangements • Tax planning or structuring consultancy • Treaty interpretation and international tax consultancy • Tax M&A work – tax due diligence work and sale and purchase agreement review • Tax incentive application • Application to IRAS for advance ruling • Assistance in complex tax controversies – representation in protracted tax disputes • Assist in IRAS audits and investigations
b) Goods & Services Tax (GST)
• Application to IRAS under the voluntary disclosure programme to mitigate penalties • Conducting GST Assisted Self-Help Kit (ASK) review
c) Other services
• Stamp duty consultancy Application to IRAS for stamp duty relief • Assistance in Foreign Account Tax Compliance Act (“FATCA”) and Common Reporting Standard (“CRS”) matters
