Your tax needs and compliance are made hassle-free
Staying updated with any change is time-consuming and overwhelming. We can help you keep up with all the latest tax legislation and regulation changes so that you can stay focused on operating and growing your business.
Helmed by dedicated tax professionals, the Tax services we offer cover tax compliance and consultancy, as follows:
Corporate income tax compliance
As a reliable tax advisory firm in Singapore, we assist companies in preparing their income tax computations and the accompanying schedules. We also help with the estimated chargeable income and annual income tax return required for submission to the Inland Revenue Authority of Singapore (IRAS). In addition to assisting with the above compliance requirements, we will notify you where a transaction might lead to other tax ramifications (for example, withholding tax compliance).
As corporate income tax compliance in Singapore becomes increasingly complex and multifaceted, we keep our clients up-to-date with Singapore tax regulations and any changes that may affect their operations. To achieve an agreement and complete the annual assessment, we will also engage with IRAS regarding the companies’ annual tax return filings.
Corporate income tax consultancy
Our corporate income tax consultancy services cover the following:
- advice on the Singapore tax regime
- advice on the corporate income tax implications of completed and proposed transactions
- advice on international tax implications of completed and proposed transactions
- advice and the application of the Double Taxation Avoidance Agreements (DTAA) of completed and proposed transactions
- apply for the tax incentives that are available from the relevant Singapore agencies
- assist with the tax due diligence review for a target company(ies)
Goods and Services Tax
Goods and Services Tax (GST) is a broad-based consumption tax levied on items brought into Singapore (imported and collected through Singapore Customs). This tax also applies to nearly every good and service supplied in Singapore. Thus, business expansion and international trade require addressing any GST issues.
Our GST services involve the following:
- Assess the companies need to register for GST
- Register for GST/Apply for exemption from GST registration
- Prepare and submit the GST returns (FORM GST F5)
- Assist with the ASK (Assisted Self-help Kit) review
- Assist with the ACAP (Assisted Compliance Assurance Programme) review
- Assist in the application for the GST schemes
- Advise on GST implications of completed and proposed transactions
- Attend to IRAS queries
- Assist with the tax due diligence review for a target company(ies)
Transfer Pricing
Transfer pricing (TP) is the pricing of goods, services and intangibles between related parties. Businesses can no longer put off establishing a suitable TP model due to the rising focus of tax authorities on the need to demonstrate that their related party transactions are carried out at arm’s length.
Working with our Nexia International network members, we can help you establish an appropriate model for preparing proper documentation and assessing your current TP policy.
Withholding Tax in Singapore
When a non-resident firm or individual receives income from a Singaporean source for services given or work done in Singapore, the tax is withheld and on-paid to IRAS. Although the recipient is liable for the tax, the responsibility to withhold Singapore tax belongs to the Singapore taxpayer.
Since withholding tax in Singapore is dependent on numerous considerations, we can assist with the following:
- Determine whether the transactions are subjected to Singapore withholding tax
- Determine the applicable rate in each transaction, taking into account the applicable DTAA
- Calculate the correct tax amount
- Assist with all statutory filing requirements
Individual tax compliance and consultancy
As businesses are committed to investing in human competencies, revamping human resources arrangements is becoming quite common. These changes may require some consideration when rethinking remuneration packages and other applications of domestic tax laws.
In addition to our range of services for corporate clients, we also offer personal advice and assistance to individuals in tax matters, including:
- Prepare and submit the income tax returns and computations to IRAS
- Prepare the returns for employee’s remuneration (FORM IR8A)
- Prepare and submit the tax clearance return (FORM IR21) whenever a foreign employee is about to leave Singapore
- Apply for individual income tax schemes
- Handle tax queries from IRAS
- Apply for voluntary disclosures on previous tax errors/negligence
- Provide personalised tax planning to be tax-efficient
For enquiries relating to Tax, please contact:
