Tax
Keeping up-to-date with changes can be time-consuming and overwhelming. Let us help you comply with the latest tax regulation while you focus on developing and growing your business.
Corporate Tax Compliance and Consultancy
We assist companies in the preparation of their income tax computations and the necessary supporting schedules, as well as annual tax return required for submission to the Inland Revenue Authority of Singapore (“IRAS”). We will also bring to your attention situations where a transaction may lead to other tax implications (i.e. withholding tax compliance).
As tax compliance becomes more complex and rigorous in Singapore, we keep our clients updated with Singapore tax regulations and any changes that may affect their businesses. We also communicate with IRAS regarding the companies’ tax affairs with a view in reaching an agreement and finalisation for each year of assessment.
Our tax consultancy covers:
- Singapore general tax regime
- Corporate tax implications of completed and proposed transactions
- Withholding tax
- International tax
- Advisory and application of Avoidance of Double Taxation Agreements
- Tax incentives available from the relevant Singapore Authorities
Goods and Services Tax
The growth of business and international trade requires a need to address issues in Goods and Services Tax (“GST”).
We offer assistance in the area of GST such as:
- Assess the companies’ need to register for GST in the furtherance of business
- Registration for GST / Application for exemption from GST registration
- Preparation and submission of GST returns (Form F5)
- Review of GST report and submission to IRAS
- Assisted Self-help Kit (ASK) Review
- Assistance in application of GST schemes
- Advisory on GST implications
Individual tax
The business world is moving towards the concept of investing and capitalising on the best asset – human capabilities. Hence, it is becoming increasingly common for companies to redesign human resource arrangements which may require thoughtful consideration in terms of restructuring of remuneration package and application of domestic tax laws.
Similar to handling employee tax matters for companies, we also assist individuals in personal tax matters including:
- Preparation of income tax computations and tax returns
- Preparation of returns of employee’s remuneration (Form IR8A)
- Preparation and submission of tax clearance (Form IR21)
- Application for individual tax schemes
- Attending to tax queries from IRAS
- Application to IRAS for voluntary disclosures of past tax errors / negligence
- Personal tax planning
Transfer Pricing
With increasing focus on transfer pricing by tax authorities, businesses can no longer defer the need to establish appropriate transfer pricing and prepare transfer pricing documentation.
Working together with our Kreston International network members, we can assist you in developing an appropriate transfer pricing model, prepare a transfer pricing document and review your existing transfer pricing policy.
