We assist companies in the preparation and filing of their annual tax returns and tax computations to the Inland Revenue Authority of Singapore (“IRAS”). We will highlight situations where a transaction may lead to other tax implications (i.e. withholding tax compliance). We are able to 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
As your business grows domestically and internationally, its registration and dealing with Goods and Services Tax (“GST”) arise. We note that GST compliance remains challenging to most businesses, we provide practical advice to support you in your day-to-day GST tasks and take a pro-active approach in managing your GST risks.
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 the application of GST schemes
- Advisory on GST implications
Employees are becoming more mobile within a globalised world, and Singapore is also fast establishing itself as the country of choice to be based in for multinationals and individuals. Hence, it is becoming increasingly common for companies to rethink human resource arrangements with consideration given to restructuring of remuneration package and the 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
With the 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 associates, we can assist you in developing an appropriate and comprehensive transfer pricing model, prepare a transfer pricing document or review your existing transfer pricing policy.
