The Corporate Tax structure in Singapore is one of the most attractive in Asia. Every year, the tax computation is done based on the latest tax rates. Tax rebate for Corporate or Personal tax will be announced during the yearly budget by the Ministry of Finance.
The Corporate Tax rates in Singapore are relatively low and transparent. Its filing system is well structured and efficient. However, IRAS has been very strict on the tax compliance and any incorrect tax returns could subject the company to hefty fines/penalties from IRAS. There are many requirements in the Income Tax Act which are complex and fast changing. Inaccurate, late or non-submission may result in you being liable to a penalty. Therefore, it is recommended for you to engage our professional tax advisors.
Our team is well-equipped with the skills and knowledge of tax filing matters. We will provide timely reminders of IRAS deadlines (by email and call) in order to comply with the tax requirements to meet the IRAS due dates.
We can assist your company to comply with the regulations of Corporate Tax in Singapore. At the same time, we advise how to correctly reduce your tax liabilities to maximize your profits.
Every Singapore business registered companies has to be able to properly submit their tax returns. Without the right kind of tax experience, you can find that filling in Form C-S and Form C can be quite struggling. Let us help you to get around this issue, delivering professional tax and computation services.
This can help you to make sure that you get your forms prepared with care and professional competence, without missing out on any key deductions that can benefit your business.
We are able to plan out, identify and initiate the best tax plan possible for your organisation.
We can help you manage your Personal Tax filing by providing you the assistance and through tax advice, we will enlighten you on the various aspects of taxes including tax deductions and every available concession where we will make what is often a fraught and a hassle process so much simpler.
Let’s make sure that you get your taxes filed in good order and timely to avoid any penalties.
Let us handle your GST submissions and registration/de-registration filing service.
This ensures that your business can fulfil its mandatory obligations to avoid being penalised in cases where the error/omission/discrepancy in the tax return was made.
What We Provide
- Preparation and submission of ECI (Estimated Chargeable Income)
- Annual Submission of Form C/Form C-S
- Preparation of tax computation and schedules
- Tax Benefits and Incentives (where applicable)
- Attending to basic IRAS’s queries, notice of assessments, raise objection with IRAS. (extra charge apply depending on the complexity of each case)
- Annual submission of Income Tax forms:
- Personal (Local residents) – IR8A, AIS, Form B, Form B1
- Personal (Non-residents) – IR8A, AIS, Form M
- Partnership – Form P
- Preparation of tax computation and schedules
- Tax optimization and tax treatment advisory (where applicable)
- Assisting with IRAS’s basic queries
- Submission of GST returns
- Preparation of tax summary and detail report.
- Assisting with IRAS’s basic GST queries
It is compulsory for businesses to register for GST when their turnover exceeds $1 million per annum. Businesses that do not exceed $1 million per annum in turnover may register for GST voluntarily.
- Provide consultancy services related to GST registration
- Gather the relevant documents for the application of the GST Registration
- Address queries from IRAS with regards to the GST registration
You may cancel your GST registration if you are certain that the annual turnover do not exceed 1 million. However, if you had previously registered on voluntary basis, you must remain registered for at least 2 years before you can cancel your registration.
It is compulsory to cancel your GST registration within 30 days when you stopped making taxable supplies and do not intend to make taxable supplies in future or when your business has ceased.
- Provide consultancy services and gather the relevant documents for GST deregistration
- Review and e-filing of final GST returns
- Address queries from IRAS with regards to the GST deregistration
If you are required to register for GST mandatory and you make or intend to make wholly or mainly zero-rated supplies (are more than 90% of your total taxable supplies), we can apply to the Comptroller of GST for exemption from GST registration.
This allows you to avoid the administrative filing requirement of GST registration and subsequent quarterly GST filing.
RMS can assist you to apply for GST Exemption.
COR is a letter certifying that the company is a tax resident in Singapore for the purpose of claiming benefits under the Avoidance of Double Taxation Agreement (DTA). If the control and management of its business is exercised in Singapore, the company is a tax resident in Singapore. A Singapore tax resident company can enjoy the benefits in the DTAs that Singapore has concluded with other treaty countries.
RMS can assist in your COR Application.