TAX

Tax Solutions Simplified

Discover an stress-free way to manage your taxes with our expert guidance. Our team of tax professionals is here to simplify the complex world of taxation, ensuring you maximize your returns and minimize your worries.

We’re dedicated to helping you navigate the intricacies of tax laws, making compliance effortless and tax savings substantial.

Welcome to a world of tax relief and financial prosperity. Our service is designed to alleviate tax burdens, so you can enjoy peace of mind and focus on what matters most. We specialize in customized solutions that ensure you’re in control of your taxes, not the other way around.

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Taxation: Uncovering the Financial Backbone

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Corporate income tax

Company is taxed on the income earned in the preceding financial year.

A Company needs to file an estimated chargeable income (ECI) within 3 months from the end of the financial year, except for companies that qualify for the ECI filing waiver and those that are specifically not required to file an ECI.

All Singapore companies must e-File their Corporate Income Tax Returns with IRAS using Form C or Form C-S by 30 November and no extensions are granted.

Form C-S are for Singapore-incorporated companies with annual revenue $5 million or below and taxed at the prevailing corporate tax rate of 17% (i.e. no concessional tax rate) and not claiming carry back of current year capital allowances/losses, group relief, investment allowance, foreign tax credit and tax deducted at source, while others must submit Form C.

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Individual income tax

Generally, an individual will be required to submit his/her Income Tax Return if in the preceding calendar year: 

  1. Total income is more than $22,000; or
  2. Have self-employment income with a net profit more than $6,000; or
  3. Is a non-resident who derived income from Singapore.

The due dates for individual paper filing is 15 April while e-filing is 18 April.

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Goods and Service Tax

Business must register for GST when taxable turnover exceeds $1 million. 

If the business taxable turnover does not exceed $1 million, the business may still choose to voluntarily register for GST after careful consideration.

Only GST-registered businesses can charge and claim GST from their effective date of GST registration. Non-GST registered businesses are not allowed to charge or claim GST.

If you are a GST-registered business:

  1. You must submit your GST return to IRAS within a month from the end of each prescribed accounting period. This is usually done on a quarterly basis.
  2. You should report both your output tax and input tax in your GST return.
  3. The difference between output tax and input tax is the net GST that is payable to IRAS or refundable by IRAS.