Singapore Income Tax Filing Services: Personal & Corporate Taxation
SBS Consulting, since 2010, has provided top-notch services for income tax filing Singapore. We offer services covering various personal and corporate taxes and accounting structures mandated by Singapore Tax Service Section.
Singapore Income Tax Filing Services
SBS Consulting offers top-notch assistance for income tax filing Singapore. As a provider of tax services Singapore, we ensure that all our clients comply with the Inland Revenue Authority of Singapore (IRAS). Our services cover personal and corporate income tax and accounting structures mandated by Singapore Tax Service Section.
Complying with the tax regulations like corporate tax filing Singapore is a struggle. If you serve foreign clients, your worries multiply as it involves cross-border tax complications.
As a Singapore tax services provider, we take the sting out of resource-intensive tasks like tax planning, financial accounting, and compliance. Our experienced tax consultants streamline your personal and corporate income tax calculation and filing.
We save your time, efforts, and resources and give you peace of mind during reporting season. We work to maximise your tax incentives and benefits and improve your bottom line.
Singapore Tax Services
SBS Consulting offers comprehensive services for GST filing, annual tax returns, and personal and corporate tax filing Singapore. Get an overview of the different Singapore Tax & Accounting structures described in our Singapore Tax Services section.
Income Tax Compliance & Filing in Singapore
Our accountants provide corporate tax services Singapore and also assist with tax advisory, planning, financial accounting, compliance, and other critical regulation matters of your business.
- Monitor deadlines for tax filing
- Prepare and submit finalised tax returns
- Advice on the tax payments
- Singapore tax incentive applications
- Filing of Form C and Form C-S
- Personal income tax filing
- Withholding tax services
- GST accounting and filing
Our tax consultant analyses your business structure before providing you with our customised tax solutions.
- Review of tax due diligence
- Advice on tax on investments
- Analysis of business flow and contracts
- Advice on business structure
Corporate Income Tax
Our professional tax consultants assist you in efficient tax management and effective tax strategies. They help you manage and contain or avoid adverse tax implications of your business decisions and help you save a lot of money.
Income tax filing Singapore for companies is straightforward. They are charged at the flat rate of 17% of corporate income tax. However, with the tax benefits, exemptions, and rebates they get, their effective rate comes down to almost 8.5% – 9.5%.1
Sole Proprietorships and Partnerships follow different structures for their income tax filing Singapore. Their owners have to pay personal income tax (& not corporate tax) on the income received from their businesses.
Personal Income Tax
Singapore personal income tax rates Singapore is affordable. Your tax residency determines your income tax rate. Singapore citizens and permanent residents pay residents’ rates that range from 0%-22%.
The non-resident individuals are charged the flat rate of 15% or the residents’ rates, whichever yields the higher amount. The foreign company directors and consultants are taxed at 22%.
GST Compliance
Singapore companies with taxable turnover over S$1Million need to register for GST. Our accountants assist in GST registration, filing and compliance.
Our Singapore GST services:
- GST advise for new companies
- GST registration and GST return filing
- Claims for GST input tax
- Special GST registration
- GST advisory on local and international trading
- Prepare GST returns
- Application for Major Exporter Scheme (MES), Licensed Warehouse Scheme, and Zero GST Warehouse Scheme (ZGS)
- Take care of IRAS queries
- Filing GST forms
Apply Certificate of Residence (COR)
Singapore has signed many Avoidance of Double Taxation Agreements (DTAs) with other countries. As a result, Singaporean companies are not taxed twice, and they enjoy streamlined cross-border trading.
However, they have to prove their Singapore tax residency to benefit from the DTAs. We apply and acquire a Certificate of Residency (COR) for them. It is what proves their Singapore tax residency.
Withholding Tax Services
Singapore companies need to hold a part of the payment to non-resident companies or individuals. The amount is then paid to the IRAS as the Withholding Tax.
SBS Consulting’s Singapore Tax filing Services
The Inland Revenue Authority of Singapore (IRAS) administers the execution and collection of taxes in Singapore. At SBS Consulting, we compile the necessary annual tax return documents for submission to IRAS.
We also help you with tax planning and professional guidance to file audited or un-audited accounts. Our tax services Singapore:
- Singapore Personal Income Tax
- Singapore Corporate Tax
- Singapore Goods and Services Tax
- Singapore Property Tax
- Singapore Trust Tax (including income from estates)
- Singapore Stamp Duty Tax
- Singapore Clubs, Trade Associations, MCs and Town councils Tax
- Singapore Private Lottery Duty Tax
- Singapore Betting and Sweepstake Duties Tax
- Singapore Casino Tax
- Partnership and Personal Tax Filing
You need to be very prompt about your income tax filing Singapore. The taxes you pay goes into the development of Singapore. Call us now to sort out your queries regarding the different tax structures payable on generated income in Singapore.
FAQ’s
Tax compliance is strictly following tax regulations and laws in force. Tax authorities expect companies to come true on their tax liabilities and pay their taxes accurately and on time. Failing to be tax compliant can be very damaging for a Singapore business.
Singapore is renowned for its low rate of income tax rates. Singapore's corporate income tax rate is one of the lowest globally. It is charged at a flat rate of 17% of the profit.
Singapore levies no tax on capital gains. If a company pays its corporate tax, it can disburse tax-free dividends to its shareholders. In Singapore, there is no tax on inheritance.
You can calculate corporate tax returns manually or using tax preparation software. You need to calculate the taxable income and submit it to the IRAS. Next, you need to prepare and file your tax returns online. You can use the IRAS' portal to file your tax returns online. It is all time-consuming.
Appointing a Singapore tax services provider saves time for you. Their tax consultants can take care of your form C or form C-S and other issues related to corporate tax filing.
Singapore assists startups in their initial days. Under the Tax Exemption Scheme for Startups, they can claim for the first 3 assessment years. They can claim:
- 75% tax exemption on their first S$100,000 chargeable income
- 50% tax exemption on their next S$200,000 chargeable income
