Tax Advisory
Helping you to prepare and optimise your tax returns
Singapore’s corporate tax system
In Singapore, the stipulated tax rate is capped at 17% – a tax rate of 17% will be applied to your company’s profits, which is relatively lower than other countries – a benefit of incorporating a Singapore company.
The Inland Revenue Authority of Singapore (IRAS) requires all Singapore companies to submit their Estimated Chargeable Income (ECI) within 3 months after their financial year and their final tax return by 30th November every year. Otherwise, IRAS will impose hefty penalties. IRAS will also impose penalties for incorrect returns.
Companies whose related party transactions surpass a certain threshold must prepare Contemporaneous Transfer Pricing (CTP) documentation. A Summary of Singapore’s Corporate Tax System provides more information about Singapore’s corporate tax system.
Do I require tax advisory services?
It is relatively common to read about big companies getting involved in legal issues and even facing hefty fines resulting in bankruptcy due to non-compliance with obligations (such as taxes).
Regardless of your company size, it is difficult to understand financial terms and the complex tax system and use tax regulations and exemptions as leverage.
Our tax advisory and corporate tax services
Our tax team is well-versed in accounting and up-to-date with the latest tax laws and standards. Both of which are crucial for strategising possible ways to save taxes for your company in various situations.
To better understand your company’s future standing, we will communicate complex tax information to you in an easily understandable manner. Our advice is specific to each company as we understand that all companies are different.
TnB’s Tax Advisory Services are structured to address the highly complex corporate tax compliance and your transaction and advisory needs. Through a thorough analysis of your business processes, we will tailor our strategies and advice to help you strategically manoeuvre your business.
- Singapore & offshore taxation
- Tax and risk advisory (business restructuring, ownership structures)
- Pre IPO and tax due diligence reviews
- Helping you to optimise your tax savings while complying with laws and regulations
- Estate planning (estates, trusts, wills)
- R&D tax incentives
- Withholding tax services
- GST ASK review
- E-Stamping
- Corporate and personal tax planning
- Corporate tax computation
- Assist in completion and submission of tax forms to IRAS
- Assist in completing and submission of Form C/C-S to IRAS
- Assist in payments and refunds of corporate tax
- Technology selection and optimisation for more efficient information gathering
- Identify areas for process and workflow improvement