Certain industries sectors are entitled to a tax concession of a lower tax rate of 5% or 10% instead of 17%, subject to the Ministry of Finance’s approval. Concession application needs to be submitted to the International Enterprise (IE) Singapore.
We offer effective tax management and advisory services.
From understanding our client’s objectives, we can apply tax plans appropriate to each business requests and strategies.
We work closely with our clients to structure their affairs to help maximise the benefits and reliefs available under Singapore and international tax legislation by maximising jurisdictional and corporate framework advantages and provide comprehensive management and administration facilities including accountancy, tax compliance and full secretarial services.
Corporate re-organisations can be better managed with long term succession planning in mind and it also facilitates the future sale of a business in a tax efficient manner.
Our team will work with clients to make sure that the various tax reliefs and exemptions that may be available in relation to capital gains tax, stamp duty and VAT/ GST.
Income earned by the company in the preceding financial year will be taxed in the following year. This means that income earned in the financial year 2016 will be taxed in 2017. The current prevailing corporate income tax rate is 17%.
Capital gain is not taxable in Singapore.
Companies shall submit two corporate income tax forms to IRAS yearly:
Subject to certain requirements, new start-up companies are eligible to a tax exemption of 100% on the first S$100,000 chargeable income and 50% on the next S$200,000 chargeable income, for the first 3 YA.
Companies can continue to claim a partial tax exemption of 75% on the first S$10,000 chargeable income, and 50% on the next S$290,000 chargeable income provided that certain requirements are met.
Certain industries sectors are entitled to a tax concession of a lower tax rate of 5% or 10% instead of 17%, subject to the Ministry of Finance’s approval. Concession application needs to be submitted to the International Enterprise (IE) Singapore.
Prices are customisable to reflect your needs and requirements
