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Corporate tax services in Singapore deal with tax compliance and tax advisory issues. IRAS manages all taxation in Singapore as well as any related services.

Paul Hype Page & Co tax professionals have extensive experience and knowledge in Singapore and international taxation alike. We provide a broad range of corporate taxation services to many multinational corporations.

Paul Hype Page & Co’s team of tax laws and specialists is well-versed in the latest tax laws and practices. We offer you support to deliver more than just an ordinary tax return. We will ensure that all returns are properly prepared and submitted to the regulatory authorities on time. Our tax consultants can deliver insight and value to you and your company.

We offer the following tax planning services:

Singapore Tax Compliance Services

Our Singapore Tax Compliance Services include:

  1. Constantly updating you with Singapore tax regulations (including budget updates) which may affect your company/branch and compliance requirements .
  2. Monitoring the statutory deadlines and working closely with your company/branch to meet the compliance filing deadlines.
  3. Preparation and filing an estimated chargeable income which has to be filed within three months from the end of the accounting year.
  4. Preparation/reviewing monthly/quarterly tax provision calculations based on your information and highlighting any tax issues identified in the course of our preparation/review of the information provided.
  5. Preparation/reviewing the tax computation and Form C based on your information and highlighting any tax issues identified in the course of our preparation/review of the information provided.
  6. Submitting the finalized tax computation and Form C to your company/branch for your signature and agreement before filing with the IRAS.
  7. Advising on the tax payments due dates upon receipt of the Notice of Assessment
Singapore Tax Compliance
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Singapore Tax Advisory Services

Our Singapore Tax Advisory services include:

  • Developing and structuring remuneration packages for Singapore employees, including expatriates, to enhance tax efficiency.
  • Singapore tax planning, equalization, and protection for inbound and outbound individuals.
  • Equity-related compensation schemes.
  • CPF contributions and compliance matters.
  • Other advisory matters

The following are some of the questions that taxpayers face:

1) What are the common pitfalls of preparing income tax returns and income tax computations made by taxpayers?

2) What can taxpayers do to increase their level of tax compliance and minimize the number of potential queries raised by the IRAS?

3) How should taxpayers prepare beforehand if they anticipate that the IRAS would likely raise potential queries?

4) What should taxpayers do if they indeed receive queries from the IRAS?

Corporate tax compliance in Singapore has become more complex under the regulatory scrutiny of the IRAS. Paul Hype Page & Co ensures both your company and your compliance meet the standards required for corporate tax submissions in Singapore.

Singapore Taxation FAQs

What is an Avoidance of Double Tax Agreement?2020-11-16T10:23:18+08:00

An Avoidance of Double Taxation Agreement (DTA) is an agreement signed between Singapore and another country (a treaty country) which serves to relieve double taxation of income that is earned in one country by a resident of the other country. 

It makes clear the taxing rights between Singapore and her treaty partner on the different types of income arising from cross-border economic activities between the two countries. 

The DTA also provides for reduction or exemption of tax on certain types of income. Only Singapore tax residents and tax residents of the treaty country can enjoy the benefits of a DTA.  

What is the procedure for taxing a company (both foreign and local) in Singapore?2020-11-16T10:23:37+08:00

A company, regardless of whether it is a local or a foreign company, will be taxed on its:

  • income accruing in or derived from Singapore; or
  • income received in Singapore from outside Singapore
How income is assessed?2020-11-16T10:24:09+08:00

Income is assessed on a preceding year basis. This means that the basis period for any Year of Assessment (YA) generally refers to the financial year ending in the year preceding the YA. 

Where to apply for some tax incentives?2020-11-16T10:24:40+08:00

There are various types of tax incentives available to companies. These are provided in the Singapore Income Tax Act (ITA) and Economic Expansion Incentives Act (EEIA). Some of the tax incentives available are listed in the table below.

Governing legislationTypes of incentivesWhere to apply
ITA/S13FApproved International Shipping EnterpriseMPA
www.mpa.gov.sg
ITA/S13HApproved Venture CompanyEDB
www.edb.gov.sg
ITA/S14BFurther deduction of expenses relating to Approved Trade Fairs, Trade Exhibitions, Trade Missions or to maintain overseas Trade OfficeIE Singapore
www.iesingapore.gov.sg
ITA/S14EFurther deduction of expenses on Research and Development ProjectEDB
www.edb.gov.sg
ITA/S14OTax deduction of special reserves for catastrophic risks of approved general insurersMAS
www.mas.gov.sg
ITA/S19CWriting down allowance for cost sharing agreementEDB
www.edb.gov.sg
ITA/S43(9)Concessionary rate of tax for income of life insurance companies apportioned to policyholders
ITA/S43CConcessionary rate of tax for approved offshore general insurance companiesMAS
www.mas.gov.sg
ITA/S43CConcessionary rate of tax for approved offshore life insurance companiesMAS
www.mas.gov.sg
ITA/S43CConcessionary rate of tax for approved offshore composite insurance companiesMAS
www.mas.gov.sg
ITA/S43CExemption of tax for approved marine hull and liability insurer (onshore and offshore business)MAS
www.mas.gov.sg
ITA/S43CExemption of tax for approved offshore captive insurance companiesMAS
www.mas.gov.sg
ITA/S43CExemption of tax for approved insurer underwriting offshore qualifying specialised insurance riskMAS
www.mas.gov.sg
ITA/S43EConcessionary rate of tax for Approved Operational Headquarters (OHQs)EDB
www.edb.gov.sg
ITA/S43GConcessionary rate of tax for Approved Finance and Treasury CentreEDB
www.edb.gov.sg
ITA/S43QConcessionary rate of tax for Financial Sector Incentive CompaniesMAS
www.mas.gov.sg
ITA/S43PApproved Global Trading CompanyIE Singapore
www.iesingapore.gov.sg
EEIA/ Part IIPioneer IndustriesEDB
www.edb.gov.sg
EEIA/ Part IIIPioneer Service CompaniesEDB
www.edb.gov.sg
EEIA/Part IIIBApproved Shipping Logistics EnterpriseMPA
www.mpa.gov.sg
EEIA/ Part IIIBDevelopment & Expansion IncentiveEDB
www.edb.gov.sg
EEIA/Part XInvestment AllowancesEDB
www.edb.gov.sg
EEIA/Part XIIIBOverseas Enterprise IncentiveIE Singapore
www.iesingapore.gov.sg
EEIA/Part VIAExport Service CompanyEDB
www.edb.gov.sg

 

2021-01-28T13:10:46+08:00December 16, 2014|0 Comments
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