Reduce your taxes & boost business profitability.
Your tax system optimised
We will help you minimise your tax liabilities in Singapore by optimising your current tax structure, including tax health check, identifying and mitigating tax inefficiencies and leaks, eliminating the risk of double taxation and more.
Identifying new opportunities
We can assist you in getting back any money you might have been unknowingly giving to the government by maximising the tax concessions, cash repatriation an incentives system.
Strategic tax planning
Our tax team will advise businesses that are making significant transactions or arranging to expand to other markets in Asia by providing tax guidance on executing them tax-efficiently.
Common questions & answers.
An audit is only mandatory if:
- A company is not private exempt
- Its turnover exceeds 5 million dollars
- Any shareholder with a stake of at least 5% requests one. However, all private exempt companies must prepare a report with annual accounts in accordance with the Singapore Financial Reporting Standards (FRS), signed by 2 Directors on behalf of the company (Sole director will sign singly). FRS accounts have to be filed with our local tax authorities, Inland Revenue Authority of Singapore (IRAS).
- Charge GST for standard-rated supplies
- e-File accurate GST returns and pay the tax due in a timely manner
- Keep business and accounting records
- Display price with GST
- Issue tax invoices and reflect GST Registration Number
- Inform IRAS of changes
- Accounting for GST on business assets held at point of de-registration
- Additional obligations under voluntary registrationIf you are under voluntary registration, you have to:
- Remain registered for at least two years
- Make taxable supplies within two years if you have not started making taxable supplies at the point of application)
- Complete the e-learning course “Introduction to GST” within three months from the effective date of registration
- Be on GIRO arrangement for payment and/ or refund of GST
- The Comptroller may also impose other conditions on voluntarily registered business and may cancel his GST registration if any of the conditions is not met