Pre-business inception consultation

The beginning is always the best time to ask questions! We listen to your business plans and provide you with comprehensive information on the appropriate business structure, income and expense recording, payroll related matters, compliance reporting obligations etc. Good planning right from the start can help you achieve tax efficiency.

Business and tax consultation

Making a big purchase for your business and would like to better understand what business and tax implications there could be? Approaching your financial year end and would like to have a chat to see if there could be ways of maximizing any business or tax claims? The best way to protect your business is to make wise business decisions based on sound advice. Schedule a consultation with us every quarterly, half-yearly and just before the business financial year ends.

INCOME TAX SERVICES

Income tax advice & tax return filing

We provide income tax advice and tax return filing services to Companies, Partnerships, Sole Proprietorships and Individuals. In a timely, accurate and compliant manner because like all business owners, we value that peace of mind.

Withholding tax

When making payments to overseas non-residents, these occasionally trigger withholding tax filing requirements. We provide withholding tax analyses, including completing the tax filing process for you.

Not Ordinarily Tax Resident (NOR) scheme

This scheme awards qualifying individuals tax exemption on the portion of Singapore employment income that corresponds to the number of days spent outside Singapore for work purposes. The tax savings are usually tangible.

Key conditions:-

• You are a tax resident in the Year of Assessment which you first qualify for NOR status; and a non-resident for the past 3 Years of Assessment before;

• Spent at least 90 days annually outside Singapore for business reasons; and

• Total annual employment income must be at least $160,000 (exclude Director’s fees and income tax in Singapore that is borne by your employer). Should the tax rate be less than 10% on the apportioned income, you will be subject to a 10% tax rate on your employment income.

The NOR scheme is set to lapse after YA 2020. The last NOR status will be granted for YA 2020 and expire in YA 2024.

Contact us to evaluate and determine if you qualify for this scheme. We can assist with the application and annual filings

Waiver of Shareholder's Test

The sale and purchase of shares in a company may at times result in a substantial change in shareholders and their respective shareholdings. Any unutilised tax loss items are hence forfeited. We can help you draft an application to IRAS for a waiver of shareholder’s test and allow these tax loss items to be available for use.

Certificate of Residence (COR)

To enjoy reduced tax rates accorded under the Double Taxation Agreements, the tax authority in the overseas jurisdiction usually requires a COR to be issued by IRAS. We can advise and assist with this application.

Tax due diligence

Before taking a leap to buy over an existing business, do check for legacy issues and outstanding tax matters. Our tax due diligent review can uncover such risks, so you are aware of the potential tax implications before proceeding with the deal.

Voluntary Disclosure Programme (VDP)

When errors are made when submitting a tax return, the next best step is to rectify them. Under the VDP, the IRAS can grant a full waiver of penalty or reduced penalties. We can assist taxpayers with this application and regain a clean tax record maintained with IRAS.

Tax workshops

These 2 hour workshops usually focus on Tax changes and a re-cap on existing tax practices. Suitable for Business Owners, Accounts and Tax teams. Of course, there is a Q&A at the end where we address any burning questions which you may have.

Basic tax training

This is a full day course suitable for inhouse Accounts and Tax teams as we learn the following:-

• Tax treatments of income and expenses,
• Capital allowances claims,
• How to complete the tax return (Form C or Form C-S), and Hands-on practice : Prepare a tax computation

We can work with you to formulate a lesson plan that caters to your participants’ learning needs.

For schedule of upcoming workshops, click the button below: