TAX ADVISORY SERVICES |

CORPORATE TAX COMPUTATION & SUBMISSION

According to the statutory requirements of Singapore Income Tax Act, all incorporated companies are required to submit annual tax return and Form C to Comptroller of Income Tax.

Koh Management helps ensure that our clients comply with these requirements and minimize the possibilities late submission penalties through corporate tax services Singapore.

Tax planning can be important to most companies as tax laws can change every few years and to fully take advantage of the tax breaks or advantages given, it might allow entrepreneurs to save up on certain tax amounts which can be reinvested into the company.

 

Having 30 years in the industry our chief consultant Mr Koh Swee Hock is a certified Tax practitioner who can assist you with tax advisory as well as tax planning services | Tax consultancy services. 

 We provide the following corporate taxation services:

  • Company and personal tax compliance

  • Preparation of tax return for Individuals, Sole proprietorship for Comptroller of Income Tax Submission

  • Preparation of tax return for Partnerships for Comptroller of Income Tax Submission

  • Preparation of Company tax return for Comptroller of Income Tax Submission

  • Filing of estimated chargeable income

  • Applicable tax incentives advisement

  • GST registration with Comptroller of GST (a Company is required to register for GST purposes when you hit $1 Million in revenue for the 12 months period preceding the registration)

  • Preparation and submission of GST returns on a quarterly basis (we can assist with the registration and quarterly submission of GST filings)

Key Points on Singapore Corporate Income Tax:

1. Singapore Corporate Tax Rate

A company is taxed at 17% flat rate on its chargeable income regardless of whether the company is a local or foreign company.

2. Newly Registered Companies enjoy full tax exemption

From 2010 onwards, newly registered companies can enjoy tax exemption on the first $100000 chargeable income for the initial 3 years.

3.  Tax exemptions conditions:

A private company registered in Singapore.

Has less than 20 individual shareholders and one shareholder hold minimum 10% of the ordinary shares issued of the company.

In that year of assessment, the company is considered as Singapore tax resident.

4.  Singapore has no capital gain tax

5. Income tax is paid by a company on its chargeable income

There is no tax on dividend payment.

6.  A company is Singapore Resident for tax purposes when:

Board meetings take place in Singapore

Manage and control are exercised in Singapore

Koh Management also offers Singapore Tax advisory services for individuals and corporate that wish to have a proper structure for their tax submission needs. Tax planning is part of the many methods to help you save on taxes by maximizing legal tax benefits given to you by the Inland Revenue Authority of Singapore. 

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