Taxation Services in Singapore - Professional and Compliant Tax Services

Incorporating a company in Singapore offers significant benefits, including one of the lowest corporate tax rates globally. Singapore's taxation system is highly business-friendly, with taxes imposed on income earned locally and certain foreign-sourced income remitted to the country, subject to qualifying exemptions.

At Apexia Corporate Advisory, our team of experienced tax consultants ensures that you maximize these benefits while staying compliant with Singapore's tax regulations. We provide a comprehensive range of tax and accounting services tailored to your business needs.

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Why Singapore is a Low-Tax Jurisdiction

Singapore stands out as a premier low-tax jurisdiction for businesses and investors due to the following key features:

  • Low Corporate Tax Rates: Singapore offers one of the world's lowest corporate tax rates, capped at 17%.
  • Territorial Tax System: Taxes are levied only on income earned or derived within Singapore, making it highly advantageous for companies with international operations.
  • No Capital Gains Tax: Investors and businesses enjoy tax-free capital gains, encouraging long-term investments.
  • Tax Incentives and Exemptions: Singapore provides extensive tax incentives and exemptions to stimulate economic growth, innovation, and entrepreneurship.
  • No Inheritance Tax or Estate Duty: Estate duty was abolished in Singapore on February 15, 2008. This means that there are no taxes levied on the assets of a deceased person being passed on to their beneficiaries, regardless of the asset's value.

Our Comprehensive Singapore Taxation Services

Our expert team offers the following tax advisory and compliance services:

  • Corporate Tax Filing
  • Estimated Chargeable Income (ECI) Submission
  • Withholding Tax Filing and Compliance
  • Personal Income Tax and Expatriate Tax Filing
  • Goods and Services Tax (GST) Filing
  • Transfer Pricing Documentation and Compliance
  • Tax Audit and Investigation Services
  • Cross Border and International Tax Advisory
  • Tax Due Diligence

Corporate Tax Filing in Singapore

All companies in Singapore are required to file their annual corporate tax returns with the Inland Revenue Authority of Singapore (IRAS) . Key details include:

  • Deadline: 30th November annually.
  • Basis of Taxation: Singapore follows a preceding year basis for taxation, meaning profits from the prior financial year form the basis for the current year's filing.

Our specialists ensure accurate and timely corporate tax submissions, helping your company stay compliant while optimizing tax liabilities.
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Personal Income Tax Filing

Singapore adopts a progressive personal income tax system, with rates ranging from 0% to 24% based on annual earnings. Filing requirements include:

  • Paper Filing Deadline: 15th April annually.
  • e-Filing Deadline: 18th April annually.

Our tax experts simplify the process, ensuring that your personal tax returns are filed accurately and on time.
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Goods and Services Tax (GST) Filing

Goods and Services Tax (GST) , similar to Value Added Tax (VAT), is a consumption tax applied to most goods and services in Singapore. Key points to note:

  • Current GST Rate9% (effective 1st January 2024).
  • GST Filing Deadline: GST returns must be filed and taxes paid one month after the end of each accounting period.

Our team helps businesses with GST registration, filing, and compliance to avoid penalties.
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Transfer Pricing Documentation

Transfer pricing involves pricing transactions of goods, services, and intangibles between related parties. Key compliance requirements include:

  • Transactions must comply with the arm's length principle.
  • Taxpayers must maintain proper transfer pricing documentation to justify pricing arrangements.

We assist companies with transfer pricing strategies, documentation, and compliance, ensuring alignment with IRAS guidelines.
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Estimated Chargeable Income (ECI) Submission

ECI is the estimated chargeable income for a company's Year of Assessment (YA). Compliance details include:

  • Submission Deadline: Within 3 months from the end of the financial year.
  • Required for all companies unless exempted by IRAS.

We streamline the ECI submission process, ensuring accuracy and adherence to IRAS timelines.
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Withholding Tax Compliance

Under the Singapore Income Tax Act, withholding tax is applicable when specific payments are made to non-resident companies. Key points include:

  • Tax Rate: Varies between 10% to 17%, depending on the nature of the payment.

As trusted tax agents, we manage the complexities of withholding tax, ensuring full compliance with IRAS regulations.
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Why Choose Apexia Corporate Advisory as Your Trusted Tax and Accounting Partner in Singapore?

At Apexia Corporate Advisory, we are dedicated to delivering top-notch tax advisory and compliance services tailored to businesses of all sizes. Our team of experts offers:

  • Corporate Tax and GST Filing: Timely and accurate submissions to meet regulatory requirements.
  • Comprehensive Services: From company incorporation and tax advisory to XBRL filing and GST registration.
  • Personalized Support: Our consultants take the time to understand your unique business needs and provide customized solutions.
  • Extensive Expertise: Backed by years of experience, we ensure businesses remain compliant while optimizing tax strategies.

Get in Touch Today. Partner with Apexia Corporate Advisory to navigate Singapore's tax landscape confidently. Whether you are a local SME or an international corporation, our professional tax and accounting solutions empower your business growth.

Contact us now for a consultation and let our experts help you achieve tax efficiency and regulatory compliance in Singapore.

How we benefit you

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Apexia Corporate Advisory is committed to excellence in providing Corporate Secretarial and Accounting services to enterprises across the spectrum. Our rigorous attention to detail ensures that every financial report and filing meets the highest standards of accuracy, fostering client trust and corporate pride.

We offer a broad range of services tailored to meet the diverse needs of our clients, from individual entrepreneurs to large corporations, ensuring all business and partnership tax and accounting requirements are managed with professional precision and expertise.

Get Started Today!

Contact us now to explore how we can simplify your business operations and fuel your success; Email us at info@apexiacorp.com.