Taxation

Taxation Services

Singapore’s corporate income tax is among the most competitive globally. The nation’s economic environment, combined with lower corporate tax rates, is conducive to the establishment and growth of small and medium-sized enterprises by both local and foreign entrepreneurs. Singapore’s flat-rate, one-tier, territorial-based corporate tax system is especially beneficial for new startup companies.

With our team of experts, you can benefit from Singapore’s business-friendly taxation policies. Aided by a sound understanding of Singapore’s regulatory tax landscape, we offer the following range of tax advisory services.

Our company income tax services include:

What makes Singapore's tax system appealing for businesses and investors?

Singapore offers an attractive business environment, drawing global investments due to its tax structure. The single-tier tax system, various tax incentives, and competitive corporate income tax rates make it appealing for entrepreneurs to establish their operations in Singapore.

How does a company's location affect its tax status in Singapore, and what benefits do resident companies have in taxation?

Whether a company is a tax resident or non-resident of Singapore is determined by its control and management location. Although the taxation rules for both types of companies are mostly similar, some benefits are exclusive to resident companies, such as tax exemption schemes for new start-ups, tax exemptions on foreign branch profits and foreign-sourced services, and eligibility for benefits under the avoidance of double taxation agreements.

What are the primary tax obligations that Singapore-registered company should be aware of?

Singapore-registered company must be aware of their tax obligations. These obligations generally consist of corporate income tax, with a current rate of 17%, and goods and services tax (GST), with a current rate of 8%. All GST-registered businesses in Singapore must account for 8% GST on sales of goods and services, with specific exemptions.

How can your services help my Singapore-registered company with annual tax obligation?

By engaging us as your tax filing service provider, we help you stay ahead of your tax liabilities and file your taxes on time to avoid penalties. We are aware that all Singapore-registered companies must submit tax returns to IRAS annually. Our standard plan covers tax computation, filing of Form C-S, Form C, and timely report submissions.

Taxation Services in Singapore

Offered by Cosoc

Today, even small businesses in Singapore want to outsource their non-core tasks like bookkeeping & accounting. Appointing of experienced accounting services providers enables them to focus on their main business goals like customer satisfaction and business profit.

Corporate Tax Filing

All companies must submit annual corporate tax returns to the Inland Revenue Authority of Singapore (IRAS). The deadline to submit audited or unaudited accounts is usually

Popular

Personal Income Tax Filing

Singapore adopts a progressive personal tax rates, relative to an individual’s income. It is mandatory to file for your annual personal tax returns

Goods and Services Tax

Goods and Service Tax (GST), similar to the Value Added Tax (VAT) in many countries, is a consumption tax on most domestic goods and services.

Transfer Pricing

The pricing of services, goods and intangibles that happen to related parties is called Transfer pricing. Related parties should adopt transfer pricing.

Estimated Chargeable Income Submission

ECI, also known as Estimated Chargeable Income (ECI), is an estimate of a company’s chargeable income for a Year of Assessment (YA).

Withholding Tax

According to Singapore’s Income Tax Act, a person must withhold tax when payment of a specified nature is made to non-residents companies.

Taxation

Our Taxation & Accounting Services

Low corporate tax rate is one of the biggest benefits of incorporating a Singapore company. The tax is imposed on all income accrued in or derived from Singapore, as well as on all foreign-sourced income remitted to Singapore, with certain qualifying exemptions.

Taxation Services in Singapore