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Corporation Tax Filing Services
Meet IRAS filing deadlines with ease using the tax computation and accompanying tax schedules prepared for you in accordance with Singapore Income Tax Act:
Filing of Estimated Chargeable Income (ECI) 3 months after financial year end
Submission of annual corporate tax returns (Form C-S/C)
Choose between annual, quarterly or monthly reporting packages to best meet your business needs.
If you are running a business, you might be handling many different responsibilities on your shoulders. If you decide to handle everything on your own, it might leave you feeling frustrated. Do you feel that you're not able to pay as much attention to certain aspects of your business when you are required to take on the role of accounting and tax filing for business? Why worry about that when you can hire companies that will be able to help file taxes and handle your finances and accounts. Moreover, tax accounting in Singapore requires you to be aware of the evolving tax legislation. Outsourcing this to a tax accountant meant that they will be able to come up with solutions that will be advantageous to your business.
Outsourcing corporation tax services can have a positive impact on your business as it saves you time and money, and helps you stay focused on your business operations. Whether you are a Singapore resident or a non-resident businessman, hiring a tax accountant in Singapore is beneficial for your business.
The Tax System of Singapore
Singapore provides a business-friendly environment and continues to attract global investments due to its tax regime. The one-tier tax system, various tax incentives, and reduced corporate income tax rates gives good reasons for businessmen to establish their operations in Singapore.
Singapore has a single-tier income tax system which means there is relaxation for stakeholders i.e., no double-taxation.
Tax obligations for businesses in Singapore
If you are running a business in Singapore, then you must be aware of your tax obligations because you wouldn't want to pay unnecessary taxes.
Types of Tax Obligations for Businesses
Generally, there are two types of obligations that a resident or non-resident company has to pay to Inland Revenue Authority of Singapore (IRAS).
Corporate income tax
The current corporate tax rate is 17% which can be lowered with the help of tax incentives offered by the Singapore government.
Goods and services tax
The current GST rate is 7%, and all Singapore GST-registered businesses are required to charge and account for GST at 7% on all sales of goods and services in Singapore subject to some exemptions.
Taxation for a resident and non-resident company
A company either qualifies as a tax resident or non-resident of Singapore, depending upon its area of control. The company qualifies as a tax resident of Singapore if it is controlled and managed within the country.
The rules for taxation for a resident and non-resident company are almost the same, except for some of the benefits which are available to resident companies only.
A new start-up resident company is eligible for a tax exemption scheme.
Under section 13(8) of the Income Tax Act, a resident company is eligible for tax exemption on foreign branch profits and foreign-sourced services.
A resident company can qualify for benefits conferred under the avoidance of double taxation agreements (DTA)
Get Help from Corporation Tax Services Providers
Gone are the days when you had to spend hours collecting information about tax filing and tax regulations. With our help, you will never have to worry about handling your accounts.
When it comes to tax filing for business, you must hire reliable companies that file taxes to ensure the safety and security of your business. Companies that file taxes help you to stay compliant with the Singapore Income Tax Act. They plan and manage everything for you from Keeping up with your finances, to manage tax filing and tax advisory services. At Ascension Corporate Services, we know the importance of tax filing for business, and we ensure that you get effective tax accounting assistance.
The tax system of Singapore changes constantly so, be sure to hire someone who has updated information about the tax system and legislation to eliminate the chances of errors in your accounts. We understand the complex tax system of Singapore, and we have qualified staff who knows everything about the tax system of Singapore and can resolve your taxes and accounting in the most efficient way possible.
Tax Compliance
Once you hire us as a tax filing service provider for your business, we will help you in staying ahead of your tax liabilities and file your taxes in time to save you from penalties. Moreover, we know that all Singapore-registered companies must do timely annual submissions of tax returns to IRAS. We also have a standard plan for tax computation, filing of Form C-S, Form C, to cover tax filing and sending of reports on time.
Tax Advisory
You can reduce your tax obligations if you are well informed and have proper tax planning strategies. Our tax accountant Singapore will be able to provide you with tax advisory and come up with strategies that will optimize your tax position. Efficient planning ensures that you pay taxes on time and avoid any unnecessary payments unknowingly.
Stay Ahead With us in Planning Your Taxes.
Do you find it hard to keep up with your taxes? No doubt, the Singapore tax system is quite confusing and will leave you struggling with the various tax forms. But with our corporation tax services, you can ensure to get your taxes organized, filed, and submitted to IRAS on time. Our accountants will come up with strategies so that you can benefit from Singapore's tax policies. We are helping countless businesses with our corporation tax services, and the reason why they trust us is that we handle tax filing in ways that offer a positive solution for business.
Are you facing problems with tax filing and fear that you are paying unnecessary taxes? Stress no more; we are here to ensure that you get the right solution for your problem so you can remain stress-free and focus on your business.
For more information, contact our team now to make ever-lasting improvements in your business. We look forward to working with you.
