Tax Services in Singapore
We are Accredited Tax Professionals
As tax professionals accredited by the Singapore Institute of Accredited Tax Professionals (SIATP), we have an extensive knowledge of the tax system to help you fulfil your tax obligations. In addition to tax compliance, our service also includes providing advice in accordance with tax laws around tax planning to facilitate your business growth.
Feeling Overwhelmed as the Tax Filing Deadline Approaches?
Tax compliance has become more complex under the scrutiny of the Inland Revenue Authority of Singapore (IRAS). You find it challenging to keep up with changing tax rules and various tax deadlines applicable to your business. Companies may incur penalty due to late submission or incorrect return.
For trusted tax advisory services, outsource your tax function to us and you no longer have to stress over tax-related matters.
We provide corporate tax services to businesses ranging from start-ups to small and medium enterprises. We can help you meet your annual tax compliance so that you could focus on your business while staying on top of the tax matters.
Goods & Services Tax (GST)
GST is a tax on domestic consumption. It is levied on nearly all supplies of goods and services in Singapore, as well as import of goods into Singapore. GST is charged at 7% for standard-rated supplies. If your company has a taxable turnover of over S$1 million in a calendar year, you have to register for GST and comply with the filing requirements. There are scenarios where you may opt to register for GST voluntarily for business reasons, even though your business does not exceed S$1 million.
Tax on Singapore Property
Singapore properties have always been highly sought after among local and overseas investors. Our team is equipped with vast knowledge of the property market and its relevant taxes to offer advice to both local and foreign property investors. If you receive rental income from a Singapore property, you are liable to pay income tax in Singapore.
We offer tax planning around income tax for landlords deriving rental income from Singapore properties and GST services applicable to commercial properties. We also deal with IRAS on property tax matters, including filing objections.
Annual Tax Package
Our tax package is perfect for business owners who have done their accounting for the year, and require support on tax filing.
from S$350 per year
- Tax Computation
- Filing of Estimated Chargeable Income (ECI)
- Filing of Form C-S
from S$900 per year
Comprehensive plan covers all mandatory annual filing to the 2 government authorities, IRAS and ACRA.
Everything in Standard plan plus:
- Corporate Secretary Services
- Compilation of annual financial statements (these accounts are required to be adopted at AGM and filed together with the Annual Return to ACRA)
Our annual tax package covers your company’s typical filing requirements. There may be other additional services that you may need which we would cover them here.
Tax on Singapore Property
We offer tailored tax solutions for your properties in Singapore. Our tax services include:
- Tax planning for commercial property investors and claiming back GST paid when purchasing the properties
- Personal tax planning for local and foreign investor deriving rental income from Singapore properties
- Dealing with IRAS on matters relating to your properties in Singapore
FAQs about Tax in Singapore
There is a flat rate of 17% on chargeable income for businesses in Singapore.
According to IRAS, you will have to file your first Income Tax Return upon closing your first set of accounts. Take note that there are some tax incentives available for start-up companies to take some weight off your shoulders. For instance, the Tax Exemption Scheme for New Start-Up Companies will give you a 75% exemption on the first S$100,000 of your chargeable income and subsequently a 50% exemption on the next S$100,000. To find out if you are eligible, your Chartered Accountant can advise you with up-to-date knowledge and financial expertise.
If you have yet to have your own accountant, it is best to engage a qualified accounting expert to provide you with accurate and informed advice. With Chartsworth’s tax advisory services, our team of Chartered Accountants can handle your annual filing of requirements and tax matters for a fixed fee so you can have peace of mind.
From $350 per year, our standard tax package covers the mandatory tax filing to IRAS, which will include Tax Computation, Filing of Estimated Chargeable Income (ECI) and Filing of Form C-S. With your financial interests as our top priority, we will save you a massive amount of time and money while you focus on your business goals. Beyond tax services, we also offer accounting, incorporation and corporate secretarial solutions tailored to your business needs.