Personal Tax

Singapore Personal Income Tax structure is one of the friendliest and most competitive in the world.

To fully understand and utilize this structure, we offer various services along with advices and possible action whenever you need.

  • Preparation of Form IR8A/IR21 for employees
  • Preparation and filing of income tax return & Determination of possible deductions and reliefs
  • Tax planning

How you run your business might impact your taxes. By having an effective tax planning closely linked with your financial plan, you can improve cash flow, maintain financial health as well as your goal are partly guaranty.

How can we help:
Based on your business plan, we consult you about the tax might arise and plan the tax-efficient transactions along with effective financial plan for your business.

ESTIMATED CHARGEABLE INCOME (ECI)

ECI is an estimate of a company’s chargeable income for a Year of Assessment (YA). IRAS requires all companies to file their ECI within three months after their financial year-end.

IRAS provides flexible payment options for companies that submit early their ECI statements: paying tax in installments. The earlier the ECI statement is submitted, the higher the number of payment installments allowed.

GOODS AND SERVICE TAX (GST)

GST is atax charged on the supply of goods and services made in Singapore and on the importation of goods into Singapore (except some items are exempt from GST by law). The current rate for GST is 7%.

Your business must be registered to collect GST if your annual turnover exceeds or is likely to exceed S$1 million from the sale of taxable goods and services. This requirement may be waived if most of your goods or services are exported or supplied internationally (“zero-rated supplies”).

For more information about the Singapore Corporate Tax Regulation, you can visit the Singapore Inland Revenue Authority of Singapore.