Benjamin Franklin famously said that two things are certain in life, and one of them is taxes. Rather than stressing out over this area of statutory compliance, our clients can decide to outsource the task to us.
We assist our clients in the preparation and filing of their annual income tax computations and income tax returns. This includes follow up with the Inland Revenue of Singapore (IRAS) on any issues that may arise.
Goods and Services Tax (GST)GST is one of the more complex parts of the tax system. We assist clients to assess if they have reached the threshold for GST registration and thereafter, assist them to submit the GST Registration or apply for exemption if this is applicable.
Once registered, the client needs to submit a GST return every quarter which we can also assist with, to ensure the filing deadline is not missed as any late filing will result in fines. Our GST audit process is designed to look out for any possible errors in GST returns, in order to mitigate any possible penalties under the Voluntary Disclosure Programme.
We also provide a service to review GST returns prepared by client staff, with the aim to minimise errors in the GST returns. Additionally, we also offer the services of a GST tax agent under section 33(1) of Goods & Services Tax Act (CAP 117A) which is typically needed by clients without a physical presence in Singapore.
We provide assistance to clients who may be selected by the IRAS in their annual review of selected tax submissions. This can be assistance to prepare the responses, or to review responses prepared by the clients themselves. Our clients can seek tax advice before entering into any transactions in order to minimise tax liability and/or prevent any unplanned tax exposure.
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