Our Tax Services
For all companies incorporated in Singapore, there are two main tax obligations that a company might be subjected to and is required to file with the Inland Revenue Authority of Singapore (IRAS). These are namely the Corporate Income Tax (CIT) and Goods and Services Tax (GST). For most SMEs in Singapore, these tax preparation services can be done in-house with a full time tax accountant or through a tax accountant that is outsourced to an accounting company that provide such tax services.
Due to the timing nature of tax filing in Singapore which is annual filing for Corporate Income Tax and quarterly for Goods and Services Tax, these tax preparation services are usually outsourced to an accounting firm that provide such tax services.
I&S has a pool of tax consultants that can provide any company incorporated in Singapore the necessary tax preparation services and tax advisory services.
For tax services, a majority of our clients are SMEs which do not have the operational capabilities or financial budget to do it in-house as such, we are able to provide a streamlined approach for doing tax services that is both cost efficient and reliable.
I&S is currently placed as the top ten firms in Singapore for accounting and tax services for cost efficiency. I&S achieves strong price advantage and process through working closely with clients to develop a routine process that enhances output work.
Corporate Income Tax (CIT)
The first mandatory tax that all companies is subjected to and is mandated to file is the Corporate Income Tax. The current Corporate Income Tax rate is 17%, which have been effective from the Year of Assessment 2010. The previous Corporate Income Tax rate are 18% from 2008 to 2009 and 20% from 2005 to 2007. There are also tax rebates for all companies for the taxable income taxed. For more details, you may like to seek advice from a tax accountant who is specialized in such tax services or you may also go check it out directly with IRAS.
|Corporate Income Tax Packages Available||Our Fee (SGD)||Market Rate (SGD)|
|Tax computation for Active Company||From $300||From $700|
|Tax computation for Dormant Company||From $150||From $500|
Goods and Services Tax (GST)
The second mandatory tax for companies who are GST registered is the quarterly submission of the Good and Services tax. There are two kinds of companies who applies to be GST registered, these are either mandatory registration or voluntary registration. A tax consultant who is qualified to prepare such tax services will be able to provide you the tax advisory services that you will need to know. The main condition for mandatory GST registration is an annual turnover exceeding $1 million, your tax consultant should be able to provide are mainly the obligations on whether you are required to be GST registered, timing for registration and rectifying late registration. Also for voluntary registration, the tax consultant should be able to lay out key points based on your business structure to make a decision.
|GST Packages Available||Our Fee (SGD)||Market Rate (SGD)|
|Voluntary Registration of GST||$350||$600|
|Mandatory Registration of GST||$650||$1000|
|Quarterly GST Preparation For Submission||From $130||From $150|
|GST e-Filing with IRAS||Free||$25|