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Our Tax & Accounting Services
Low corporate tax rate is one of the biggest benefits of incorporating a Singapore company. The tax is imposed on all income accrued in or derived from Singapore, as well as on all foreign-sourced income remitted to Singapore, with certain qualifying exemptions.
With our team of experts, you can benefit from Singapore’s business-friendly taxation policies. Aided by a sound understanding of Singapore’s regulatory tax landscape, we offer the following range of tax advisory services.
Why is Singapore considered a Tax Haven?
Singapore is renowned as a tax haven for several compelling reasons:
• Low Corporate Income Tax Rates: Singapore boasts one of the world’s lowest corporate income tax rates.
• Territorial Tax System: The country operates under a territorial tax system, which means taxes are imposed solely on income generated within or derived from Singapore, providing an advantageous tax structure.
• No Capital Gains Taxes: Singapore does not impose capital gains taxes, making it attractive for investors and businesses.
• Tax Incentives and Exemptions: Singapore offers a range of tax incentives and exemptions aimed at stimulating economic growth and fostering innovation.
Our Singapore Taxation Services:
Singapore Corporate Tax Filing
All companies must submit annual corporate tax returns to the Inland Revenue Authority of Singapore (IRAS). The deadline to submit audited or unaudited accounts is usually on the 30th of November annually. Singapore adopts the preceding year basis taxation. Therefore, the profits for the financial year ending in the preceding year will form the basis for filing the corporate tax returns in the current year. Learn More »
Personal Income Tax Filing
Singapore adopts progressive personal tax rates, relative to an individual’s income. It is mandatory to file for your annual personal tax returns (paper filing) to IRAS by the 15th of April of every year. And if filed electronically, the deadline extends to 18th April. Our team of professional tax consultants can help you with the requirements related to tax services in Singapore. Learn More »
Goods and Services Tax
Goods and Service Tax (GST), similar to the Value Added Tax (VAT) in many countries, is a consumption tax on most domestic goods and services. Singapore’s GST is at 9% (w.e.f. 1st January 2024). It is essential to e-file your GST returns and pay the taxes by the due dates. The due dates are always one month after the end of the accounting period. Learn More »
Transfer Pricing
The pricing of services, goods and intangibles that happen to related parties is called transfer pricing. Related parties should adopt transfer pricing. Taxpayers should prepare and keep transfer pricing documentation ready to show that their related party transactions are conducted at arm’s length principle. Learn More »
Estimated Chargeable Income Submission
ECI, also known as Estimated Chargeable Income (ECI), is an estimate of a company’s chargeable income for a Year of Assessment (YA). Every company is required by IRAS to submit an ECI within 3 months from the end of each financial year. Learn More »
Withholding Tax
According to Singapore’s Income Tax Act, a person must withhold tax when payment of a specified nature is made to non-residents companies. This is called the Withholding Tax, whose rate depends on the nature of payment, and varies from 10% to 17%. Our reputation as one of the leading Singapore tax agents and corporate services provider is unmatched, and we can help you deal with the intricacies of Withholding Tax in Singapore. Learn More »
Why choose Rikvin as your trusted taxation service provider in Singapore?
Rikvin offers top-tier company incorporation services in Singapore, backed by industry experts with extensive expertise in assisting corporate clients. Our services extend to professional corporate tax filing services, company registration, GST registration, XBRL filing, and more. Our dedicated business consultants work closely with you to thoroughly understand your unique business needs. They bring a wealth of knowledge to the table, guiding you through every step of company incorporation in Singapore.
Calculate your taxes simply with our Corporate Tax Calculator
FAQ about Taxation Services in Singapore
- Tax services encompass a range of financial and advisory services designed to help businesses comply with Singapore’s tax laws, optimise tax planning, and minimise tax liabilities. They are crucial for businesses to ensure they meet their tax obligations efficiently and effectively while maximising their financial health.
- The process involves preparing financial statements, computing taxable income, completing the Corporate Income Tax Returns (Form C/C-S/C-S (Lite)), and submitting it to the Inland Revenue Authority of Singapore (IRAS). Our team can assist you at every step.
- Tax compliance in Singapore refers to the process of adhering to the tax laws and regulations set by the Inland Revenue Authority of Singapore (IRAS) and other relevant authorities in the city-state.
It involves fulfilling all necessary tax-related requirements to ensure that individuals and businesses are in line with Singapore’s taxation system. This includes accurately reporting income, calculating taxes owed, and submitting the required annual returns and payments within the specified deadlines.
Client Success Stories
Our experience of Rikvin has been excellent. Team Rikvin provided exceptionally professional and timely advice in the process of setting up my law practice, including handling all aspects of incorporation, accounting, tax and compliance, and HR issues.”
Abraham Vergis, Managing Director,
Providence Law Asia LLC
We got a referral from several business partners and our experience so far has been excellent. We have consulted several incorporation service providers but none has matched the promptness and service level we received from Rikvin.”
Juliana Bernard-Brunel, Director,
Simpleshow Asia Pte Ltd
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