You may find below some frequently asked questions on Singapore company taxation and our tax services.
Please send a business enquiry for immediate assistance and advice from our tax team.
1: What type of income tax services does your Firm provide?
A: We offer Personal Income Tax (including partnership & self-employed), Company Income Tax and GST services.
2: Does your firm assist in the filing of tax returns?
A: Yes, we do. We provide services that offer E-File for Personal Income Tax and Corporate Income Tax ().
The deadline for filing corporate tax returns on a prior financial period is on 30 November.
All companies are also required to file an (ECI) within 3 months of the end of the financial year.
|Tax Events||Due Date|
|e-Submission of Donation||31-Jan|
|Pay Property Tax||31-Jan|
|e-Submission of Employment Income||01-Mar|
|e-Submission of Commission||01-Mar|
|e-File ECI (Dec year-end)||31-Mar|
|e-File ECI (Mar year-end)||30-Jun|
|e-File ECI (Jun year-end)||30-Sep|
|File Form C-S or Form C||30-Nov|
|e-File Form C-S or Form C||15-Dec|
|e-File ECI (Sep year-end)||31-Dec|
3: Does your Firm provide (GST) submission services?
A: Yes, we do. This service includes GST compilation and quarterly GST F5 form submission.
|Without GIRO plan||With GIRO plan for GST payment|
|GST Accounting Period||Filing and Payment Due Date||
|GIRO Deduction Date|
|Jan – Mar||30-Apr||30-Apr||15-May|
|Apr – Jun||31-Jul||31-Jul||15-Aug|
|Jul – Sept||31-Oct||31-Oct||15-Nov|
|Oct – Dec||31-Jan||31-Jan||15-Feb|
4: Does your Firm keep up-to-date with tax law changes in Singapore?
A: Yes. Our tax professionals keep up-to-date with revised and updated local tax laws on an on-going basis.
5: My company has not filed the previous year’s tax returns. Can your Firm assist?
A: We can still assist, and we will speak on your behalf to IRAS to help you settle the company's fiscal matters.
6: My company did not make any profits during the year. Does the company need to file tax return?
A: Yes, it is mandatory. All Singapore registered companies are required to file a tax return annually.
7: Are the companies allowed to pay for accommodations and travel expenses for employees in Singapore?
A: Yes, Singapore registered companies are allowed to shoulder accommodation and travel expenses for their employees.
8: Are the employee benefits tax deductible?
A: Yes. Employee benefits or healthcare benefits qualify for tax deduction.
9: What is the tax rate for Singapore companies?
A: The Singapore corporate tax rate is 17%, and certain corporate income tax (CIT) rebate applies. Newly set up companies enjoy certain tax concession for the first three years of assessment.
10: What are the tax benefits for newly set up Singapore Company?
A: To encourage local entrepreneurship, newly incorporated companies enjoy partial tax exemption and full tax exemption.
11: My company's primary business is buying & selling of shares. Will the company be taxed on the profit?
A: The primary business activity of the company is buying and selling of shares to make a profit, and these revenue gains are taxable under S10(1)(a) of the Income Tax Act.
12: Are capital gains taxable in Singapore?
A: Gains of a capital nature are tax exempt and gains that are revenue or income in nature are taxable in Singapore.
13: For dividends paid from Singapore companies, are these dividends taxable in the hands of the shareholders?
A: Dividends received from Singapore companies are distributed to its shareholders via post-tax profits and these are tax-free in the hands of the shareholders.
14: How does the company utilise its carried forward tax losses and capital allowances?
A: Unutilised trade losses and capital allowances can be carried forward indefinitely to offset against the company's future income if the company satisfies the Shareholding Test as at the relevant dates. If there is a substantial change in its shareholders and their shareholdings, all unutilised trade losses and capital allowances will be forfeited.