Corporate Income Tax

Corporate Income Tax

It is a mandatory requirement for every business entity in Singapore to perform tax filing annually.

Corporate Income Tax

Our taxation specialists can assist you in all respects of your corporate taxes. We will advise you how to obtain the optimum tax benefits.  Most notworthly, we also offer full compliance on all levels, while ensuring you meet proper deadlines and guidelines.

The current corporate tax rate is 17%.   The company can enjoy the partial exemption and tax exemption for new start-up companies.

Five Tips on Filing Corporate Tax

The scope of our tax services inclusive of:

  • Reviewing of statutory financial statements for an appropriate presentation from the tax viewpoint.
  • Completion of Company Income Tax Return for Corporate (Form C-S /C).
  • Preparation of tax computation and supporting schedules.
  • Submission of Company Income Tax return and tax computation with schedules to the Comptroller of income tax.
  • Verification of Notice of Assessment (NOA) issued by the Comptroller.
  • Attending to tax inquiries raised by the tax authorities and replying thereto.
  • Filing of Estimated chargeable income (ECI) for Corporate.

PIC Cash grant per submission pricing:

  • First 15 items – $350
  • Every additional 15 items – $200

IMPORTANT NOTICE:

The PIC scheme will expire after YA 2018.  In addition, businesses who wish to elect for cash payout option on qualifying expenditure must incur the expenditure by the last day of the basis period for YA 2018.

The PIC cash payout conversion rate is 40% for expenditure incurred on or after 1 Aug 2016. Expenditure incurred after the basis period of YA 2018 will not be eligible for PIC cash payout.  Hence, the eligibility for cash payout is determined based on the date when the expenditure is incurred and not the date of submission of the cash payout application.

For example:

First of all, to qualify for the PIC scheme, a company with the financial year end of 31 Dec must incur the qualifying expenditure by 31 Dec 2017 (last day of the company’s basis period for YA 2018). For YA 2018 PIC cash payout, the application form can be e-Filed anytime after the end of the relevant quarter of YA 2018.

The last day to e-File the form is the filing due date of the YA 2018 Income Tax Return. Expenditure incurred from 1 Jan 2018 onwards will not qualify for PIC benefits.

Contact us now. Our tax experts can help you achieve better control over tax matters or issue and customises tax services to meet the needs of your business.

Corporate income tax services
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