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Start paying less taxes today - save money from day one with any of our tax filing packages
When you choose us for tax filing services in Singapore, we'll support you every step, ensuring accurate filings and full compliance with IRAS regulations.
Our consultants will sit down with you to understand your business and assess your eligibility for numerous tax incentives and rebates schemes that will substantially reduce your tax burden.
We will compute for your Estimated Chargeable Income (ECI) to estimate your company's taxable profits and income tax return.
We will file your ECI within 3 months from the end of your financial year and your income tax return (Form C-S or Form C) before 30 Nov each year.
Our mission is to ensure you pay the right amount of taxes in Singapore
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We have incorporated businesses from various industries in Singapore. Our years of experience have familiarized us with the twists and turns in incorporating businesses
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Corporate income tax flat rate is 17% however there are various tax incentives by the government specially for those start-up that can lower their tax payables.
This refers to the tax year in which your income tax is calculated and charged. The assessment is for income you have earned in the preceding calendar year.
Singapore adopts a progressive personal income tax system that ranges from 0% for the first SGD20,000 to 22% for income above SGD320,000. Capital gains, income earned overseas and dividends received from a Singapore company is not subject to personal tax in Singapore.
The process of paying corporate taxes in Singapore starts with filing an Estimated Chargeable Income (ECI) form with IRAS within three months of the financial year end. This form provides an estimate of the company's chargeable income.
Following that, the company needs to use the myTax Portal to submit its annual income tax return to IRAS. In contrast to the ECI, which is an estimate of the company's income, the Income Tax Return reports the company's actual income.
After filing the required forms, the company will receive a Notice of Assessment (NOA) from IRAS. This NOA is intended to provide a thorough breakdown of the company's tax liabilities and to give the company the chance to object to IRAS' tax assessment if it chooses to do so.
If there are no concerns stated in the NOA, the company has 30 days from the NOA's date to pay the assessed corporate tax. You can do this in a number of ways, such as interbank GIRO, online banking, check, or telegraphic transfer available in Singapore.
If you are new to Singapore tax, keep in mind that these 2 forms of tax returns have separate due dates. As a top provider of corporate tax services in Singapore, WealthBridge will help you with the following filings:
(1) ECI tax return; within three months of the end of your business's fiscal year,
(2) Form C/C-S/C-Lite; on or before the 30th of November each year.
Depending on the Financial Year End (FYE) a company chooses, the ECI tax filing deadline can change. Corporate tax returns must be electronically filed with IRAS starting in YA 2020.
The corporate income tax rate in Singapore is a flat 17% of taxable income. Its corporate income tax rate is among the lowest and most attractive in the world. Even so, there are strategies you can use to further cut your business income tax.
There are two corporate income tax returns: Estimated Chargeable Income (ECI) need to file within 3 months from the Financial Year End (FYE) and Corporate Income Tax Return (For, C/C-S) by Nov 30.
Companies need to declare their revenue amount and Estimated Chargeable Income (ECI) by filing an ECI form with the Inland Revenue Authority of Singapore (IRAS) within 3 months of the FYE for the company and also they are require to submit its annual Income Tax Return with IRAS by November 30.
You will need to raise invoice with 7% GST for local Singapore customers and 0% GST for all overseas customers. However, as announced by the Minister of Finance, GST will be raised from 7% to 8% starting 1 Jan 2023 and from 8% to 9% starting 1 Jan 2024.
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