TAX SERVICES

Today’s businesses operate in an ever-shifting tax landscape. Companies need to deal with increasingly complex tax laws and heightened scrutiny on their tax affairs while managing multiple agendas and priorities. You need to fulfill your tax compliance obligations while minimising tax risk, and meet your tax objectives while maximising tax planning opportunities.

Our tax services team has sound, technical knowledge as well as deep, practical experience. We understand your business strategies and goals and adopt a pro-active approach in helping you with your tax needs.

Benefits of our Tax Services

From local enterprises to multinational corporations and private companies to listed entities, having a professional tax advisor can help you to comply with regulatory requirements. Here’s how our tax services can benefit you:

  • Reduce the risk of errors in the filing of your income taxes
  • Identify tax deductions, credits or incentives that you qualify for
  • Ensure that you file your taxes on time
  • Optimise your tax savings
  • Assist in communication with the tax administration on matters to be resolved
  • Ensure that the nature and scope of tax planning activities are within the acceptable scope of the legal framework

HOW WE CAN HELP

Corporate Tax Services

Companies today operate in a high-regulated environment. Tax administrations across the globe are under pressure to protect their tax bases. At the same time, there is a trend towards more information sharing amongst tax administrations. Therefore, companies should take a proactive approach towards their tax compliance and tax planning practices, and take steps to mitigate tax risks. Our highly-experienced corporate tax team adopts a personalised approach towards helping you fulfill your tax compliance obligations. We offer a broad range of corporate tax services, including:

  • Preparation of tax computations
  • Filing of corporate income tax returns
  • Withholding tax compliance
  • Tax incentive application and optimisation
  • Application for advance tax rulings
  • Corporate tax planning to maximise tax efficiency
  • Assistance with Inland Revenue Authority of Singapore (IRAS) tax audits or tax investigation issues
  • Responding to IRAS queries on tax compliance matters
  • Pre-IPO and tax due diligence reviews
  • Transaction tax advisory for M&A and corporate reorganisation exercises

Personal Tax Services

Today’s companies operate in dynamic business environments where there is a need to attract the best local and global talent to enhance competitiveness. As businesses become more interconnected worldwide, employees have become more globally mobile. We are committed to helping companies and their employees manage their personal tax compliance, personal tax planning and other mobility requirements arising from international assignments. Our personal tax services include:

  • Individual tax computations for individuals, sole proprietors and partnerships
  • Preparation of personal income tax returns
  • Preparation of returns of employee’s remuneration (Form IR8A) and tax clearance (Form IR21)
  • Assistance with expatriate taxation such as application for the Not Ordinarily Resident (NOR) Scheme and tax equalisation
  • Assistance with IRAS queries on personal tax matters
  • Application to IRAS for voluntary disclosure of past tax errors
  • Personal tax planning and advisory

GST Services

Businesses in Singapore with more than S$1 million in annual taxable supplies have to register for GST. Many GST-registered business face challenges in complying with GST requirements and could face penalties for non-compliance if they do not fulfill their obligations. We have in-depth knowledge and experience in helping GST-registered businesses with complying with statutory requirements. Our GST services include:

  • GST registration for new businesses
  • Preparation and filing of GST returns within the prescribed due date
  • Conducting an Assisted Self-Help Kit (ASK) self-assessment compliance review
  • Assisting with voluntary disclosure of errors under the IRAS’ Voluntary Disclosure Programme (VDP)
  • Conducting an Assisted Compliance Assurance Programme (ACAP) review to assess the effectiveness of GST internal controls
  • Application and renewal of the Major Exporter Scheme (MES) and other GST-related schemes
  • GST health check to assess the effectiveness of GST compliance practices
  • GST advisory services including due diligence for M&A transactions
  • Assistance with IRAS queries and dispute resolution on GST matters
AUDIT ACCOUNTING
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Chew Whye Lee PAC is an independent Member of TGS, an international business network.

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