Corporate Tax Preparation
All businesses need to file their corporate tax returns, whether they are small businesses, startups or SME’s (small and medium enterprises). Ezee Pte. Ltd. [CFO on Demand, Finance, Advisory, Compliance, Tax, Project Management] have consultants that have experience with Corporate Tax preparation and tax filing in multiple countries across Asia Pacific, Europe and Middle East.
Whether you are a new company that has just registered its business and filing its initial tax return or an established businesses filing its subsequent tax returns, Ezee Pte. Ltd. can help with your tax preparation for ECI [Estimated Chargeable Income], Form C, Form C-S or Form C- S-Lite for Singapore Corporate Tax filing purposes.
Ezee Pte. Ltd. can be authorized in the Corp Pass system as the tax preparer for your organization so that tax returns can be filed with IRAS electronically. Singapore has no capital gains tax and exempts some other types of income. Capital Allowances are permitted for certain qualifying fixed assets and there are various other allowances, incentives, grants, rebates and reliefs permitted by IRAS [Inland Revenue Authority of Singapore] including a Foreign Tax Credit, Loss Carry Back Relief and Group Relief
Taxable profit almost always differs from accounting profit due to various tax adjustments, non-deductible expenses, non-taxable receipts other deductions and capital allowances. Tax rules can change from time to time and it is important to file your tax returns accurately and on a timely basis.
BEPS and Transfer Pricing
Good recordkeeping is essential to support tax return filings including maintaining proper supporting documentation like supplier tax invoices, receipts, and delivery orders. Accounting processes and routines are also important to accurately capture supplier and vendor information, GST registration numbers, and using the correct General Codes to capture transactions correctly at source. Properly segregated deductible and non-deductible items will provide a high level of confidence in the financial statement reporting as a reliable base to prepare tax returns.
Our consultants have hands on experience in designing accounting systems, routines and processes such that tax compliance becomes Ezee. With our years of controllership experience we strive to minimize or eliminate the possibility of tax audits with maintaining a focus on good documentation to support our tax positions. Our value added services include identifying and recommending good record-keeping hygiene for our clients in the event that the accounting transactions are processed by client teams or 3rd party outsourced accounting service providers. In the long term, this ensures minimal disruption and delays on tax compliance objectives.
The Inland Revenue Authority of Singapore [IRAS] regularly provides tax incentives and benefits to attract foreign investments and promote local business growth leading to more employment opportunities created in Singapore. While Singapore is not a member of the Organization for Economic Co-operation and Development [OECD], domestic transfer pricing regulations closely follow the OECD Guidelines and key principles including references to the arm’s length principle and comparability analysis.