Expert tax advisory for APAC businesses
BoardRoom’s team of experienced professionals is here to help you navigate the complex tax regulations in Singapore. We are not only well-versed in Singapore’s local tax rules, but also have in-depth knowledge of regional and global tax laws. We help hundreds of companies across the Asia-Pacific region to meet their tax filing and payment obligations each financial year.
Discover our tax filing and advisory services in Singapore, across Asia-Pacific, and worldwide
As Singapore’s top tax advisory service, we can help with corporate tax compliance, company tax filing, income tax filing, tax return, GST registration & more.
Whether you are a large-scale multinational or a fast-growing SME, our tax advisory services ensure you stay compliant while paying less tax and setting your business up for success.
Our Singapore tax services
Built on over 50 years of experience working with companies of all sizes across multiple industries, BoardRoom has become one of the most trusted tax advisory firms in Singapore. With a personalised solution for each business, we offer a full spectrum of tax services for companies operating in Singapore and the Asia-Pacific region.
01 Tax compliance and filing services
We have extensive experience with personal and income tax filing for companies in Singapore. Our tax compliance services ensure you meet strict local and cross-border compliance requirements.
We can help with:
02 Singapore tax advisory services
Without expert planning support, it can be easy to miss out on tax breaks and exemptions that your business is entitled to. We conduct an in-depth analysis of your business structure before providing industry-leading advice on the best long-term tax solutions.
We can help with:
03 GST planning, audits and compliance
Understanding Singapore’s Goods and Services Tax (GST) compliance requirements takes expert local knowledge. Our team of professionals have an in-depth understanding of GST laws and tax filing services to help you stay compliant.
We can help maintain GST compliance through:
- GST registration and return filing, including pre-registration GST input tax claims
- GST advice on local and cross-border transactions, de-registration implications and start-up issues
- Health checks to avoid common GST pitfalls, including GST Assisted Self-help Kit (ASK) review
- Application and renewals for the Major Export Scheme (MES)
- In-house GST training
As well as provide:
- Voluntary disclosure programme: If the situation arises for opting in to the voluntary disclosure programme, BoardRoom will manage the process for you from correcting accounts to liaising with the IRD
- Handling of IRAS queries
- Filing of F7 error correction forms, GST Forms 8 (final return) and 9 (de-registration)
Frequently Asked Questions (FAQs)
1. What is the meaning of tax compliance?
Tax compliance is the act of following tax regulations and laws. Any business that is not following tax compliance is doing so at the risk of breaking the law.
Singapore has some very stringent tax laws, and it is important that your business is doing everything it can to operate within the law by paying your taxes accurately and on time.
2. What is the tax structure for expats in Singapore?
Singapore tax law is split into two categories – taxes for residents and taxes for non-residents.
Singapore Citizens, Permanent Residents, and foreigners who are employed in the country for more than 183 days in the year are taxed as residents and are subject to Singapore’s progressive tax rate.
Non-residents of Singapore are taxed at a flat rate of 15% but are not entitled to any sort of tax relief.
Please visit the link for more information on the Basic Guide on Tax Filing for Foreigners.
3. What is the tax structure for companies in Singapore?
Singapore has long been considered a haven for entrepreneurs. One of the country’s largest draws is the low corporate tax rate.
Businesses in Singapore pay 17% tax on profits – not revenue. In Singapore, there is also no capital gains tax, no dividends tax, and there is no double taxation if your company is operating overseas.
Please visit the link for more information on the Basic Overview of Corporate Income Tax.
4. How do you do tax return filing in Singapore?
Residents and non-residents of Singapore are expected to file their taxes in mid-April every year with the Inland Revenue of Singapore (IRAS). You can do so online or by mail.
If you are filing your tax return online, the deadline for filing is April 18th. For online tax return filing, you will need a SingPass or IRAS Unique Account (IUA). If you are filing your tax return by traditional mail, then the deadline is April 15th.
5. How do you calculate corporate tax returns in Singapore?
Tax returns can be prepared manually or with the help of tax preparation software. Manual preparation requires calculating of the taxable income and submitting it to the IRAS. You may also prepare and file your tax returns online using tax preparation software. After you have made the computations, you may then file your tax returns online using the IRAS portal.
You can use the IRAS basic tax calculator to calculate your taxable income. The calculator helps you in making adjustments to your accounting profit to arrive at the taxable profit. You are also able to deal with schedules such as capital allowances and expenses schedules. The calculator can also be used in filling form C or form C-S.
Tax preparation for corporations is crucial when filing your company’s tax returns. You should make sure that you calculate your taxable income from your accounting income by making the necessary adjustments. In case you want to save time and money by focusing on your business issues, you may choose to hire professional Singapore tax consultant to prepare your tax returns.
6. How to choose a tax filing service provider in Singapore?
Tax returns can be prepared manually or with the help of tax preparation software. Manual preparation requires calculating of the taxable income and submitting it to the IRAS. You may also prepare and file your tax returns online using tax preparation software. After you have made the computations, you may then file your tax returns online using the IRAS portal.
If you are looking to hire an accountant or tax filing service provider, be sure to hire a professional with experience and knowledge of Singapore’s tax regulations.
Here at BoardRoom, we have years of experience helping businesses in Singapore and the APAC region file their taxes and balance their books. Contact us today to speak with a specialist.
7. What tax incentives are available for new start-ups?
The government of Singapore provides several tax incentives to help promote entrepreneurship in the country – many of which are designed to specifically aid start-ups.
Here are some of the more popular tax incentives for start-ups…
- Tax Exemption Scheme for New Start-ups
- Productivity and Innovation Credit (PIC) Scheme
- Deduction for Charitable Work
- Double Tax Deduction for International Expansion
- Wage Credit Scheme
Be sure to ask your accountant or tax professional about which tax incentive is best for your start-up.
8. How can BoardRoom help in taxation services?
Here at BoardRoom, we have the experience, network, and tools to set your business or start-up up for success. We have years of experience helping organisations like yours file their Singaporean taxes, so they are 100% compliant with Singapore tax regulations.
If you are ready to set your business up for success, contact us today.