July 8, 2020
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Finance

Taxation-related services in Singapore and what you should know

When it comes to tax-related concerns, people should see to it that they don’t break any laws or else they will be facing huge problems. For business owners and self-employed individuals, the tax has become a taxing problem that eats a huge portion of their time. Fortunately, there are taxation services Singapore which take the burden off the shoulders of many people.

Tax specialists are well-versed in the latest tax laws and practices. They provide support and ensure they offer more than just ordinary tax returns. They see to it that all returns are prepared and submitted properly and in a timely manner. Some of the tax planning services they offer include the following:

 

Tax compliance – 

It consists of regularly updating you with the tax regulations of Singapore, especially those that could affect your company’s compliance requirements. Monitoring of statutory deadlines and working closely with your company to meet the compliance filing deadlines. Prepare and file the estimated chargeable income and preparation of tax provision calculations according to the information, and highlight any tax-related concerns based on the provided information. A significant part of the tax compliance service is advising you on the tax payment deadlines as per the receipt of the Notice of Assessment. 

Tax advisory – 

When it comes to Singapore’s tax advisory concerns, the focus is more on the development and structure of remuneration packages for employees, which includes expatriates. This is to further enhance tax efficiency. It also includes tax planning, equalization, and protection for individuals both inbound and outbound. Other components of tax advisory concerns include equity-related compensation schemes, contribution and compliance concerns for CPF, and other-related advisory matters. 

With professional taxation services in Singapore, you will have someone who is well-versed in handling tax-related matters. Hence, you can focus more on other important aspects of your business.