Services · Tax
Corporate tax in Singapore rewards businesses that plan and punishes businesses that scramble. We prepare the computation, claim what is legitimately claimable, file Form C-S or C on time and answer IRAS so you never have to. One team, fixed fees and no November panic.
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The useful tax decisions happen before the year closes: timing of purchases, remuneration structure and available claims. We raise them while they can still be acted on.
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The computation arrives with a plain-English summary of every adjustment and claim, so you sign off knowing what was claimed and why.
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ECI and Form C-S or C go in ahead of the deadline, and any IRAS query lands on our desk first with a drafted response for your sign-off.
Good SME tax work is not aggressive schemes. It is the discipline of claiming everything the law already gives you: the partial exemption on the first S$200,000 of chargeable income, startup exemptions where they apply, capital allowances timed sensibly, medical expense caps watched, donations enhanced correctly and losses carried or transferred rather than wasted. Most of the tax savings we find come from things a rushed December computation simply misses.
Planning happens before your year end, not after. A conversation in the final quarter about asset purchases, bonuses and director remuneration routinely saves more than the cost of the whole engagement.
When the same team prepares your accounts and your tax computation, the numbers agree by construction. There is no year-end handover between an accountant and a separate tax agent, no reconciling of two versions of the truth, and no invoice for the time they spend talking to each other. Adjustments flow straight from the ledger and supporting schedules are ready when IRAS or auditors ask.
Employee-side filings, the IR8A each March and IR21 tax clearance when a foreign employee leaves, are handled inside our Payroll & HR practice where the salary data already lives. The tax and payroll teams are one firm, so nothing falls between them.
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A flat 17% on chargeable income, before exemptions. The partial exemption reduces the effective rate substantially for most SMEs, and qualifying new companies enjoy startup exemptions in their first three years of assessment.
Estimated Chargeable Income is filed within 3 months of year end unless your company qualifies for the filing waiver, and the Form C-S or C return is due by 30 November. Payment follows the notice of assessment, with instalment plans available on GIRO.
Form C-S is the simplified return for companies with revenue up to S$5 million meeting specific conditions, and C-S Lite simplifies further for revenue up to S$200,000. Form C is the full return with financial statements and computation attached. We file whichever applies.
Yes if it qualifies for the waiver: annual revenue of S$5 million or less and nil ECI. We check the conditions each year rather than assume.
Common culprits: private car expenses, fines and penalties, capital expenditure claimed as expense instead of allowances, and certain provisions. The computation adds these back, and we tell you which recurring items cost you deductions.
Trade losses and capital allowances can generally be carried forward against future income subject to shareholding continuity tests, carried back one year within limits, or transferred within a qualifying group. Which route is best depends on where profits sit.
Unusual margins, large one-off claims, related-party transactions and persistent losses attract attention. Clean documentation answers most queries in one letter, which is why our computations come with schedules already prepared.
Yes. IRAS treats unprompted disclosure far more gently than discovery. We quantify the issue, prepare the disclosure and manage it to closure.
Send us last year’s return and we will tell you what we would have done differently.
Accounting, corporate secretarial, payroll and advisory for Singapore SMEs since 2012.
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Ian & Son refers to the Ian & Son network and/or one or more of its member firms, each of which is a separate legal entity. Contact us to learn more.
