Corporate Tax

All registered companies in Singapore have to present an Annual Tax Return to IRAS as a part of statutory compliance. We, at Paradigm360, help you to maintain your records and keep you updated with every rule and regulation for the same. We optimize your tax savings so that you can reinvest that amount into your business. Here you can get services related to Corporate Tax Computation, Preparation of Director’s Statement, Tax Planning, and Tax advice.

Terms You Should Know:

Estimated Chargeable Income (ECI)

As the name suggests, ECI is an estimated income a company may have for the Year of Assessment. It is compulsory for all companies to file their ECI within 90 days once their financial year ends. You can also submit this statement early as there are many flexible payment options provided by IRAS. It lets you pay tax in installation. If you submit the ECI statement earlier than ever, you will be benefited from getting the higher the number of payment installments.

Goods and Service Tax (GST)

You must have heard about GST, as it is quite common and prevalent. It is basically a tax that has been charged on the supply of goods and services made in Singapore. The tax imposed on the import of the products is also covered under GST. However, if you are dealing with some items, which are exempted from GST by the law, then you don’t need to pay tax. Here in Singapore, the current rate of GST is 7%.

You are eligible to collect GST if your business is registered, and your turnover is more than S$1 million from the sale of taxable (not exempted) goods and services. If you export your goods/services or supply them in the international market, then the requirement mentioned above might be waived off. You can call us to get more information about Singapore Corporate Tax Regulation, and we can guide you further.

Personal Tax

Each country has a different mechanism for collecting Personal Tax. Singapore’s tax structure, in this case, is the most straightforward and friendliest in the world. To fully understand and utilize it, Paradigm360 offers various services to the clients. Here you can also get advice and suggestions to understand your portfolio.

Not only that, but we can also help you to take possible actions regarding your Personal Tax savings whenever you need it. We can help you with the preparation of Form IR8A/IR21 for employees, preparation and filing of income tax return, your tax planning, as well as the determination of deductions.