2020
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  Singapore’s tax regime is well-known for its attractive corporate and personal tax rates, tax relief measures, absence of capital gains tax, one-tier tax system, and extensive double tax treaties.

Singapore Corporate Tax

Corporate Tax Compliance in Singapore has become more complex under the regulatory scrutiny of the Inland Revenue Authority of Singapore.

You need to be confident that all returns are properly prepared and submitted to the regulatory authorities on time.

DMC Tax compliance specialist team is well versed in the latest tax law and practice. We offer you support to deliver more than a ‘classical tax return’, we deliver insight and value.

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Our corporate tax services broadly cover the following: 

TAX COMPLIANCE

  • Preparation Singapore corporate tax computations and filing of tax returns
  • Assistance with withholding tax compliance matters
  • Assist to reply queries raised by the Inland Revenue Authority of Singapore (IRAS)
  • Assist with tax audits and investigations initiated by the IRAS
  • Handle objections and requests for advance rulings, voluntary disclosures of errors

TAX ADVISORY

  • Identify and pursue opportunities for Singapore tax incentives, reliefs or grants to maximise tax savings
  • Examine Singapore and cross-border withholding tax and permanent establishment issues
  • Advice on local and cross-border structuring to ensure tax efficiency taking into account tax losses, group relief, capital gains rules, etc.
  • Review contractual agreements to enhance tax risk management
  • Tax due diligence for IPOs and M&A transactions
  • Advice on tax implications of fund raising activities through loans, share and asset sales
  • Deal with transaction tax costs such as stamp duty
  • Explore the applicability of relevant tax treaties in cross-border tax planning

                                            Singapore Goods & Services Tax

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                                            In a globalised business landscape with fast changing business model and new international trend for indirect tax, it is vital for companies to be aware and stay on top of Goods and Services Tax (GST) developments.

                                            Coupled with foreseeable increase in the GST rate hike in the upcoming years, there is a need to minimise risks and avoid adverse impact on businesses. Risk of non-compliance may give rise to hefty penalties imposed by the tax authorities.

                                            GOODS & SERVICES TAX (GST) SERVICES

                                            • Apply for GST registration/exemption from GST registration or de-registration
                                            • Review and e-filing of GST returns, and assist with the claiming of pre-registration input tax claims
                                            • Assist with replies to GST queries raised by the Inland Revenue of Singapore
                                            • Advice on GST treatment of day-to-day business transactions
                                            • Perform due diligence reviews
                                            • Review and improve GST compliance capabilities through: Assisted Self-Help Kit (ASK) review for voluntary disclosure of errors, Assisted Compliance Assurance Programme (ACAP), GST health check
                                            • Evaluate and assist in the application/renewal for GST relief schemes (e.g. Major Exporter Scheme, Approved Contract Manufacturer & Trader Scheme etc) through ASK review

                                            International Tax

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                                            As more international companies strive to align and optimise their global business strategies, our expert international tax advisors can guide you through cross-border tax structuring, risk mitigation and long-term tax planning.


                                            Whether its assisting with intellectual property planning, pre-IPO structuring or tax incentive applications, see what our international tax specialists can help your business with. 

                                            International Tax Services

                                            • Tax advice and planning for inbound investments in structuring, financing, exploring tax incentives, repatriation of earnings and exit from investments
                                            • Country-specific study for outbound investments on the suitability of jurisdictions with focus on tax aspects
                                            • Group structure and business substance review, rationalisation and restructuring for tax efficiency
                                            • Cross- border M&A in relation to pre-acquisition tax due diligence, planning and structuring advice and post-acquisition integration
                                            • Tax advisory support for cross border transactions including:
                                            • – Tax efficient structuring of transactions
                                            • – Navigating permanent establishment issues
                                            • – Withholding tax implications
                                            • – Application of tax treaties
                                            • – Review of contractual agreements

                                            Transfer Pricing

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                                            Growing concerns over transfer pricing practices have led to increasing regulation and heightened documentation requirements by tax authorities aimed at preventing the erosion of their tax bases by profit shifting and other artificial means. This in turn has significantly increased the burden of compliance on companies as they have to navigate through a maze of regulations and documentation requirements in different jurisdictions to justify their related party transactions. 


                                            As global tax and transfer pricing legislation continue to evolve, there is a pressing need for businesses to undertake regular reviews of their cross-border activities.

                                            Formulate and implement a global transfer pricing policy

                                            • Transfer pricing advisory support where required including assisting with establishing and implementing transfer pricing policies that are acceptable from the standpoint of the relevant jurisdiction(s)
                                            • Aligning transfer pricing with the client’s global business goals and objectives
                                            • Developing transfer pricing strategies blending Singapore and overseas tax requirements (global transfer pricing)

                                            Transfer Pricing Compliance

                                            • Review existing transfer pricing policies
                                            • Ensuring adherence to transfer pricing policies and regulations
                                            • Bench-marking studies to support arm’s length pricing of related party transactions where required

                                            Global Mobility and Expatriate Tax

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                                            Many expatriates working in Singapore seek our advice and assistance in personal tax planning and tax compliance matters. This includes reviewing their overseas tax burden to ensure that they are minimized.

                                            Global Mobility and Expatriate Ta x Services

                                            • Prepare, review and file Singapore individual income tax returns (Form B1), Return of Employee’s Remuneration (Form IR8A) and Cessation Return (Form IR21)
                                            • Provide arrival/departure counselling on individual tax matters for inbound or outbound employees
                                            • Develop tax-efficient employment remuneration packages
                                            • Global/regional coordination of expatriate tax services
                                            • Develop and implement tax equalisation policy
                                            • Assist in queries raised by the IRAS, voluntary disclosures of errors, tax audits and investigations
                                            • Apply for tax incentives/rulings 

                                            Personal Income Tax

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                                            Globalisation in the business world has led to the company workforce travelling more and more. As Singapore becomes the business hub for south-east Asia for many multinationals and individuals, our personal tax team can assist your company and its talent in managing any personal tax issues that arise.


                                            Our broad range of personal taxation services takes the work out of preparing returns of employee’s remuneration, tax equalisation and local personal tax planning, to name a few. Learn how we can ensure your personal tax compliance and optimisation.

                                            Personal Income Ta x Services

                                            • Prepare, review and file Singapore individual income tax computations and returns to maximize your rightful benefits and claims under the existing tax legislations
                                            • Perform a tax review of past returns and to recommend and assist in risk mitigating actions
                                            • Assist in queries raised by the IRAS, voluntary disclosures of errors, tax audits and investigations
                                            • Apply for tax incentives/rulings