TAXES IN SINGAPORE

Corporate Income Tax

Annual Estimated Chargeable Income

Annual Corporate Tax Computation & Filing

Goods & Services Tax (GST)

GST Registration

GST Computation & Filing

Exemption from GST Registration

Deregistration of GST

Personal Income Taxes

Personal Income Tax Computation

IR8A Preparation and Filing

Foreigner Final Tax Clearance and Filing (IR21)

Others

Group Relief

Certificate of Residence

Witholding Tax

Double Taxation Agreement (DTA) Relief

Corporate Tax Advisory & Planning

Personal Tax Advisory & Planning

FREQUENTLY ASKED QUESTIONS

Are Covid-19 Grants taxable? Expand

It depends on the nature of the grants. Grants that are capital in nature such as SME Go Digital is not taxable while grants received that will reduce the operating cost of the company will be taxable such as Goverment Paid Leave, Special Credit Scheme, Wage Credit, Skill Future Enterprise Grant etc. 

IRAS has made an exception to Jobs Support Scheme grant where IRAS has categorised the grant as non-taxable grant.

 

 

Do i need to register for GST? Expand

Generally, you must register for GST if your taxable turnover at the end of any calendar year on or after 1 Jan 2019 is more than S$1million or if at any time, you are expecting a taxable turnover in the next 12 months to be more than S$1million. 

 

My foreign employee is leaving Singapore. What should i do? Expand

Generally, when your non-Singapore Citizen employee (i.e. foreign or Singapore Permanent Resident employee) ceases employment with you in Singapore, goes on an overseas posting or plans to leave Singapore for more than three months, you are required to seek tax clearance for him. As an employer, you have the responsibility to file the Form IR21 and withhold all monies due to the employee for tax clearance purpose. This applies to all work pass holders including Personalised Employment Pass (PEP) holders.

Is Auto-Inclusion Scheme (AIS) for Emploement Income Compulsory? Expand

From YA 2021 (Calendar Year Ending 31 Dec 2020), AIS is compulsory for employers with 6 or more employees. 

What is the deadline for AIS Submission? Expand

Annual deadline for AIS submission is 1 Mar every year.