Navigating Singapore’s Corporate Tax Landscape

Singapore’s corporate tax system is renowned for its simplicity and pro-business approach, making it an attractive destination for businesses of all sizes. However, staying compliant while minimizing tax liabilities requires a clear understanding of the rules and regulations. ScaleX's Corporate Tax Advisory Desk is here to provide expert guidance tailored to your business needs.

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  • Corporate Income Tax (CIT)
  • Tax Incentives and Schemes
  • Double Tax Avoidance Agreements (DTAAs)

Corporate Income Tax (CIT)

Flat Rate: Singapore applies a flat corporate tax rate of 17% on chargeable income.
Partial Tax Exemptions: The first SGD 200,000 of chargeable income benefits from partial tax exemptions.
Start-Up Tax Exemption Scheme: Qualifying start-ups enjoy tax exemptions on the first SGD 300,000 of chargeable income during their initial years.
Single-Tier System: Dividends paid by Singapore-resident companies are exempt from further taxation in the hands of shareholders.

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Tax Incentives and Schemes

Singapore offers various tax incentives to promote key industries and encourage innovation. These include:

 

  • Pioneer Incentive Scheme: For companies investing in new industries or technologies.
  • Development and Expansion Incentive: For companies undertaking significant expansions.

Productivity and Innovation Credit (PIC): Supports investments in productivity-enhancing activities.

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Double Tax Avoidance Agreements (DTAAs)

Singapore has an extensive network of DTAAs, providing relief from double taxation and promoting cross-border trade and investment.

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Corporate Tax Advisory Desk at ScaleX

Our experienced tax consultants offer end-to-end solutions to help businesses meet compliance requirements while optimizing tax efficiency. We specialize in:

Corporate Tax Planning

We work closely with your management team to develop tax-efficient corporate structures that align with your business goals. Our services include:

  • Strategic tax planning to reduce tax liabilities.
  • Advising on optimal use of tax incentives and exemptions.
  • Structuring business operations to achieve maximum tax benefits.
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Corporate Tax Compliance

Ensuring timely and accurate filing of tax returns is crucial to avoid penalties. Our compliance services cover:

  • Preparation and filing of corporate income tax returns.
  • Handling corporate tax audits and responding to queries from tax authorities.
  • Maintaining proper documentation to support tax positions.
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Cross-Border Tax Advisory

For businesses with regional or global operations, we provide specialized cross-border tax advisory services, including:

  • Guidance on transfer pricing and preparation of transfer pricing documentation.
  • Withholding tax advisory for payments to non-residents.
  • Structuring cross-border transactions to minimize tax exposure.
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Assistance with Tax Incentive Applications

We assist businesses in identifying and applying for relevant tax incentives offered by the Singapore government, helping them maximize available benefits.

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Why Choose ScaleX for Corporate Tax Advisory?

Our innovative approach and creative prowess will captivate your audience and drive growth.

  • Expertise Our team of seasoned tax advisors brings in-depth knowledge of Singapore’s corporate tax landscape.
  • Compliance Assurance Our proactive approach ensures that your business remains compliant with evolving tax regulations.
  • Tailored Solutions We provide customized tax strategies designed to meet the specific needs of your business.
  • Global Perspective With expertise in international tax, we help businesses manage cross-border tax issues effectively.
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