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Corporate tax
From $150
Russian version
Corporate tax
From $150
RSBU offers a full range of tax and accounting services in Singapore for legal entities. Depending on your needs, we can offer you both consulting services and full tax support including preparation and filing of mandatory tax reports and returns.
RSBU offers a full range of tax and accounting services in Singapore for legal entities.
Our services:
Our approach seeks to maximize tax optimization by applying all available tax incentives and deductions under Singapore's tax laws.
C/C-S form feed
3.
Calculation of the taxable base
2.
500$
Learn more
Advice on taxable
income
1.
Corporate Income Tax Return (Form C/C-S)
ECI Report Filing
Preliminary calculation
3.
2.
Advice on taxable
income
1.
150$
Estimate of the Company's estimated accrued income (ECI)
Getting the COR
3.
Assistance in preparing documents
2.
Advice on tax
residency
1.
800$
Learn more
Certificate of Tax Residence (COR)
GST counseling
3.
Control over GST report submission deadlines
2.
Applying for GST registration
1.
400$
Learn more
Goods and Services Tax (GST)
Why us?
We speak your language
Since 2013
On the Singapore market
Full range of business services in Singapore
Customers
Data for a group of companies
Testimonials from our customers
We have been cooperating with RSBS since the creation of our company, namely since 2017. This is a team of professionals who can be trusted with tasks of various complexity, from company registration to assistance in some aspects of business. I am grateful and glad for our partnership!
Dmitry Malakhovsky
Director & Co-Founder, Ecoway Technologies Pte.Ltd.
Anastasia Oleinik
Prima Music Pte Ltd
RASA expresses its sincere gratitude to RSBU. Our cooperation began in 2019 with the registration of the company and continues to the present day.

During the period of our cooperation, RSBU representatives have shown high professionalism and efficiency in performing the designated tasks. We receive constant support in the ongoing financial and organizational processes of the company. We are very satisfied with our cooperation with RSBU and we certainly recommend this company as your reliable and trusted partner.
Tatiana Meshkova
I used the services of RSBU in order to open my own company in Singapore. Good service. The consultants actively answer questions and respond quickly if problems arise. Especially valuable is the fact that even after successfully opening a company, the consultants give advice on documentation and doing business in Asia.

I recommend it!
RASA Pte Ltd
Director & Co-Founder, Ecoway Technologies Pte.Ltd.
Dmitry Malakhovsky
We have been cooperating with RSBS since the creation of our company, namely since 2017. This is a team of professionals who can be trusted with tasks of various complexity, from company registration to assistance in some aspects of business. I am grateful and glad for our partnership!
Anastasia Oleinik
Prima Music Pte Ltd
Сотрудничаем с РСБС с момента создания нашей компании, а именно с 2017 года. Это команда профессионалов, которым можно доверить задачи разной сложности, начиная от регистрации компании и заканчивая помощью в некоторых аспектах деятельности. Благодарен и рад нашему партнерству!
Малаховский Дмитрий
Директор & Соучредитель
Ecoway Technologies Pte.Ltd.
I used the services of RSBU in order to open my own company in Singapore. Good service. The consultants actively answer questions and respond quickly if problems arise. Especially valuable is the fact that even after successfully opening a company, the consultants give advice on documentation and doing business in Asia.

I recommend it!
RASA Pte Ltd
Tatiana Meshkova
RASA expresses its sincere gratitude to RSBU. Our cooperation began in 2019 with the registration of the company and continues to the present day.

During the period of our cooperation, RSBU representatives have shown high professionalism and efficiency in performing the designated tasks. We receive constant support in the ongoing financial and organizational processes of the company. We are very satisfied with our cooperation with RSBU and we certainly recommend this company as your reliable and trusted partner.
Seafood International Trade Pte. Ltd.
Olga
Seafood International Trade Pte Ltd would like to thank RSBU for their long-term and fruitful cooperation. We have been customers of RSBU since its incorporation and RSBU has established itself as a task-oriented and result-oriented company.
Maxim R.
Wowlink Pte. Ltd.
Сотрудничаем с РСБС с момента создания нашей компании, а именно с 2017 года. Это команда профессионалов, которым можно доверить задачи разной сложности, начиная от регистрации компании и заканчивая помощью в некоторых аспектах деятельности. Благодарен и рад нашему партнерству!
Малаховский Дмитрий
Директор & Соучредитель
Ecoway Technologies Pte.Ltd.
We registered a Private Limited Company in 2020 with RSBU. The RSBU team worked perfectly, the documents were prepared professionally, the registration of the company and the opening of the bank account went smoothly.

RSBU also provided our company with a nominee director, an official address, and helped us keep the books. We are very pleased with the quality of service, responsiveness and professionalism of the RSBU staff. You can see that the company and team are constantly improving and enhancing the quality of services provided. Thank you very much for your work!
Spacefox Pte Ltd.
Vitaly Isayev
Working with RSBU leaves only positive impressions in the memory. The team stays in touch even during holidays and off hours.

Our business is quite specific, requiring licensing, legal expertise and we get help from RSBU on all these matters. What to say about the basic needs of opening a company and accounts, everything is at the highest level here.
Seafood International Trade Pte. Ltd.
Olga
Seafood International Trade Pte Ltd would like to thank RSBU for their long-term and fruitful cooperation. We have been customers of RSBU since its incorporation and RSBU has established itself as a task-oriented and result-oriented company.
Maxim R.
Wowlink Pte. Ltd.
Сотрудничаем с РСБС с момента создания нашей компании, а именно с 2017 года. Это команда профессионалов, которым можно доверить задачи разной сложности, начиная от регистрации компании и заканчивая помощью в некоторых аспектах деятельности. Благодарен и рад нашему партнерству!
Малаховский Дмитрий
Директор & Соучредитель
Ecoway Technologies Pte.Ltd.
We registered a Private Limited Company in 2020 with RSBU. The RSBU team worked perfectly, the documents were prepared professionally, the registration of the company and the opening of the bank account went smoothly.

RSBU also provided our company with a nominee director, an official address, and helped us keep the books. We are very pleased with the quality of service, responsiveness and professionalism of the RSBU staff. You can see that the company and team are constantly improving and enhancing the quality of services provided. Thank you very much for your work!
Spacefox Pte Ltd.
Vitaly Isayev
Working with RSBU leaves only positive impressions in the memory. The team stays in touch even during holidays and off hours.

Our business is quite specific, requiring licensing, legal expertise and we get help from RSBU on all these matters. What to say about the basic needs of opening a company and accounts, everything is at the highest level here.
Frequently Asked Questions(FAQ)
How is Singapore's tax system structured?
Since January 1, 2003, Singapore has had a one-tier corporate income tax system. The tax paid by the company on its taxable income is a final tax, and all dividends paid by the company to its shareholders are exempt from further taxation.
Singapore corporate tax rate
At the moment, the general income tax rate for both local and foreign companies in Singapore is 17%.

It is important to understand that the total income tax rate in Singapore, is not the effective and real corporate tax rate. The effective corporate tax rate in Singapore is in most cases lower than the total tax rate because of the tax incentives and exemptions applied.
What tax incentives are available in Singapore?
Although the general corporate tax rate in Singapore is 17%, there are various programs to help legally reduce taxation.

These tax credit programs fall into 3 categories:

  • benefits for all Singaporean companies,
    benefits for companies under three years old,
  • industry benefits, in particular banking, financial services, wealth management, tourism, insurance, shipping and shipping companies, and many others.
Tax benefits in Singapore for all companies
Singapore has a partial tax exemption program applicable to all companies registered in Singapore.

From the reporting year 2020 onwards:

Tax exemption on the first SGD 200,000 of taxable income:

Taxable income:
First $10,000
% Tax Exempt:
75%
Amount exempt from tax:
$7,500

Taxable income:
Subsequent $190,000
% Tax Exempt:
50%
Amount exempt from tax:
$95,000

Taxable income:
Total $200,000
% Tax Exempt:
-
Amount exempt from tax:
$102,500

Which means that 75% of the first $10,000 of taxable income will be fully exempt. Of the next $190,000 of taxable income, 50% will be exempt. So the total amount exempted will be $102,500. And for annual income in excess of S$200,000 (taxable income), the standard corporate tax rate of 17% will apply.
Tax benefits for companies under three years old
The government pays special attention to support start-ups and companies under 3 years old. There is a partial tax exemption program for Singapore companies under three years old:

Beginning in the 2020 reporting year and beyond:

Tax exemption on the first $200,000 of SGD taxable income if any of the first three reporting years falls in 2020 or thereafter:

Taxable income:
First $100,000.
% Tax Exempt:
75%
Amount exempt from tax:
$75,000

Taxable income:
Subsequent $100,000
% Tax Exempt:
50%
Amount exempt from tax:
$50,000

Taxable income:
Total amount of $200,000
% Tax Exempt:
-
Amount exempt from tax:
$125,000

Which means that 75% of the first $100,000 of taxable income will be fully exempt. Of the next $100,000 of taxable income, 50% will be exempt. So the total exempt amount would be $125,000. And for annual income in excess of S$200,000 (taxable income), the standard corporate tax rate of 17% will apply.
What are the requirements for tax credits in Singapore?
The conditions for obtaining tax benefits:

  • The company must be incorporated in Singapore;
  • The company is a tax resident of Singapore;
  • The company has no more than 20 shareholders, one of whom is an individual and owns at least 10% of the Company's shares.

To qualify for tax benefits for start-ups, the company must be less than three years old

Exclusions: Companies whose main business activity is investment holding activities; and Companies that develop real estate for sale or investment cannot qualify for tax credits.
Income Tax Discount in Singapore
In addition to tax benefits in Singapore, there are also discounts on corporate income tax. The rate of this discount varies from year to year. For fiscal year 2020, it is 25% of the tax payable, but no more than SGD 15,000.
Deadlines for filing a tax return in Singapore
Currently, the deadline for filing tax returns for Singapore companies is December 15 (for electronic filing). But starting from the 2021 reporting year, the deadline will be November 30.

Depending on the size of the company and its turnover, the Company must file a full set of required reporting documents, including Form C or C-S, audited or unaudited accounts, as well as a tax calculation.
How is the tax period calculated in Singapore?
The tax period, i.e. the period of time at the end of which the tax base is determined and the amount of tax is calculated, in Singapore is calculated on the basis of the previous year. This means that the tax period for any reporting year always refers to the financial year preceding the reporting year.

For example, in 2021, you will be filing a tax return for your company's fiscal year that ended between January 1, 2020 and December 31, 2020.
What income is taxable?
The tax is levied on income earned in the previous fiscal year. For example, a tax return for assessment year (YA) 2021 would declare income earned during fiscal year 2020. This tax return must be filed by November 30, 2021.
Do I need to register my company as a VAT collection agent (GST)?
There are two scenarios for registering a company with the GST:

  • Mandatory registration - when your taxable turnover exceeds S$1 million in the last calendar year or your estimated turnover in the next 12 months exceeds S$1 million.
  • Voluntary registration - you choose to register your company for GST voluntarily, even if your taxable turnover is less than S$1 million.

How is the tax residency of a company determined?
The place of incorporation of a company does not necessarily indicate the tax residence of the company. A company is considered to be tax resident in Singapore if its business is controlled and managed in Singapore. Control and management refers to decision-making on strategic issues, such as determining the company's development strategy.

As a rule, the place of the general meeting of the Board of Directors of the company, is one of the key factors determining where the control and management of the company is carried out.

If the company has an executive director or top managers who play an important role in decision making in Singapore, this is also one of the key factors in determining where control and governance is exercised.
Avoidance of Double Taxation in Singapore
Singapore has tax treaties with more than 80 countries and the list continues to grow. The treaties reflect Singapore's ongoing efforts to help businesses eliminate double taxation and to promote and facilitate international trade and investment opportunities.

Moreover, since 2009, Singapore has granted unilateral tax incentives to Singapore companies. Under this policy, all Singaporean companies with income earned in countries that do not have a double tax treaty with Singapore will be allowed a tax deduction on their foreign income from those countries.
If I have a company in Singapore, but the money doesn't come into Singapore, do I have to pay taxes here?
This is a very frequently asked question. Issues of international taxation is a complex topic, because it involves the tax laws of several countries. It is important to consider the tax laws of Singapore, the tax laws of the country where the main business transactions/bank account is opened, as well as the terms of the double taxation treaty between these countries (if such a treaty has been signed).

It will only be possible to answer this question accurately if all the details are understood, in particular, in which countries the company's accounts will be opened, where business transactions will be carried out, from which country to which and for what the money will be transferred and other nuances.
Benefits of paying tax in Singapore:
If you plan to grow your business and strengthen your presence in Singapore, we strongly recommend that you pay your taxes in Singapore for the following reasons:

1. Low tax rates compared to other jurisdictions
2. Compliance with the law

3. good business reputation of the company in Singapore, which will be very useful in the following cases:

  • Obtaining work visas
  • Opening of bank accounts in Singapore
  • Taking loans and credits from Singaporean financial institutions
  • Obtaining government grants
  • Due diligence by potential Singaporean partners

4. If you decide to sell the company/attract investors you will need to provide all of the company records, including taxes paid. The absence of some documents may adversely affect the decision to buy/invest.
What is the risk of tax evasion in Singapore?
Please be aware that the Singapore Revenue Authority may decide to audit your company. In the event that the audit reveals facts that may be considered by IRAS as tax evasion, the company and its directors face the following consequences:
  • Under Singapore's tax law, any person who willfully evades/assists in tax evasion is guilty of an offence. Offenders found guilty face a fine of up to four times the amount of tax underpaid, a fine of not more than SGD 50,000 and/or imprisonment of not more than seven years.
  • If there is fraud, the statutory limitation period under section 74(1) of the Income Tax Act and section 45(5) of the VAT Act does not apply. A tax audit can be conducted at any time after the statutory statute of limitations has expired:
  • Standard statute of limitations for income tax frau
6 years, for fiscal year 2007 and earlier; or
4 years, for fiscal year 2008 et seq.

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