Taxation

Taxation

We aim to help you maximum your benefits within the tax framework. Our services include both personal and corporate tax compliance and consulting. We will advise you how to obtain the optimum tax benefits. We also offer full compliance on all levels, while ensuring you meet proper deadlines and guidelines. Our tax specialists even feature timely and pertinent advice on securing optimum tax benefits. Some of the tax and investment incentives include accelerated capital allowances, double deduction of qualifying expenses.Our full range of tax services include:

Compliance

  • Corporate Tax
  • Personal & Partnership Income Tax
  • Tax Investigation
  • Representation on Objection and Tax Dispute cases
  • Scope of Tax Compliance

Scope of Tax Compliance Services

  • Review of statutory financial statements for appropriate presentation from tax viewpoint
  • Completion of Company Income Tax Return Form C
  • Preparation of tax computation and supporting schedules
  • Collation of information to facilitate the above preparation
  • Submission of Company Income Tax Return Form C and tax computation with schedules to the Comptroller of Income Tax
  • Verification of Notice of Assessment issued by the Comptroller
  • Filing of Estimated Chargeable income based on figures provided

Non-Routine Services

Preparation of withholding tax form:

  • Consideration of withholding tax requirement
  • Preparation of Form IR37
  • Computation of withholding tax

Attendance to tax inquiries from the Company and/or the Comptroller of Income tax

Declaration of dividends:

  • Computation of the amount of dividend to be declared based on one tier tax exempt
  • Computation of amount of directors’ fees, bonus and dividends to be declared for

Goods and Services Tax related matters:

  • Advice on GST registration requirements and possible structuring
  • Setting up of procedures for newly registered traders for GST filing
  • GST Health Check on compliance procedures and systems
  • Attendance to tax queries from Comptroller of Goods and Services tax
  • Request for early settlement of GST refunds or any outstanding credit balance
  • Appeal for waiver of penalty when necessary
  • Application for registration/de-registration and various schemes such as the Major Exporter Scheme
  • Any other GST related issues

Computation of Estimated Chargeable Income based on management accounts

Request for mitigation or reduction of late payment penalties

Application for Tax Incentive

Tax Planning

  • Singapore Tax Structuring and Planning
  • Tax Efficient Structuring of Employment Packages
  • Cross-border Corporate and Personal Tax Planning
  • Trust and Estate Planning

GST

  • GST Compliance
  • GST Advice and Planning
  • GST Health Check
  • GST Investigation and Audit

Major Exporter Scheme (MES)

JDT can offer advisory and certification services to GST registered clients who wish to apply for and/or renew their Major Exporter Scheme (MES).

What is MES?

GST is charged on nearly all supplies of goods and services in Singapore and on the importation of most goods into Singapore. Singapore Customs collects GST at the point of importation. On the other hand, MES is a scheme whereby GST payment is suspended at the point of importation of goods. MES businesses are allowed to import non-dutiable goods without paying GST to the Singapore Customs.

MES Certification

GST registered businesses applying for and/or renewing their MES, will have to submit a Declaration Form on “Completing Annual Review & Voluntary Disclosure of Errors”. Such declaration has to be certified by a tax professional who are either “Accredited Tax Practitioners” or “Accredited Tax Advisors”.

JDT has its own in-house Accredited Tax Advisor to assist you in the certification so as to meet the regulators’ requirements.

Others

  • Tax Advisory Services with respect to setting up operations in Singapore
  • Negotiation of tax incentives with relevant authorities
  • Optimizing use of tax incentives and exemptions
  • Negotiation and dispute resolution with the tax authorities