Tax planning in Singapore is straightforward compared to most jurisdictions, since tax laws are simple and pro-business. The following is an overview of Healy Consultants' Singapore tax planning services and how our Singapore tax consultants can assist you achieve your international business objectives:

Healy Consultants' Singapore tax consultants offer comprehensive tax planning services in Singapore. Our experts offer tax planning services tailored to our clients' requirements and situation.

When tax planning in Singapore, taxes are levied only on income earned in Singapore and provided the income is not remitted back to Singapore. Refer to the Inland Revenue Authority of Singapore (IRAS) website for more information.

As the laws affecting tax planning in Singapore are updated and modified, Healy Consultants will inform our clients and act accordingly. Most recently, ASC announced a strategic direction to work towards full convergence with IFRS for Singapore listed companies. To read more, please visit the Accounting and Corporate Regulatory Athority (ACRA) website.

Unlike many corporate services providers, Healy Consultants takes a global approach to our Singapore tax planning services. Our Singapore tax consultants think 'outside the box' to provide a creative solution. Our international tax professionals provide the optimum Singapore tax planning and consulting services to organisations of all sizes.

The first S$200,000 (US$132,500) of corporate profits earned in Singapore is legally tax-exempt for the first three years of business trading.

Personal income tax rates in Singapore average 9%.

A Singapore company is obliged to register for goods & services tax (GST) if annual sales exceed S$1 million (US$655,000). GST registration by a non-resident Singapore company enjoys GST refunds from the Singapore government. Speak to our Singapore tax consultants for more information on legal GST exemption.

The following is a list of the only transactions that will not affect the dormant status of the company: i) the appointment of a secretary of a company; ii) the appointment of an auditor; iii) the maintenance of a registered office; iv) the keeping of registers and books; v) the payment of fees to the Registrar or an amount of any fine or default penalty paid to the Registrar (ACRA); vi) the taking of shares in the company by a subscriber to the memorandum in pursuance of an undertaking of his in the memorandum. For further information, refer to the ACRA website.

Singapore imposes neither capital gains nor gifts taxes nor estate taxes.

A Singapore company accesses double taxation treaties signed with almost 60 countries including Japan, China, Germany, France, the UK and Canada. In some instances, a Singapore company may be liable to pay income tax despite a double tax treaty being in place. In this case, the tax rate depends on the terms of the treaty, and may be reduced through tax credits. Our Singapore tax consultants can provide further information.

Annual financial statements must be submitted to the IRAS following Singapore company set up. Our Singapore tax consultants assists clients efficiently and effectively complete this annual statutory obligation. Annually, our Clients should budget for approximately US$2300 to complete Singapore tax and accounting obligations.

Healy Consultants' tailored advice makes us the tax consultancy of choice. Our Singapore tax planning services include:

Singapore company formation - Healy Consultants' Singapore tax consultants advise on the tax aspects of Singapore company formation. A properly-structured Singapore company is a tax-efficient corporate vehicle through which international business can be conducted and is a legal way to protect global assets;

Singapore Trusts - Healy Consultants' Singapore tax consultants advise on all tax-related aspects of setting up a Singapore trust, an excellent way for entrepreneurs and high net worth investors to legally minimise their international tax exposure and optimise asset protection;

Singapore corporate bank account - Healy Consultants' Singapore tax consultants advise on all tax-related aspects of opening a Singapore or international corporate bank account.

Mergers and Acquisitions (M&A) - Healy Consultants' Singapore tax consultants can advise on all tax-related aspects of an M&A.

International tax legislation - Healy Consultants' Singapore tax consultants advise on international tax legislation, keeping our clients informed of regulatory changes.

Double Taxation Treaties - Healy Consultants' Singapore tax consultants advise on all tax-related aspects of double taxation agreements which Singapore has signed with up to 60 countries.

Singapore corporate and personal income tax advice - Healy Consultants' Singapore tax consultants advise on the latest corporate and income tax rates in Singapore, as well as legal strategies to minimise tax exposure. Furthermore, we assist clients prepare and submit tax returns to the Inland Revenue Authority of Singapore (IRAS).

Goods and Services Tax (GST) registration and exemption - Healy Consultants' Singapore tax consultants assist with this Singapore tax planning service.

For more information on tax planning in Singapore, email email@healyconsultants.com or call us in Singapore at (+65) 6735 0120.