Tax Audit and Investigation Services Dealing with a Tax Audit or Investigation by the Inland Revenue Authority of Singapore (IRAS) can be mentally and emotionally taxing—especially when the tax issues span several years. The process often involves intense scrutiny of financial records, frequent interviews, and complex tax jargon used in communications from IRAS, all of … Read more
Preparing Tax Computations in Functional Currencies Other Than Singapore Dollars Tax Computations in Non – Singapore Dollars Functional Currencies Companies that prepare their financial statements in a functional currency other than Singapore Dollars (S$) are required to prepare their tax computations in that same non-S$ currency. However, all amounts declared in the Corporate Income Tax … Read more
Preparing Company Tax Computation What is a Tax Computation? A tax computation is a financial document used to adjust a company’s accounting profit to arrive at the income that is taxable under Singapore law. These adjustments account for non-deductible expenses, non-taxable income, further deductions, and capital allowances, among other items. Companies are required to prepare … Read more
Tax Filing Requirements for Dormant Companies in Singapore Singapore’s vibrant business landscape hosts a wide variety of companies, including dormant companies — businesses that have temporarily ceased operations but are maintained in readiness for future activities. Though inactive for now, these companies hold untapped potential and remain poised for growth. However, understanding the tax filing … Read more
5 Essential Questions to Ask Your Accountant at Tax Time in Singapore Tax season in Singapore is more than just a compliance exercise—it’s a strategic moment to strengthen your business. Your annual meeting with your accountant is a valuable opportunity to get expert tax advice, address any uncertainties, and stay updated on new regulations that … Read more
Tax Planning in Singapore Tax planning involves strategically analyzing a company’s financial situation to reduce tax liabilities in a legal and efficient manner. In Singapore, this process is particularly effective due to the government’s broad range of tax incentives, grants, and subsidies designed to encourage growth and investment. At WLP, our experienced accountants can help … Read more
Understanding Singapore’s Tax Landscape in 2025 Singapore’s tax system is designed to be both competitive and transparent, making it an attractive destination for businesses. With a corporate tax rate of 17%, companies benefit from various exemptions and incentives that often reduce their effective tax burden. This system supports businesses of all sizes, from startups to … Read more
Whether you are a new business or a small business owner who is too busy to be clued up on what tax benefits you are actually entitled to. You are most definitely not alone and I believe that there is a space where you can find easy-to-understand, up to day and relevant information on what … Read more
Singapore is renowned for its business-friendly environment. This is particularly true for its tax system, which benefits incorporated companies. The city-state’s tax system aims to help entrepreneurs and businesses grow. It’s designed to support their development and success. Let’s explore the tax benefits that make Singapore a top choice for setting up companies. These advantages … Read more
Introduction Tax season can be a time of stress for many, but with the right strategies in place, it can also be an opportunity to maximize your returns. The key to a successful tax season is preparation and understanding the nuances of tax laws. Here, we’ll explore several accounting tips that can help you get … Read more