Singapore is known as a financial hub of Asia. Businesses, small, large, and startups, can leverage plenty of incentives and opportunities. Many entrepreneurs and businessmen prefer setting up the business in their country.
This is because they have gained a significant reputation and a strong physical presence in the same country. Setting up a business and incorporation of the company in Singapore is relatively simple and almost all the activities happen automatically.
No matter what industry domain your business belongs to, corporate tax filing is mandatory for all companies. Corporate tax filing poses a challenge for so many companies. But corporate tax filing is a necessary part as far as any business is concerned.
A businessman may find it difficult to work out the compliance issues. In such a scenario, you can consult various corporate tax advisory services in Singapore. By receiving consultation from the tax services, you can manage the reporting obligations. In addition to this, you also get relief while working with compliance requirements.
There are various issues when we talk about Corporate Tax Filing. These are the three things you need to know if you are looking for corporate tax advisory and filing services
Outsourcing the tax filing and advisory services:
There are a lot of different types of tax issues and consulting tax advisory and filing services is a good way to deal with them. You can choose to outsource tax advisory services that offer tax management services along with corporate tax filing services. Bestar is an excellent source for all your tax concerns and requirements.
Learning about local corporate tax system:
Working around various kinds of tax can come across as overwhelming for people who are new to the taxation system. But, Singapore is known to offer various incentives for tax payers and to attract foreign investments. It has introduced a territorial based flat income tax system. Two factors like amicable approach towards businesses and low tax rates are basic factors that invite global investments for a steady economic growth. And Singapore is known to exhibit these two factors.
Therefore, corporate tax advisory and management services from Bestar can help you understand the overview of the tax system, rates, and perks from the country.
Understanding about the income tax:
Singapore adopted a corporate tax filing system from 1st January, 2003. Therefore, when it comes to stakeholders, they cannot apply for double taxation. The company is responsible to pay all the final taxes according to its chargeable income. In addition to this, all the stakeholders of a business are exempted from taxation for all the dividends that are payable by the company.
The corporate tax filing system can change according to the domain of the business. Therefore it is very important to understand about which corporate tax filing system is applicable with your business. Bestar Services is the right solution for all your corporate tax advisory and filing services. It offers various corporate tax advisory and management services in Singapore.
Overwhelmed with tax structure in Singapore? Contact us for a simplified solution.