Achieving the Best Solutions to Maximise Returns & Minimize Tax Liabilities with J Accounting, who are members of Singapore Institute of Accredited Tax Professional (“SIATP”)
Singapore Personal Tax Consultation Services @ $300 nett per year
Individual Taxation Consultation Services Inclusive of:
- Compliance with the Inland Revenue Authority of Singapore (Personal Tax Preparation)
- Filing of Individual Tax Returns under Form B/B1 via your SingPass
- Utilizing Personal Reliefs where applicable
- Advising on Personal Tax issues
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Some fundamentals of Individual Tax in Singapore:
In Singapore, the individuals personal income tax is based on calendar year. That means from 1 January to 31 December. Income is assessed on a preceding year basis. The yearly individual personal tax returns must be lodged with the Inland Revenue Authority of Singapore (“IRAS”) by 15 April in the consecutive year. Failure to file your personal tax return will result in fines, penalties and in some situation summons.
Here are some of our Individual Tax Services:
- Preparation and lodgment of the income tax computation
- Filing of annual tax return to IRAS
- Verifying assessments issued by IRAS
- Lodging objections and submission of appeals (if any)
- Attending to investigations and/or queries raised by IRAS (if any)
Personal Individual Tax Rates in Singapore
The amount of tax you have to pay depends on whether you are:
Resident Individual:
- This individual will enjoy personal reliefs.
- Income of resident individual will be taxed at an increasing (graduated) rate.
Non-Resident Individual:
- There are no personal reliefs.
- Employment income will be taxed at 15% or the resident individual rate, whichever gives rise to a higher tax amount.
- Director’s fees, consultation fees & all other income that you had received will be taxed at 20%.
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