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Tax Advisory Services Singapore
Every financial decision requires careful evaluation of its tax consequences. Given the constant changes in tax laws and the international character of many businesses, it becomes necessary to take professional advice on how to minimise tax liability and make use of all tax advantages.
We have a multidisciplinary team of specialists with extensive IRAS experience. Our team of corporate tax advisers will assist you in preparing and filing all necessary documents in time.
The following is the list of our services:
Corporate and personal taxation
Individual and sole trader taxation returns preparation
Partnership tax return preparation
Company tax return preparation for IRAS filing
Estimated Chargeable Income filing
Advice on tax relief/incentives applicable
GST registration
Preparation and submission of quarterly GST returns
Corporate Tax Computation & Submission
We provide a comprehensive range of corporate taxation computation & submission services:
Company and personal tariff compliance
Preparation of levy returns for Individuals, Sole proprietorship for Comptroller of Income Tax Submission
Preparation of levy return for Partnerships for Comptroller of Income Tax Submission
Preparation of Company tax return for Comptroller of Income Tax Submission
Filing of Estimated chargeable income
Applicable incentives advisement
GST registration with Comptroller of GST (a Company is required to register for GST purposes when you hit $1 Million in revenue for the 12 months period preceding the registration)
Preparation and submission of GST returns on a quarterly basis (we can assist with the registration and quarterly submission of GST filings)
Corporate Tax Submission
All companies in Singapore are required to submit their corporate tax returns with IRAS every year. It is mandatory for firms to comply with this obligation since failure may result in penalties.
For professional guidance on tax-related matters, our team can guide you through the dynamic tax landscape of Singapore. Our corporate tax advisory services include assisting your company in making proper decisions, assessing tax risks, and availing themselves of tax incentives and reliefs available.
Morrison Consultants offers customised tax advisory services in Singapore for businesses of all sizes. We provide advice on tax planning, compliance, business restructuring and any issues related to international taxation.
Apart from tax computation and annual filings, we advise companies to set up systems for efficient tax reporting and compliance.
Our expert advisers at Morrison Consultants can provide corporate tax advisory Singapore businesses can depend on, including support for companies with overseas operations and cross-border tax considerations.
Individual Income Tax
Individuals, depending on their residence and citizenship status, need to submit a completed form by 15 April every year.
Individuals are entitled to several deductions and reliefs. Our professionals are well versed to legally lowering the tariff payables, ensure the accuracy and completeness of levy returns and file on time to avoid incurring costly penalties.
Corporate Tax Consultancy Services
If you require help with tax-related matters, we will be more than happy to work out a simple plan with you to take advantage of Singapore’s current levy arrangements. Having a professional advise you on taxation matters can help you save plenty in the long run.
Morrison Management provides consultancy services for individuals and companies. We work closely with experienced consultants who are highly trained and knowledgeable in their field.
We provide clients with tariff advisory and consultancy services beyond their yearly computation and submission requirements, especially for companies who wish to have a proper structure and system for their submission needs.
Being more knowledgeable and aware of tariff matters can help you save by maximizing legal benefits given to you by the Inland Revenue Authority of Singapore (IRAS).
Tax Planning
Proper tax planning is an essential part of success for any business strategy. As tax laws continue changing, firms are advised to keep reviewing their financial and tax positions from time to time in order to be able to identify areas where improvements may be required.
Our tax advisory services in Singapore help firms create effective tax strategies that support growth while remaining compliant with prevailing regulations.
Proper tax planning helps firms minimise tax liability, manage cash flow, and benefit from available incentive schemes.
In the course of business tax advisory services, we take into account several critical considerations including revenue generation timing, business expansion plans, capital expenditure, financing plans and corporate restructuring options among others.
These factors may affect a firm's overall tax position. We help businesses to design tax mitigation strategies in consultation with our clients.
Case Study: Tax Advisory
Our tax advisory services provide expert guidance on tax planning, compliance, and GST matters. We assist in resolving IRAS audit queries, providing tax opinions and reports to support strategic decisions and regulatory compliance.
About The Company
Our Mission
At Morrison Management, our mission is to empower businesses by delivering comprehensive consulting services that ensure growth, efficiency, and compliance. Through innovative solutions, expert advice, and personalised services, we commit to helping our clients achieve their business and strategic goals.
Morrison Management is a top-tier business consulting firm based in Singapore, with operational support teams in the Philippines and India.
Established in 1987 under the name Raffles Corporate Advisory Services, the company has built a strong reputation as a trusted corporate services provider by working closely with associates in Southeast Asia. In 2018, the firm was rebranded as Morrison Management to reflect its expanded capabilities and forward-looking approach.
Today, we continue to empower businesses with expert advisory, strategic planning, and customised solutions to thrive in today’s fast-changing business environment.
At Morrison Management, we bring together a team of highly experienced professionals with deep expertise in Corporate Secretarial, Bookkeeping & Financial Reporting, Forensic & Special Accounting, Tax & GST Advisory, Business Restructuring & Recovery, Corporate Finance, Fundraising Support, Government Grant (EDG) Advisory, Strategic Planning, Liquidation & Insolvency Management, Financial Management Consulting, Board Advisory, and Litigation Support.
Our consultants are committed to helping all companies in Singapore and across the region overcome complex business challenges and achieve sustainable growth. Each member of our team is committed to delivering excellence and building long-term relationships with our clients. We work closely with our clients and adopt a collaborative approach to understand their needs and challenges, thereby allowing us to tailor corporate solutions that drive results.
Why Choose Us?
Following are the reasons why you should choose Morrison Consultants for your corporate needs.
● Proven Track Record: We have more than a decade of corporate experience and successful consulting engagements with businesses of all sizes.
● Comprehensive Services: We provide a full spectrum of consulting services under one roof.
● Experienced Professionals: Our team comprises industry experts and qualified professionals dedicated to your success.
● Client-Centric Approach: We offer personalised services tailored to meet your unique needs.
● Legal Compliance: We strive to ensure that all your processes are compliant with the regulations and standards.
Our Services
Our Accolades
Frequently Asked Questions (FAQ)
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A company is taxed at 17%, on its chargeable income regardless of whether the company is a local or foreign company.
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From YA2020 onwards, newly registered companies can enjoy 75% levy exemption on the first $100,000 chargeable income for the initial 3 years, followed by 50% levy exemption on the next $100,000.
Private companies registered in Singapore can also be exempted when it has as less than 20 individual shareholders and one shareholder hold minimum 10% of the ordinary shares issued of the company.
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No, Singapore has no capital gain taxes.
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Tariffs paid by companies of individuals are limited only to chargeable income. There is no tariff on dividend payments in Singapore.
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Tax advisory services involve providing guidance to organisations and individuals in relation to tax planning, compliance, risk management, and decision-making. The main objective is to help clients remain compliant while maximising available tax benefits and incentives.
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The tax laws in Singapore may be quite complicated, especially for expanding companies and organisations that conduct activities abroad. Professional tax advisory services help businesses manage compliance obligations, reduce tax risks, and maximise available tax benefits.
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In tax compliance, you are required to comply with legal obligations, such as preparing tax returns. In tax advisory, on the other hand, there is provision of strategic advice regarding your financial matters and taxes.
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Yes. Morrison Consultants provides corporate tax advisory services in Singapore for businesses across various industries. Our services include tax planning, tax mitigation, compliance reviews, corporate restructuring support, and advisory on available tax incentives and reliefs.
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Yes, through proper tax planning and advisory, companies can avail themselves of legal tax incentives, deductions, exemptions, and reliefs under Singaporean tax laws.