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Get The Best Services From The Top Business Consultants


Outsourcing companies in Singapore have been providing excellent services to the businesses here. They offer various services that help these companies to fulfill all obligations. There are many tasks that the companies must complete to remain compliant with the law. These service providers are a great help for small and medium businesses that are unable to appoint skilled people for all the jobs. These companies would like to limit their staff to the minimum that is necessary for carrying out their core functions. There are many functions in a company that can be outsourced to the service providers. One of the services that are very useful for these companies is the income tax services provided by these consultants.

Ensuring Prompt Payment Of Taxes

There are two kinds of income taxes that companies in Singapore must make sure to pay promptly. One is the corporate income tax and the other is the personal income tax. The corporate tax is based on the earnings that a company makes in a financial year. The government offers a lot of tax deductions and breaks on this. Many kinds of expenses can be deducted from the earnings to reduce your tax burden. Singapore has one of the lowest rates of corporate income taxes in the world. A service provider offering IRAS income tax services can help the companies to correctly calculate and pay the tax.

Personal income tax has to be paid by everyone working in Singapore. Even foreigners who are earning income in Singapore must pay the personal income tax. For tax residents, there is a limit to which they need not pay any income. The personal income tax is calculated in slabs depending on the total annual income. The dividend earnings of directors are not taxed as they are calculated after deducting corporate tax. The income tax assessment will be done once you have submitted your tax returns for which you can take the assistance of the service providers.

Fulfill Your Obligations Pertaining To Company Incorporation

One of the conditions for incorporating a company in Singapore is that you must appoint a company secretary within six months of incorporation. The post of a company secretary is very important and the person has many duties to perform. The company secretarial duties include proper maintenance of all books and records of the company. The company secretary is also responsible for fixing the year-end for the company and making sure that all returns are filed on time. He or she will also inform the ACRA concerning any changes in the constitution of the company.

For many companies, especially foreign companies, the main worry is about how to appoint a company secretary because the person needs to be a resident of Singapore. Apart from this condition, the person must be well-versed with the company laws of Singapore as he or she must guide the directors to run the company within the legal framework. The company secretary is also responsible for calling the annual general meeting and recording the proceedings.

The companies should avail company secretarial services from the consultants because they are experts in the job and will ensure that the company is functioning in full compliance with the law.

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