Tax

Tax regimes across the world undergo frequent changes in response to economic growth and challenges. At Baker Tilly, we are committed to providing both businesses and individuals with sound, timely and practical advice, whether they are setting up businesses, conducting cross-border transactions, structuring investments, or going public.

How Baker Tilly Can Help

Compliance Services

We prepare Singapore tax returns for organisations ranging from corporate bodies to professional sole proprietorships and partnerships, as well as for expatriate employees, high-net-worth individuals, trusts and estates. We also handle negotiations and correspondence with the Inland Revenue Authority of Singapore (IRAS), including enquiries arising from IRAS audits or investigations.

Advisory Services

Our professional team helps clients who set up businesses in Singapore to navigate the tax environment. We also offer guidance to investors venturing into the region, giving advice on how to structure their investments to achieve optimal after-tax returns.

Cross-Border Transactions Services

As part of an international network, Baker Tilly is well positioned to help clients understand tax ramifications at home and abroad and comply with the tax rules of the relevant countries.

Employee Consulting Services

Foreign businesses seconding employees to Singapore, and Singapore companies sending staff abroad can rely on our team to help them design tax-effective employee compensation packages and implement tax equalisation policies.

Goods and Services Tax (GST) Services

With the global shift from direct to indirect taxes and changing business models due to ongoing digitalisation of the economy, it is critical for businesses to be on top of the changes and to take a pro-active approach in managing their GST risks. Otherwise, it can result in penalties which can be costly and worse, reputational risk for businesses.

How we can help

Our specialist team is well placed to support you across a wide spectrum of GST matters:

GST compliance and planning

Assess GST registration liability
Application for GST registration/exemption from GST registration/GST group registration/divisional registration
Advise on start-up issues (e.g. recoverability of GST on expenses, GST treatment and tax coding in system, transaction table)
Advise on different types of GST schemes (e.g. MES, IGDS) and assist with the application of such GST schemes
Review and e-filing of GST F5/F7/F8 returns
E-Filing of Statement of Claims (SOC) for Qualifying Funds, S-REITs, Qualifying S-RBT

GST reviews

Perform GST health check reviews
Perform reviews under the Assisted Self-Help Kit (ASK) for the application/renewal of GST schemes/voluntary disclosure of errors
Perform reviews under the Assisted Compliance Assurance Programme (ACAP)
GST due diligence reviews

GST advisory

Advise on GST treatment of day-to-day business transactions
Advise on GST implications of new business models or cross-border transactions
Advise on GST implications of the transfer of business, cessation of business, liquidation
Advise and planning for IPO
Customised in-house GST training

Tax dispute resolution

Support in tax audits and/or tax investigation process with IRAS
Support in objection/appeal to IRAS’ decisions

For foreign companies

Advise on GST implications on foreign companies’ business activities in Singapore
Assess foreign companies’ GST registration liability in Singapore under the Overseas Vendor Registration (OVR) regime
Assist with the application for GST registration under the OVR regime
Assist with the e-filing of simplified GST returns

Who Needs Tax Services?

Corporations, charities, sole proprietorships, partnerships, expatriate employees, high-net-worth individuals, trusts and estates. All legal entities can benefit from tax services in terms of assurance of compliance with the relevant laws and, where possible, reduction in overall tax costs.