SingaporeIncorporationServices.Com Launches Updated Corporate Tax Calculator
Singapore, April 6, 2016 (Newswire.com) - Richmond Business Consultants Pte. Ltd., a complete corporate solutions provider, has launched an updated version of its Singapore Corporate Tax Calculator. The tool can be used by any corporate taxpayer whether individual, company or corporate entity in evaluating their tax liability for the current year of assessment (YA).
Initially launched in 2015, the tool was respectively utilized by foreign entrepreneurs and entities who are interested in benchmarking the corporate tax rate in Singapore against their home country.
With a line of tax deduction programmes, tax incentive schemes, and one of the lowest corporate tax rates in the world at 17%, Singapore proves to be an ideal location for doing business not only in the region but also in the world.
Anna Yuga, Digital Media Consultant
The Singapore company registration specialist has made the updated corporate tax calculator simple, user-friendly, and available free of charge on its website (www.singaporeincorporationservices.com). The filer only needs to correctly input the required basic information such as the chargeable income of his company and the tool will promptly display the effective tax rate.
Richmond also has other free tools for individuals and companies in Singapore including an Individual Income Tax Calculator that allows anyone to easily estimate their personal income tax rate sand an Annual General Meeting (AGM) Calculator which lets business owners know when they should schedule their next AGM.
With a line of tax deduction programmes, tax incentive schemes, and one of the lowest corporate tax rates in the world at 17%, Singapore proves to be an ideal location for doing business not only in the region but also in the world.
The tax exemption scheme for startup companies is an example of a tax relief programme ran by the Singapore government. Through it, qualifying newly-registered startup companies can get a tax exemption on the first S$300,000 chargeable income which can amount to a total of S$200,000 in tax savings.
The government also strictly enforces its tax policies. Every registered business in the city-state is required to properly maintain their accounts and have an accurate record of business transactions from invoices to receipts and other proof of sales. Providing inaccurate information when filing tax can lead to penalties. This goes the same for the late filing of taxes.
The Singapore corporate tax calculator can be useful in taking the guess work out of the equation. Corporate taxpayers will be able to estimate their tax payable, prepare tax computations accordingly and avoid penalties due to inaccurate or late tax filing.
Companies in Singapore must file its annual tax returns with the Inland Revenue Authority of Singapore (IRAS) by November 30 while e-filing’s deadline is December 30.
About Richmond Business Consultants Pte. Ltd.:
Richmond offers expert Singapore company registration, branch office setup, offshore company formation, secretarial, accounting and tax services to small and medium-sized enterprises in Singapore.
Get In Touch:
Richmond Business Consultants Pte. Ltd.:
16 Raffles Quay #41-01
Hong Leong Building
Singapore 048581
Telephone: +65 6423 0777
www.singaporeincorporationservices.com