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Tax Advisory Services
According to the statutory requirements of the Singapore Income Tax Act, all incorporated companies are required to submit annual levy returns and Form C to the Comptroller of Income Tax.
Businesses need to consider the implications of each financial decision. With more and more businesses having operations in WFH settings and overseas, the challenges of doing business in the globalised marketplace need to be correctly addressed.
Our professionals are well versed in analysing financial and tax problems, formulating solutions and will enlighten you on the various aspects of taxes including deductions and benefits.
Tax Mitigation
Corporate Tax Consultancy Services
Tax Planning
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 need to submit two corporate income tariff returns to IRAS every year.
Estimated Chargeable Income (ECI) within three months from the company’s financial year.
Corporate Income Tax Returns known as Form C/C-S by 15 December after the company’s financial year.
Companies are entitled to qualify for exemptions, deductions, rebates and grants. Our professionals are well versed in legally lower the tax payables, ensuring the completeness of tariff returns and filing on time to avoid incurring costly penalties.
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
Businesses need to consider the future financial plan from a levy perspective. Planning your tariff is a legal means to help you reduce your future burden.
Planning can be crucial to most companies, as levy laws have been known to change every few years. To maximise the advantage of tariff breaks, entrepreneurs should hire experts to help optimise the company’s financials. Saving up on certain amounts can be used to reinvest into the company’s operations.
Our professionals are well versed to ensure maximum efficiency with considerations such as the timing of income and expenses, acquisition of investments, capital assets, borrowings and retirement plans.
About The Company
Our Mission
At Morrison Consultants, 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 Consultants is Singapore’s top-tier consulting service provider that offers comprehensive services across various industries. Founded in 1987 as Raffles Corporate Advisory Services, the company had established itself as an experienced corporate service provider in Singapore and the Philippines. In 2018, the company was re-branded as Morrison Management and continues to be a trusted partner for businesses, offering them expert guidance and innovative solutions to navigate the complexities of today’s dynamic market landscape.
At Morrison Consultants, we are a team of seasoned professionals who are experienced in providing comprehensive and personalised consulting services. Our team possesses strong backgrounds in finance, business management, and technology, which allows them to prioritise client success through tailored strategies and actionable insights. 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, which helps 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)
+ What is Singapore Corporate Tax Rate?
A company is taxed at 17%, on its chargeable income regardless of whether the company is a local or foreign company.
+ Are newly registered companies exempted from taxes?
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.
+ Does Singapore have capital gain tax?
No, Singapore has no capital gain taxes.
+ Are there taxes on individuals for dividend payments?
Tariffs paid by companies of individuals are limited only to chargeable income. There is no tariff on dividend payments in Singapore.