Our tax-related services include:
- Corporate tax compliance & advisory
- Individual tax compliance & advisory
- Tax planning
- Tax audits and investigations
- Tax advisory on corporate exercises
- Indirect taxes
- Foundation and trusts
- Tax health check
- Transfer pricing
Stricter penalties, new documentation requirements, increased information exchange among government agencies, tax field audit, "street survey”, improved training and specialisation of Inland Revenue staff are some of the tools used by the Inland Revenue Board to monitor the tax regime under self-assessment system.
As such, we deliver our tax compliance services through a standardised procedure, which has been specifically designed to bring both efficiency and quality to the compliance process.
Apart from tax compliance services, our tax professionals will work with clients to develop an overall comprehensive and innovative tax planning strategy in identifying tax saving opportunities. This includes:
- Reviewing tax returns for any open years to identifying areas of potential exposures or areas where refunds might be claimed;
- preparation of income tax computations and supporting schedules for submission to the Inland Revenue Board;
- applying for and making payments of tax including withholding tax to the Director General;
- attending to any tax queries raised by the Inland Revenue Board in the course of finalising the tax assessments;
- filing appeals against any excessive assessments;
- requesting for refunds of any tax overpaid;
- tax compliance work such as reviewing statements of income of the company’s employees prior to submission to the Inland Revenue Board, filing the employer’s return Form E, filing notification of commencement and cessation of employment of the company’s employees, obtaining tax clearance etc;
- assisting our clients in applying for tax incentives e.g. pioneer status and investment allowance;
- compliance and consulting work on Real Property Gains Tax;
- assisting clients in areas where tax can be minimised within the existing law and practice;
- identifying alternatives available to clients in restructuring and reorganising their group of companies;
- describing the tax consequences of each alternative in any tax planning scheme and assist in weighing the comparative advantages and disadvantages of each alternative;
- Maximising capital allowance claims on buildings and other qualifying capital expenditure. In carrying out this assignment, we employ a checklist approach and rely on the provisions of the Income Tax Act and precedent tax case decisions.
- alerting clients of any tax exposure to their companies and assist in finding solutions to overcome or reduce the exposure; and
- advising on any general tax matters that may arise from time to time.