Taxation Services

• Corporate Tax
• Personal & Partnership Income Tax
• Tax Investigation
• Representation on Objection and Tax Dispute cases
• Transfer Pricing
• Scope of Tax Compliance

• Consideration of withholding tax requirement
• Preparation of Form IR37
• Computation of withholding tax

• Computation of the amount of dividend to be declared based on one tier tax exempt
• Computation of amount of directors’ fees, bonus and dividends to be declared for

• Advice on GST registration requirements and possible structuring
• Setting up of procedures for newly registered traders for GST filing
• GST Health Check on compliance procedures and systems
• Attendance to tax queries from Comptroller of Goods and Services tax
• Request for early settlement of GST refunds or any outstanding credit balance
• Appeal for waiver of penalty when necessary
• Application for registration/de-registration and various schemes such as the Major Exporter Scheme
• Any other GST related issues

• Singapore Tax Structuring and Planning
• Tax Efficient Structuring of Employment Packages
• Cross-border Corporate and Personal Tax Planning
• Trust and Estate Planning

• GST Compliance
• GST Advice and Planning
• GST Health Check
• GST Investigation and Audit

• Putting in place good GST Practices comprising People, Record-Keeping, Systems and Internal Controls to properly handle the GST reporting of transactions;
• Self-assessment using the Pre-Filing Checklist to ensure that GST returns are correct before submission; and
• Performing Annual Review of past GST returns to detect errors early and to avoid costly penalties

Administrative Concessions for common errors disclosed through the ASK Annual Review

• Understand GST requirements on filing and record-keeping;
• Ensure accuracy of GST submissions;
• Reduce risks of incurring penalties on errors made;
• Discover past GST errors early for timely disclosure to IRAS, and enjoy zero or reduced penalties under IRAS’ Voluntary Disclosure Programme (VDP);
• Enjoy administrative concessions for common errors disclosed through the course of ASK Annual Review; and f) Fulfill requirement for application or renewal of specific GST schemes

The ASK Annual Review must either be performed by:

An Accredited Tax Advisor or Accredited Tax Practitioner with the SIATP would have the expertise and experience to assist businesses to better manage their tax affairs.

1. Review GST Declarations
2. Select GST Return(s) for Review
3. Perform Checks for the Selected GST Return(s)
4. Review and Compare Financial Statements against GST Declarations
5. Quantify Errors and Submit Findings to IRAS

• With our years of dealing with a diverse range of businesses we are familiar with the treatment of transaction and classification of supplies and purchases. Therefore with good practices and proper systems in place your susceptibility to errors will decline.
• We are accredited with Singapore Institute of Accredited Tax Professionals (“SIATP”) as Accredited Tax Advisor (GST) [ATA (GST)] is able to perform the GST ASK Review annually and ensure your GST compliance as well as help you fulfill the requirements to apply or renew for specific GST Schemes.
• If you choose to perform you review in-house we can also certify the review after a exhaustive evaluation.

JDT has its own in-house Accredited Tax Advisor to assist you in the certification so as to meet the regulators’ requirements.

• Tax Advisory Services with respect to setting up operations in Singapore
• Negotiation of tax incentives with relevant authorities
• Optimizing use of tax incentives and exemptions
• Negotiation and dispute resolution with the tax authorities

Similarly, Singapore introduced compulsory transfer pricing documentation from the year of assessment (YA) 2019. A new penalty regime was included for non-compliance with the transfer pricing documentation requirements.

Obligation to comply with the arm’s length principle

A Singapore taxpayer that enters into a controlled transaction (domestic or cross border) is obliged to comply with the arm’s length principle regardless of the type of transaction or value. There is no exemption from following the arm’s length principle.

Obligations to prepare Transfer Pricing Documentation in Singapore

TP documentation is expected to be prepared by taxpayers who entered into related party transactions to show evidence on how the price is in line with the arm’s length principle.

The requirements to prepare transfer pricing documentation are specified in Section 34F of the Income Tax Act (“TP Documentation Rules”), which is effective from Year of Assessment 2019. As per the Singapore Transfer Pricing Guidelines, the transfer pricing documentation must be prepared for the related party transactions undertaken in a basis period when either of these two conditions is met:

a. The gross revenue from trade or business for the basis period concerned is more than S$10 million; or

b. The company is required to prepare transfer pricing documentation for a previous basis period.

The transfer pricing documentation in Singapore should include information of companies as prescribed in the TP Documentation Rules that covers:

a. An overview of the group in which the taxpayer is a member relevant to the business operations in Singapore; and

b. The taxpayer’s business and the transactions with its related parties, including functional analysis and transfer pricing analysis.

IRAS imposes penalties for (1) non-compliance with arm’s length principle and (2) non-compliance with transfer pricing documentation requirement.

5% Non-compliance with arm’s length principle surcharge on TP adjustments regardless of whether there is tax payable.

Non-compliance with transfer pricing documentation of S$10,000

for the following offences: 1) Failure to prepare TP documentation by the time for the making of the tax return 2) Failure to prepare transfer pricing documentation with the details and in the form and content as prescribed by the TP Documentation Rules 3) Failure to retain TP documentation for a period of at least 5 years 4) Failure to submit TP documentation within 30 days from a request by IRAS 5) Providing TP documentation that is false or misleading.

The non-compliance offence applies to every offence. Therefore, if a taxpayer does not prepare TP Documentation for one basis period or more, the fine applies to each year. For example, a company that is required to prepare TP Documentation but fail to prepare it for YA 2019, YA 2020 and YA 2021. The non-compliance fine will be SG$10,000 per year for a total for SG$30,000.