International tax solutions in Singapore
Understanding the complexities of international tax is essential for businesses operating globally. In Singapore, it is important to grasp and manage cross-border tax responsibilities, which necessitates a thorough understanding of local laws as well as international tax agreements. Our method is tailored to assist businesses in tackling these challenges confidently, ensuring they adhere to regulations while enhancing their international tax strategies. We prioritize precision and strategic perspective, allowing companies to fulfill their tax duties efficiently while taking advantage of tax efficiency opportunities across different jurisdictions.
International tax rate
Singapore’s international tax framework emphasizes taxation on income generated within the country and foreign income that is brought into Singapore. The corporate tax rate is set at 17%, while individual income tax rates vary from 0% to 24%. The country has a broad array of double taxation agreements (DTAs) that help alleviate the burden of double taxation. Starting in 2025, multinational corporations will be required to adhere to a global minimum tax rate of 15%.
Our international tax services
We provide a complete range of international tax services aimed at helping businesses navigate the complexities of cross-border taxation in Singapore. Our objective is to guarantee full compliance while improving your global tax situation, enabling you to concentrate on growing your international operations. Our offerings encompass:
Cross-border tax compliance
Our services for cross-border tax compliance guarantee that your international tax submissions are precise and submitted on time, following the tax laws of both Singapore and other countries. We assist you in navigating the requirements for reporting, documentation, and filing deadlines across various jurisdictions. This service mitigates the risk of penalties and keeps your business in alignment with international tax regulations.
Transfer pricing advisory
We offer specialized Transfer Pricing Advisory services to aid your business in creating and documenting pricing strategies for transactions between interconnected entities across various countries. Our team helps formulate transfer pricing policies that adhere to Singapore regulations and OECD guidelines, reducing the likelihood of conflicts and penalties. Additionally, we perform benchmarking studies and generate transfer pricing documentation to validate your pricing structures, ensuring compliance with both local and global standards.
International tax planning
We specialize in international tax planning by creating strategies that enhance your global tax situation. We collaborate closely with you to pinpoint and leverage tax treaties, credits, deductions, and exemptions that can lower your overall tax liability. Additionally, we offer advice on organizing your international operations to reduce the risk of permanent establishment and address other international tax issues, ensuring that your global tax approach is in harmony with your overall business goals.
Tax treaty analysis and optimization
We provide expert analysis and optimization services for tax treaties to enable you to maximize the benefits of Singapore’s network of double taxation agreements (DTAs). Our team examines the relevant treaties to uncover opportunities for minimizing withholding taxes, preventing double taxation, and taking advantage of treaty benefits. This service is especially beneficial for companies involved in cross-border investments, financing, and supply chain operations.
Foreign tax credit management
Our services for managing foreign tax credits help companies make the most of these credits to prevent double taxation on income generated overseas. We offer advice on how to claim credits for taxes paid in different regions, ensuring that your company fully utilizes these credits while adhering to Singapore’s tax regulations. This contributes to lowering your total global tax burden and enhancing your cash flow.
International tax system
Grasping the intricacies of the international tax framework in connection with Singapore is crucial for companies functioning across borders. Our knowledge equips you with an in-depth comprehension of the regulations surrounding international taxation, including the effects of worldwide tax reforms like the OECD’s BEPS initiatives. We assist you in dealing with the hurdles of global tax compliance and offer strategic guidance to improve your international tax effectiveness.
Contact us
For additional information about our international tax services or to talk about how we can help your business navigate cross-border tax challenges, feel free to contact us.
Disclaimer
Tax laws and regulations are frequently updated and can differ depending on personal circumstances. The information given here serves as general guidance and might not represent the latest changes. It is strongly advised to seek the expertise of a qualified tax professional for specific and current advice tailored to your situation.