Tax

Corporate Tax, Personal Tax and GST

Are you Tax Compliant?

As companies grow and expand their businesses globally, compliance with corporate tax as well as personal tax requirements for your team in various Asian countries become increasingly complex. Ledgen Group will provide you with ease of mind and a hassle-free experience by taking care of these complex tax matters on your behalf.

As a client of Ledgen Group, you will have access to our team of tax experts that has a deep and up-to-date understanding of tax requirements and compliance.

We can assist you with the following:

Corporate Tax

Prepare and file estimated chargeable income and annual income tax returns

✓ Verify assessments issued by local tax authority, lodging objections and submission of appeals

✓ Handle investigations and queries raised by local tax authority

✓ Handle withholding tax compliance

✓ Handle voluntary disclosure and compliance

✓ Apply for Certificate of Residence, tax incentives and advance ruling for proposed business arrangements

✓ Perform tax due diligence on potential acquisition targets

✓ Advising on tax implications for:

   a) Mergers, acquisitions and restructuring

   b) Proposed business contracts, transactions or arrangements

   c) Financing arrangement structures for investments

Personal Tax

✓ Prepare and file annual tax return

✓ Verify assessments issued by local tax authority, lodging objections and submission of appeals

✓ Handle investigations and queries raised by local tax authority

✓ Obtain tax clearance for expatriates

✓ Handle voluntary disclosure and compliance

Goods and Services Tax (GST) (if applicable)

✓ Review or prepare and file GST returns

✓ Verify assessments issued by local tax authority, lodging objections and submission of appeals

✓ Perform GST compliance review and health check

✓ Apply for registration and de-registration of GST

✓ Apply for exemption from GST registration

✓ Apply for GST incentive schemes

Our team is highly experienced in servicing the needs of individuals and companies. We can work on short notice to ensure you receive a quick turnaround. We will advise clients on tax regulation and compliance matters including internal control to facilitate compliance with the tax legislation, and on areas for improvements.

 

 How has Ledgen Group helped our Clients?

Case Study 1: Capital gain

Our client is a Singapore investment holding company. The client disposed of its investment in shares and derived a huge gain which they opined as not taxable. Local tax authority challenged the non-taxability of the gain. We presented to local tax authority our capital gain argument relying on the “badges of trade” test and relevant documentary evidence. Our capital gain argument was successful and the client was overjoyed with the outcome.

Case Study 2: Voluntary disclosure of GST

Our client’s internal staff did not possess sufficient knowledge on GST and therefore made mistakes in their invoices to customers. We assisted our client in writing to the Comptroller of GST for voluntary disclosure for wrongful collection of GST. Our client subsequently appointed us to review its GST returns prior to submission to local tax authority.

Case Study 3: Waiver of shareholding test

Our in Singapore client in the business of trading in chemical products had huge tax losses. The unutilised tax losses can be deducted against future income if the company satisfies the shareholders’ continuity test. Our client’s ultimate holding company was acquired by another company, resulting in a substantial change in shareholders. Thus, the tax losses would be forfeited. We applied to the local tax authority to request a waiver of the shareholding test and successfully demonstrated that the substantial change in shareholders was not for deriving any tax benefit. Accordingly, our client was allowed to carry forward the tax losses subject to certain conditions.

Case Study 4: Withholding tax compliance

Our client in Singapore had a trade payable due to an overseas company and interest was charged on this overdue trade account. When preparing the annual income tax computation for our client, we discovered that the client had not reported withholding tax applicable on the interest. We advised our client to disclose the non-compliance of withholding tax via the Voluntary Disclosure Programme (VDP). With our timely disclosure of the error, no penalty was imposed by local tax authority. The client was elated with the outcome.

 

Get in touch and discover how we can help

Got a question or inquiry? Come talk to us today.

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