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Tax Consulting

Tax Consulting

Intercontinental Accounting Services (IAS) offers a full range of tax services in Singapore, along with accounting services in Singapore, to businesses. IAS’s tax services are flexible depending on the unique needs and actual conditions of your company.

Our experienced tax professionals will handle the taxes that your company is entitled to. They have expertise about taxes and strong awareness of the benefits that the government is offering. Thus, engaging our services will help you save money and give you ample time to focus on the growth of your company. Through tax advice and assistance, our staff will enlighten you on the various aspects of taxes including tax deductions and tax breaks.


Why should you be stacked in administration and accounting work. We take the burden off your shoulder’s and help you focus on what really matters to get your business growing.


With our archiving capacities and constant education of our staff, monitoring ever changing regulations and global finance requirements we are sure we can be a valuable ally in your expansion.

A company is taxed on the income earned in the preceding financial year. This means that income earned in the financial year 2015 will be taxed in 2016.

In tax terms, using the same example as above, 2016 is the Year of Assessment (YA). In other words, the YA is the year in which your income is assessed to tax.

To assess the amount of tax, IRAS looks at the income, expenses, etc. during the financial year. This financial year is known as the “basis period“.

The basis period is generally a 12-month period preceding the YA.

Goods and Services Tax or GST is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs), as well as nearly all supplies of goods and services in Singapore. In other countries, GST is known as the Value-Added Tax or VAT.

GST exemptions apply to the provision of most financial services, the sale and lease of residential properties, and the importation and local supply of investment precious metals. Goods that are exported and international services are zero-rated.

When you earn foreign income from a treaty country, you may be subject to tax in that foreign country. However, you may wish to claim the DTA benefits that entitle a Singapore tax resident to enjoy a reduced tax rate or a tax exemption in that foreign country.

To enjoy this benefit, you need to submit the Certificate of Residency (COR) to the foreign tax authority to prove that you are a Singapore tax resident.