Are you stressed out by filing taxes on your own and still cannot pay taxes on time due to mismanagement? Tax-filling can be a very time-consuming and tedious job, and you may not always end up doing it right. You must be thinking now that if you won’t tax file for your business, then who will do it on your behalf? Well, the answer is simple, all you need to do is consult tax filing in Singapore. They will ensure that you pay all your taxes on time and don’t pay any extra charges.
A lot of questions might arise in your mind, like why is there a need to pay? Is must for your small business to pay those taxes? Why should you seek help from tax filing services? And the list of questions goes on. Here we will address all your concerns.
Why Should you Pay Tax?
Tax refers to the amount imposed by the government and must be paid by the individual or any corporation. Filling and paying taxes on time increase revenue and living standards of a country. Moreover, it helps nation-building.
Note: You must only pay taxes if your credit statement falls above a certain range.
Is your Company Eligible to pay Tax?
The criteria of eligibility are as follow;
- The number of individual shareholders must not be more than 20.
- A single shareholder must have at least 10% of the share.
- Investment and property companies are excluded from eligibility criteria.
What are the Steps for Tax Filing in Singapore?
Tax filing is a simple process, and you must follow these given steps:
- Gather your documents
- Sign in to myTax portal
- Check all your details
- Update already filled tax relief
- Update about all your sources of income
What Mistakes Should you Avoid During Tax Filing in Singapore?
Be extra careful while you are tax filling and refrain from following.
- Not tax filing your return
- Incorrect declaration of business income
- False relief claims
- Incorrect our incomplete documents
Why Should you Seek Help From Tax-Filing Services?
Availing tax filing services brings many benefits for your business. Let’s discuss how and we guarantee that you wouldn’t resist hiring one for your company.
Accuracy
Tax filing on your own can lead to many errors as the tax process in Singapore is quite complex. And you are not always aware of all the tax requirements. To enhance the accuracy, you must trust these tax filing services.
Efficient working
A professional tax filing firm has qualified staff who is well aware of all tax filing requirements in Singapore. They will stay updated on any changes in tax requirements and generate your tax reports accordingly in no time.
Save you from Extra Charges.
Understanding the tax system can be pretty frustrating, and if you dont pay your taxes on time or incorrect payment may lead you to fine. Tax filing firms in Singapore can save you from extra charges.
Save your Time
If you are thinking about doing this job on your own, remember you may need to spend hours on it, which may turn out a nightmare for you.
Tax Situation of your Business
In a business, every transaction you do comes with a tax. So if you are running a business on a larger platform, it means you do many transactions in a day, and you have to take so much under consideration. It is wiser to go for tax filing services if you have a complex tax situation.
What will Happen If you don’t File Taxes on Time?
Tax file is done through myTax portal, and you shouldn’t delay while doing so as the last-minute process has high chances of errors, and late tax filing will cause you fine.
With so much going around in your business, you may neglect the tax filing; this is why you should always go for tax filing services. They will handle everything for you, leaving you with complete peace of mind.
Are you Paying Double Taxes?
Sometimes, Singapore residents with foreign income may be asked to pay double taxes. How to avoid such a case? The Inland revenue authority of Singapore has stated a foreign tax credit scheme.
It is important to stay updated with all the schemes and policies of IRAS to save yourself from paying double taxes.
How will We Help?
WZ WU & partners is a reputable firm and provide reliable tax filling services in Singapore. We guarantee you efficient and accurate tax services. Our staff is highly professional when handling your taxes and ensures that no stone is left unturned in meeting your demands. Our team is familiar with all the tax requirements and makes sure you stay in compliance. We keep you away from any risks and save you from penalties, ensuring all your tax reports are generated accurately and promptly.
No matter how complex your business tax situation is, we will manage it seamlessly. The satisfaction of our clients is our utmost priority, so we assist them and keep them in the loop regarding their business performance.
Tax filing progress is ending, but why let tax filing come between the progress of your business when you have us by your side. We will manage everything for you, so you never get distracted from focusing on your business.
Your trust in us is what keeps us going and forces us to do even better. Give us a chance and make us a part of the progress of your business; you will be amazed to see what we have to offer.
If you have any queries, you can leave us a message here or give us a call; we would be happy to assist.
