Crowe Singapore Budget 2020 Newsletter

Singapore Budget 2020 Insights

View videos and access resources on the key tax changes announced in this year's Budget.

Is your business truly tax efficient? 

Every day – somewhere in the world – tax regulations, rules, and treaties change. Strategies that reduced taxes yesterday may not work today. New opportunities to save money could be missed – especially as you enter new markets. The talented tax staff in your organization might not have time to keep up with each nuance. Your current tax advisor may think your company is too small for personal attention – or your advisor may be too small to serve you.

Successful companies consider tax implications before they make business decisions, so they do not pay more than their legal obligation. This makes international tax compliance, consulting, and structuring a crucial element in your global strategy.

Every business transaction no matter how large or small has a tax consequence, and few decisions are taken without considering the tax implications.

In this regard, we play a key role in corporate decision-making and clients value our close and frequent involvement. Tax involves far more than the annual corporate or individual tax returns demanded by the tax authorities. Our work includes advising clients on how to achieve specific business objectives - acquisitions, investments, restructuring - in the most tax efficient manner, and providing business solutions to an array of complex and challenging tax problems, many of which involve international tax issues.

Our approach is always innovative and business-focused. We strive to increase our clients' level of compliance without undue disruptions to their daily operations. At the end of the day, our client's needs are our concerns and they can count on us to be there when major decisions are made.

We offer a full range of solutions to assist businesses and individuals to comply with, and manage, a broad range of taxation obligations.

Individual Tax Compliance and Advisory 

In today's fast-paced environment, clients need to count on someone to manage personal tax affairs and ensure that wealth is not eroded by unnecessary taxes, levies and duties.

Our team have deep competencies to assist clients in the following:

  • Individual tax compliance
  • Tax planning for in-bound expatriates
  • Development of tax effective compensation strategies
  • Tax equalisation calculations
  • Tax planning for secondment arrangements
  • Tax-oriented investment evaluations and planning
  • Stock options advisory
Corporate Tax Compliance and Advisory

Corporate tax compliance is more than just filling up forms. We constantly strive to understand our clients' businesses in detail and assist them in adding value by identifying and implementing tax saving opportunities.

Our value proposition stems from our culture of total commitment to our clients' needs. This means meeting all corporate tax compliance deadlines in the most efficient manner.

Our list of services includes the following:

  • Corporate tax return preparation
  • Negotiation of tax incentives with relevant authorities
  • Advice on forms of business operations
  • Optimizing use of tax incentives and exemptions
  • Utilization of tax losses
  • Negotiation and dispute resolution with the tax authorities
  • Corporate tax planning review
International Tax Advisory

Through timely application of our deep knowledge of international tax, we provide innovative solutions to our clients to reduce their global tax burden.

Our international tax practice offers the following solutions: 

  • Inbound and outbound investment consultancy
  • Withholding tax management
  • Tax treaty issues and planning
  • Holding company structure planning
  • Regional tax review
Transaction Support Services

Almost all business transactions have tax consequences. By working with clients from the start of a transaction to its successful completion, we help clients maximize their after tax returns.

Our integrated approach involves working closely with other team members of the various Crowe Horwath First Trust practice areas such as corporate finance, assurance, accounting advisory services, to ensure that the transaction is completed in the most efficient manner and that clients achieve the maximum possible value.

Our tax experts assist in the following:

  • Tax due diligence
  • Cross border acquisitions and mergers
  • Tax-based financing structures
  • Liquidations and receiverships
  • Reorganizations and reconstructions
  • Flotation (IPO)
Goods and Services Tax

GST is far more complex than normally perceived. The price of non-compliance can be hefty and it is important to ensure that client's organization is up-to-date with compliance requirements. Our GST services are focused on rendering advice on the GST implications on various business issues and transactions.

We offer the following GST services:

  • GST compliance
  • GST advisory and review
  • GST health-check and risk assessment 
Private Wealth Services

Entrepreneurs spend much of their life building their wealth. We assist them to manage and protect their wealth effectively. In this regard, we work closely with business owners to define strategies with regard to succession planning, wealth optimization and planned giving.

Our private wealth services include:

  • Succession planning
  • Tax risk management  
  • Advice on creating charitable trusts and foundations 
Tax Dispute Resolution

We advise on managing tax enquiries from the IRAS, voluntary tax disclosures and tax disputes with a view to finding cost effective solutions.

Our services include:

  • Advising and assisting with voluntary disclosures to IRAS
  • Drafting responses to tax queries
  • Assisting in resolving tax disputes
  • Assisting in applying for advance rulings
  • Negotiating additional time to pay outstanding tax liabilities

Connect with us

Sivakumar Saravan Crowe Singapore
Sivakumar Saravan
Senior Partner
Tax and Corporate Services