Tax planning is an area that should be looked into during the course of business planning and setup. There may be avenues for tax minimisation. This is especially true for owner-operated businesses in which the owner or shareholder is also the person managing and running the business. How then should one plan for and minimise tax exposure?
There are also existing economic and tax incentives in Singapore to encourage the development of earmarked industries. Would these be applicable to your business?
What about the Goods and Services Tax – are you required to register as a GST trader, or should you register voluntarily?
Yes, taxation is a very complex matter, and it is advisable that various tax issues be considered at the incorporation stage. Our business associates will be able to provide tax planning advice if required and we work in concert to recommend tax-efficient structures for your business.