Our tax professionals work in close collaboration to assist in IRAS queries on all the company’s tax matters. Fax. The classification of income and expenses for income taxable at concessionary and prevailing corporate tax rates. To help you save a trip to IRAS, you may like to call us first and let us help you resolve your tax matters over the phone. Any revenue gained from Singapore or transferred from foreign countries is liable to be charged under corporate tax. What is the contribution deadline? Group relief claims. For IRAS … The statuary board of Singapore, IRAS, maintains a strict policy for corporate tax filing and imposes heavy fines on companies for inaccurate tax filing, late or non-payment of corporate tax and especially Tax … In the past, the IRAS has focused its compliance efforts on the following: The timely filing of corporate tax returns. Topics of focus for tax authorities. If you need to see our tax officers, please make an appointment with us at least 2 working days in advance. Taxability of distributions: Publication 575, Pension and … IRAS office is located at 55 Newton Rd, Revenue House, Singapore 307987. In addition, earnings distributions prior to age 59 1/2 are subject to an early withdrawal penalty. An effective tax strategy has now become a critical part of a very practical and well-developed solution for … For IRAS hotline, please click here for contact information. 5. IRAs: Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs) Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs) Publication 3125 PDF, An Important Message For Taxpayers With IRAs - IRS does not approve IRA investments. Roth IRAs are after-tax accounts, meaning you pay tax on your money now, but the funds in your account receive tax-free treatment once you retire. 63568233. IRAS Singapore is part of the statutory board of the Singapore government established under the Ministry of Finance and tasked with being in charge of Singapore tax collection. In addition to IRAs, this relief applies to 401(k) plans, 403(b) plans, profit-sharing plans, and others. Tax exemption for foreign-sourced … Once a dormant company recommences business, or starts to receive any income, the company has to notify IRAS within one month from the date of commencement of business or earning/ receiving the income by writing to [email protected] to request for an Income Tax Return with all the following details … The IRA contribution deadline is typically April 15, the same day as the tax return deadline, but can vary depending on the year. Since you took the withdrawal before you reached age 59 1/2, unless you met one of the exceptions, you will need to pay an additional 10% tax on early distributions on your Form 1040. Property For Corporate Property OwnersFrom 1 Sep 2018, CorpPass will be the only login method for online corporate transactions with the Government. You may need to complete and attach a Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts PDF, to the tax … In general, section 2202 of the CARES Act provides for expanded distribution options and favorable tax treatment for up to $100,000 of coronavirus-related distributions from eligible retirement plans (certain employer retirement plans, such as section 401(k) and 403(b) plans, and IRAs) to qualified individuals, as well as special … 63513636 (Individual Income Tax) 63514358 (Business Income Tax) 63512707 (Tax Clearance) 63513553 (Goods & Services Tax) 63514360 (Corporate Tax) Tel. 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