Productivity Software For Singapore Income Tax Computations
SMEs are eligible for up to 50% Productivity Solutions Grant (PSG) support for the adoption of SINGTAX Corporate, a Pre-Approved Solution under the IMDA SMEs Go Digital programme.
Productivity Software For Singapore Income Tax Computations
Watch how to maximize your productivity using IRAS' #SFFS Pre-fill and Submission of Form C-S API services
via SINGTAX Corporate software
By fully automating the tax calculation process (a constant bottleneck), SINGTAX radically reduces the time taken to finish a tax computation. Its ease of use enables even tax novices to perform fairly complex tax computations quickly.
Guided by the systematic approach built into the software, you do not need high level staff to perform these tax calculations. Higher level staff who usually do the review work can then focus purely on tax issues and risks instead of checking calculations and cross referencing.
The management of staff turnover risk is also addressed since there are no worries about different formats or formulas used by different staff. Standard formats and formulas will be adopted as a result of using SINGTAX.
SINGTAX empowers tax personnel to work smarter and more efficiently resulting in productivity growth. The resultant productivity growth translates to substantial cost savings as well as better profits for the firm or individual performing these computations.
SMEs are eligible for up to 50% Productivity Solutions Grant (PSG) support for the adoption of SINGTAX Corporate, a Pre-Approved Solution under the IMDA SMEs Go Digital programme.
Performs tax computations for Trading, Investment Holding, Shipping, etc. Companies
SYSTEMATIC VISUALS
SINGTAX entry modules are arranged visually to enhance usability and adaptability of the tax workflow
FOREIGN CURRENCY TAX COMPUTATIONS
SINGTAX is able to perform tax computations in non-S$ functional currency using rates extracted from the Monetary Authority of Singapore (MAS) website
IMPORT FUNCTION
Easily import Profit & Loss statement, fixed assets, etc. data from spreadsheet templates into SINGTAX entry modules
AUTO SCHEDULING & CROSS-REFERENCING
SINGTAX automatically generates relevant schedules which are cross-referenced and updated accordingly
PRE-FORMATTED TEMPLATES
Standardised tax computation format set according to the Singapore Income Tax Act makes review work much easier
INBUILT TAX RULES
SINGTAX is inbuilt with tax rules and calculations including medical expense restriction, capital allowance, group relief, carry back relief, tax exemption schemes, foreign tax credit pooling, interest restriction, Enterprise Innovation Scheme (EIS) (YA 2024 - YA 2028) etc
FIXED ASSETS SCHEDULING
SINGTAX is able to generate detailed fixed assets schedules such as additions to fixed assets schedule, hire purchase capital allowance schedule, disposal, etc
AUTOMATIC ADJUSTMENTS
SINGTAX is able to perform auto adjustments according to the level and rules as stipulated in the Singapore Income Tax Act. eg. order of set-off of capital allowances, losses, donations against income
EXTENSIVE ERROR CHECKS
Extensive error checks are performed at data entry and throughout the tax computation process by SINGTAX automatically
EXPORT DATA TO FORMS
SINGTAX automatically fills in relevant tax forms (Form C/C-S) after tax computations are generated
EXPORT TAX COMPUTATIONS
Export or print the tax computations generated from SINGTAX to file types such as XLSx, PDF & RTF with one click
CARRY FORWARD DATA
SINGTAX allows carry forward of data to the next Year of Assessment with one click
Performs individual computations for expats including Area Representative, NOR (Not Ordinarily Resident),
Tax-On-Tax, and Non-Resident computations
WIDE RANGE OF TAX COMPUTATIONS
Ability to perform a wide range of computations including Area Representative, NOR (Not Ordinarily Resident), Tax-On-Tax and Non-Resident computations as well as combinations of these
BENEFITS-IN-KIND
SINGTAX incorporates templates to input all types of income as well as benefits-in-kind for employment income including accomodation and car
RENTAL INCOME
SINGTAX has the ability to perform unlimited properties' rental income and automatic time apportionment of expenses for vacant periods. For residential use, SINGTAX will also automatically compare the actual expenses against deemed expenses and select the tax-saving option
PERSONAL RELIEFS
Personal reliefs calculations with pre-set amounts as well as threshold and tax guidance notes are inbuilt into SINGTAX.
Donation deduction amounts are also
automatically calculated by the system
based on the respective YA
OTHER RELIEFS
All other possible reliefs claimable such as Loss Transfer Relief and Loss Carry-Back Relief are inbuilt.
This ensures that you maximize
opportunities for tax savings
for your clients
PERSONAL TAX FORMS
Print FORMS IR8A, FORMS IR21, NOR FORMS and tax computations generated to file types such as XLSx, PDF & RTF
Data can also be carried forward
to the next YA with just one click
Prepare unlimited tax computations for unlimited clients!
No. of LicensesEach license allows only one useraccess at any one point in time |
SINGTAX CorporatePrice per software licenseS$ |
SINGTAX PersonalPrice per software licenseS$ |
|---|---|---|
| 1 | 1,500 | 1,500 |
| 2 | 1,425 | 1,425 |
| 3 | 1,350 | 1,350 |
| 4 | 1,275 | 1,275 |
| 5 and above | 1,125 | 1,125 |
| Yearly Maintenance Renewal | 650 | 650 |
SMEs are eligible for up to 50% Productivity Solutions Grant (PSG) support for the adoption of SINGTAX Corporate, a Pre-Approved Solution under the IMDA SMEs Go Digital programme.
For more information on Productivity Solutions Grant (PSG), visit https://www.enterprisesg.gov.sg/financial-support/productivity-solutions-grant and https://services2.imda.gov.sg/ctoaas/solution/20220516/singtax-corporate .
Tax Connection has been invited to give talks on SINGTAX by various government agencies such as IRAS, (then) SAC and IMDA as well as professional bodies like SCTP and ACCA.
Cannot see the above article?
Click here to see the text version.Incorporated in the year 2010, Tax Connection Pte Ltd is an independent software company dedicated to developing tax software for calculating Singapore Income Tax.
Our mission is to provide software solutions to increase productivity for the tax industry in Singapore.
Tax Connection is the creator of SINGTAX Corporate which is a pre-approved “Tax Management” IT Solution for the Accountancy Sector with effect from 14 Sep 2023 to 7 Sep 2025. View SINGTAX Corporate pre-approved solution here. For more details of the PSG Grant, visit https://www.enterprisesg.gov.sg/financial-support/productivity-solutions-grant .
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