Tax Services: What does a tax agent do?

What is a tax agent?

A tax agent is assigned to prepare the income returns for filing as required for ten or more taxpayers. A tax agent is an acknowledged partner of IRAS in managing the Singapore tax system. They collaborate to help a tax agent comply with their tax duties and add more excellent value to their clients. A tax agent gains essential insights to resolve the customers’ business needs and worries.

Tax agents provide IRAS with an invaluable avenue of feedback as it develops and improves its tax rules and procedures. There are prospects for tighter interaction and collaboration, notably in the area of training and strengthening the competence of a tax agent, given that IRAS and a tax agent have the same purpose of guaranteeing a firm’s tax compliance and supporting company growth.

What is the difference between a tax agent and an accountant?

The tax agent deals with history.

They have frequently referred clients because of their expertise in tax law. They strive to make sure that your income returns adhere to IRAS criteria. That is, through your prior results.

Accountants do future planning.

Your financial and business strategist is your accountant. Their responsibility is to work with you to maximize your return and minimize your tax liability.

Accountants will study historical data but use it to advance your company’s finances. They suggest software that automatically creates reports about targets, earnings, and losses. They will assist you in repairing any financial leaks in your company.

Their backgrounds are diverse.

A college degree, preferably a master’s, is required for an accountant, who must also pursue ongoing training throughout their professional lives. 

A tax agent, on the other hand, does not need a university degree for their work but must have finished courses or training on income tax, GST, and international tax. If they gained the required years of experience and other qualifications, they are applicable for accreditation by Singapore Chartered Tax Professionals.

What are the responsibilities of a tax agent?

Filing of Corporate Income Tax at Athel

Whether they are residents or not, companies conducting business in Singapore are subject to tax on their foreign and Singapore-sourced revenue when they are repatriated or presumed remitted to Singapore. For proper tax computations, a complete understanding of tax legislation is essential. Our range of services may consist of:

  • Income tax or non-taxable review
  • Examining deductible and non-deductible costs
  • Claiming deductions like capital allowances
  • Tax computation preparation using computerized tax software
  • Tax returns, such as Form C/CS/CS Lite, are submitted.

Filing Personal Income Taxes at Athel

The personal income tax rates in Singapore are graduated for taxpayers who are residents. As a result, higher earnings are required to pay more. To ensure accuracy, a thorough understanding of tax regulations is essential. Our range of services may consist of:

  • Review of taxable or non-taxable income
  • Review of deductible or non-deductible expenses
  • Claiming personal tax relief
  • Preparation of tax computations in computerized tax software
  • Submission of tax returns (Form B1).

Filing GST at Athel

Businesses in Singapore must register for the Goods and Services Tax if their annual revenue exceeds $1 million (Abbreviation: GST). Our range of services may consist of:

  • Examining input tax claims
  • Advice on GST treatment of day-to-day business transactions
  • Conduct GST due diligence audits
  • When necessary, assist IRAS in tax audits and tax investigation processes
  • Submission of tax returns such as GST Form 5.


A Tax agent is a professional who deals with a client’s tax-related concerns, whether personal, corporate income tax, or GST filing. A tax agent is entirely different from an accountant as he will guide you when necessary and is primarily concerned with your compliance with tax legislation. Additionally, he will file your statements and assure you on your behalf to the tax commissioner. On the other side, your strategist is an accountant. His expertise enables you to pay less tax. To achieve your goals, they strategize and keep an eye on your financial success.