OUR SERVICES
CORPORATE ADVISORY
Market Entry & Expansion Advisory
In this growing digital economy age, markets are getting closer through the development of e-commerce and online marketplaces. Companies will need to quickly engage themselves in this increasingly connected market and increase their capabilities on a global and regional level.
LE YU, through our regional network of market entry partners and Global Catalyst Platform, can assist you in:
- Formulating your regional Market Entry Strategies & Solutions
- Work with you to identify the key markets of your products and services
- Seek applicable Grant support for your Market Research and Market entry requirements
- Structuring your business entities to support your market entry and expansion objectives
Tax Advisory
Tax Structure & Planning
One of the biggest consideration of doing cross borders business is tax. It can be a large compliance burden and expense item if not being manage effectively. This burden can be overwhelming as there is an increasing trend in audits and administrative requirements across the governments around the world. We work with tax specialists within our regional & global networks to assist our client in the international expansion. We assist them to manage their direct tax and indirect tax (GST, VAT, IPT, Sales Tax etc.) exposures and decide on an appropriate tax structure. We will assist specifically in:
- Corporate tax planning in line with relevant business models
- Transfer pricing advisory
- Tax due-diligence
- Tax advisory retainer service
- Specific tax issue solutions
- Overseas tax and remittance transactions
- Application of tax preferential policy
- Corporate tax health check
China Tax Services
China Corporate Tax Services
- China inbound investment tax planning and structuring
- Optimization of China tax position and holding company tax position
- Utilize various tax incentives & subsidies offered by central & local governments
- Treatment of cross-border or inter-company transactions
- Transfer pricing arrangements
- Management of tax compliance requirements at local and state tax levels
- Repatriation of income
- Special & unique tax problems and issues
- Corporate tax compliances & submissions (Income Tax, VAT etc.)
China Individual Tax Services
China constant development and changes to tax policies, including personal tax regulations meant that individuals (both foreign nationals and Chinese nationals) will require good professional help to ensure self-compliant to China laws. Post 2008, the new Income Tax Law in China has weighed the individual tax compliance requirements to the individual. He/She is required to file yearly return if his/her yearly income is equal to or more than RMB 120,000. We will assist you by providing:
- Individual income tax planning
- Individual income tax equalization program
- Annual individual income tax submissions
- Monthly individual income tax submissions
- Individual income tax review & back filling
- Special individual tax issues
Our individual tax services are provided to both Chinese nationals as well as foreign expatriates. We partner with China 5A Qualification Statues Certified Tax Accounting Firm. Our tax services network extends to 15 provinces across China.
Singapore Tax Services
Singapore Corporate Tax Services
Singapore has adopted a single-tier corporate income tax system since 2003. There will not be any double-taxation for stakeholders. Company will only need to pay tax on its chargeable income as the final tax and all dividends paid will be exempted from further taxation. Singapore income tax is a flat rate of 17%, and the effective tax rate is usually lower due to applicable tax exemptions and tax incentives etc. Our Singapore tax services include:
- Claiming of tax incentives (Productivity and Innovation Credit scheme, etc.)
- Industries specific tax incentives eg. Global Trading Programme Application
- Singapore tax exemption relief
- Foreign tax relief
- Avoidance of Double Taxation Agreement (DTAs)
- Annual corporate tax submission
- GST filing and submission
- Singapore & overseas investments tax planning and structuring
- Repatriation of income planning
Singapore Corporate Tax Filing
All companies registered in Singapore must file their corporate tax returns to the Inland Revenue Authority of Singapore (IRAS). We can help you file your annual corporate tax returns in a timely manner. Our corporate annual tax return service will cover corporate tax computation, preparation and filing of estimated chargeable income (ECI) and filing of income tax return (Form C).
Singapore Goods and Services Tax – GST
Goods and Service Tax (GST), similar to the Value Added Tax (VAT) in many countries, is a consumption tax on most domestic goods and services. Singapore’s GST is currently at 7%. We will assist client in GST registration with IRAS, and provide monthly, quarterly and yearly GST filling services.
Singapore has one of the lowest individual income tax in the world. Individual tax residents in Singapore are required to pay income tax if the annual income is more than SGD$22,000. You are considered a Singapore tax resident if you are a Singaporean; a Singapore Permanent Resident and have established your permanent home in Singapore; or a foreigner who has stayed or worked in Singapore for more than 183 days in a tax year.
Our individual income tax services include:
- Computing chargeable personal income
- Preparation of appropriate paper tax form and relevant documents
- Advice on tax treatment of income earned overseas
- Advice on tax treatment of employer benefits
- Tax planning for overseas expatriates working in Singapore
Tax Structure & Planning
One of the biggest consideration of doing cross borders business is tax. It can be a large compliance burden and expense item if not being manage effectively. This burden can be overwhelming as there is an increasing trend in audits and administrative requirements across the governments around the world. We work with tax specialists within our regional & global networks to assist our clients in the international expansion. We assist them to manage their direct tax and indirect tax (GST, VAT, IPT, Sales Tax etc.) exposures and decide on an appropriate tax structure. We will assist specifically in:
- Corporate tax planning in line with relevant business models
- Transfer pricing advisory
- Tax due-diligence
- Tax advisory retainer service
- Specific tax issue solutions
- Overseas tax and remittance transactions
- Application of tax preferential policy
- Corporate tax health check
Tax Structure & Planning
One of the biggest consideration of doing cross borders business is tax. It can be a large compliance burden and expense item if not being manage effectively. This burden can be overwhelming as there is an increasing trend in audits and administrative requirements across the governments around the world. We work with tax specialists within our regional & global networks to assist our clients in the international expansion. We assist them to manage their direct tax and indirect tax (GST, VAT, IPT, Sales Tax etc.) exposures and decide on an appropriate tax structure. We will assist specifically in:
- Corporate tax planning in line with relevant business models
- Transfer pricing advisory
- Tax due-diligence
- Tax advisory retainer service
- Specific tax issue solutions
- Overseas tax and remittance transactions
- Application of tax preferential policy
- Corporate tax health check
Management Accounting Advisory
We believe that accounting functions of any company should go beyond just compliance and financial statements. The management should have real time access of the financials of the company to make informed management decisions.
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Our Management Accounting Advisory service assists companies to align their management objectives by using smart accounting software like XERO and integrated XERO Apps.
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As a XERO Partner and Advisor, we are able to use XERO and its integrated apps to advise, train, and implement an Integrated Operation & Financial Management Framework for your company for your Management Accounting requirements.
Risk Management Advisory
It is increasingly challenging to run a business effectively in today’s environment. Business get exposed to a wide range of risks when they expand and globalize. Challenges like dealing with people of different business cultures and backgrounds, different rules and regulations of governments and an ever increasingly competitive market. We believe in preventing and detecting any potential risk before it happens. Our team of professionals will work with you to evaluate the probability of risks occurring and the impact that they may have on your business. We assist clients to develop effective risk management systems (RMS). Our risk management includes:
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- Corporate governance advisory
- Internal audit
- Business risk management advisory
- Fraud risk management advisory
- Design of internal control system & implementation
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- US SOX readiness consulting and compliance
- China SOX readiness consulting and compliance
- SSAE16 assessment / internal control review
- PRC Statutory audit support services IFRS / US GAAP / International audit support services
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The internal control system is an important part of the entire risk management system of the company. Effective internal controls ensure daily operation practices and procedures comply with the company’s policies. They allow company to identify and avoid risks effectively.
The proper functioning of an internal control system is critical to producing quality products and services that are consistent with the business’ mission. Internal controls should be reviewed periodically due to changes in technology, business environment and rules and regulations.
We assist clients to review the various processes, procedures and internal controls to check if they are in operation effectively. We recommend actions that companies should adopt to improve their internal control system.
Companies, largely public companies and certain SMEs, would usually engage one or more independent or non-executive director (ID) within their structure to strengthen the board of directors as well as mitigate conflict of interest within the company.
The ID can provide views that help in the entire decision making and quality of the decision. He or she would usually serve in the various committees within the board eg. Audit committee, remuneration committee etc. Through these efforts, the company and its board can tap into experiences and resources of the ID and enhance the overall risk management systems. The laws relating to public companies in many countries will also entail the engagement of independent directors.
The key personnel of our firm have numerous years of experience in different markets and industries. Our expertise, usually, within the financial and accounting domain, makes us good candidates for independent director and audit committee member. Many of us would also have branched from financial and accounting backgrounds into other industry domains. These have enriched various clients’ boards when we serve them as IDs.
Under the China’s Company Law Article 52 and Article 53, foreign companies’ subsidiaries (WFOEs/JVs) should appoint a board of supervisor or a supervisor to check the financial affairs of the company and supervise the compliance of the board of directors.
Like the independent director of the company, the supervisor brings to the board, his experience and expertise in dealing with tax, accounting and financial matters of the company. He can supervise and advise the board so that the company complies with the China rules and regulations.
Our key personnel has many years of experience in the appointment as supervisor of various WFOEs/JVs of foreign companies. We assist our clients to fulfil the legal obligation and supervise their local board of directors in the course of this.
Internal audit function has become critical and important as the world becomes more globalized. Companies need to ensure effective capabilities to guard against risks exposures of various forms. This is more so as business cycles fluctuate very uncertainly and crises are frequent.
Internal audit has become an essential function to all listed and non-listed companies. It is a very key component of good corporate governance and enterprise risk management.
We assist our clients in:
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- Outsourcing the internal audit function
- Understand client’s enterprise risk management system and internal control system
- Develop periodic internal audit plan and programme to fulfil internal audit and risk management requirements
- Report to internal audit committee
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- Provide recommendations to management in areas where improvements are needed
- Work with external auditors to increase the efficiency and effectiveness of the both internal and external audit
- Provide training on matters regarding internal controls, corporate governance, and risk management
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