Smart Mid-Year Tax Moves for Singapore Businesses

05 June 2025

Editor: ET

Working with a professional firm like Expede ensures your tax planning is compliant, strategic, and aligned with your broader business goals.

For many Singapore-based businesses, the mid-year mark isn’t just a time to review KPIs—it’s a strategic window for effective tax planning. Staying proactive with your corporate tax obligations not only safeguards compliance but also unlocks cost-saving opportunities.

At Expede.com.sg, we’ve worked with countless SMEs and corporates to help them navigate tax complexities with clarity and control.

Further Reading: Mastering Corporate Income Tax Filing Obligations in Singapore: What Every Business Must Know

Why Mid-Year Tax Planning Matters

Many business owners in Singapore wait until the financial year-end to start thinking about taxes. But by then, most planning opportunities are gone. Mid-year is the perfect checkpoint to assess financial health and implement strategies that reduce your tax burden—legally and efficiently.

Key Mid-Year Tax Planning Strategies

1. Review Your Estimated Chargeable Income (ECI)

All companies in Singapore must file an ECI within 3 months from the end of their financial year unless exempted. Mid-year is a good time to project this figure. If your profits are lower than expected, you may revise your estimates and manage your tax obligations more accurately.

2. Maximise Available Tax Deductions

Expenses such as R&D costs, CPF contributions, renovation deductions, and even digitalisation efforts may be tax-deductible. Conduct a review of your business expenses now to ensure you’re claiming everything you’re entitled to.

3. Consider Capital Allowances and PIC Claims

Investing in equipment or tech upgrades mid-year can help reduce taxable income through capital allowances. Although the PIC scheme has ended, other tax incentives remain relevant—such as the Automation Support Package and Enterprise Innovation Scheme.

4. Reassess Cash Flow and Set Aside for Taxes

Tax payments can strain liquidity if unplanned. Mid-year planning allows you to forecast cash flow needs, set aside tax reserves, or even apply for GIRO instalment plans with IRAS to ease payment.

5. Consult a Tax Professional

Working with a professional firm like Expede ensures your tax planning is compliant, strategic, and aligned with your broader business goals. We assist with forecasting, compliance, and IRAS correspondence, freeing you to focus on growth.

Further Reading: Understanding General Corporate Income Tax Rules in Singapore: A Guide for Businesses

Stay Compliant, Stay Confident

At Expede, we believe tax planning should not be a once-a-year panic. With Singapore’s robust tax framework and proactive mid-year planning, businesses can avoid costly errors, unlock benefits, and maintain peace of mind.