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In recent years, many countries have begun to take action on climate change. In the process, carbon taxes and other related measures have gained traction to discourage businesses from investing in activities that produce significant greenhouse gas emissions. Intending to encourage businesses to adopt climate-friendly practices while raising funds for green initiatives, Singapore introduced the […]
Finance Minister Lawrence Wong announced that non-fungible tokens (NFT) trading would be taxed under existing income tax standards. Notably, the city-state has no capital gains tax framework. Hence, a tax haven for capital gains in stocks and crypto assets. Singapore’s Income Taxes The absence of capital gains taxes from Singapore’s tax framework has made the […]
Last February 18, 2022, a S$109 billion budget was passed by the government to contain income, consumption, and wealth taxation. With the financial impact of COVID-19 still fresh in everyone’s minds, the government is working hard to improve its tax system. Key Tax Changes That Will Affect Companies Here are some of the new measures […]
The Singaporean government is actively supporting businesses nationwide. They’ve implemented numerous initiatives to provide financial and social support to various companies throughout the years. Among their countless initiatives, the government has offered tax incentives for foreign investors to conduct business in the country with an added advantage. The incentives may vary depending on the industry […]
Due to the country’s low taxes and multiple incentive programmes, Singapore has become a tax haven for many entrepreneurs and investors worldwide. Take a look at some of the most beneficial tax policies foreigners can enjoy when they set up their company in this modern city-state. Progressive Tax Rates In Singapore, residents benefit from progressive […]
If you are interested in setting up a Variable Capital Company (VCC), or wish to help your clients understand how the VCC works, here is a quick guide to its tax implications, especially in the areas of income tax, GST treatment and Stamp Duty treatment. Setting up a VCC in Singapore would enable you to […]
