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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 […]
Last June 5, 2021, The Group of Seven (G7), a collection of representatives from the world’s wealthiest nations–gathered to discuss the global corporate tax rate reform. The aim of this historic tax agreement was to create equal opportunities for all businesses, preventing multinational corporations and digital technology companies from abusing low-tax jurisdictions. From the original […]
Businesses in Singapore will soon ease their cash flow following a series of tax-related support measures as announced in the Resilience Budget on 26 March 2020 and Solidarity Budget on 6 April 2020. From extended filing deadlines to tax rebates, here are the new tax measures with the greatest impact on your business. Extended Filing […]
