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Quick Guide: Income Tax for Foreigners and Returning Singaporeans

By |2020-05-29T13:55:00+08:00May 29th, 2020|Guides, IRAS Income Tax|

By law, individuals are required to file income tax returns and pay their annual income taxes to the Inland Revenue Authority of Singapore (IRAS). This applies to a majority of full-time employees in the country including Singaporean citizens, Permanent Residents (PRs) and foreigners deriving income in Singapore.  This year, the [...]

Quick Guide: IRAS Auto-Inclusion Scheme (AIS) for Employers

By |2020-05-29T13:55:07+08:00May 29th, 2020|Guides, IRAS Income Tax|

The Auto Inclusion Scheme (AIS) is a tax scheme geared towards Singapore employers and administered by the Internal Revenue Authority of Singapore (IRAS). It allows employers to submit the income tax information of their employees electronically. The purpose of this scheme is to facilitate the calculation of income taxes for [...]

How to Open a Company in Singapore in 2020

By |2020-03-26T22:10:58+08:00March 26th, 2020|Guides, IRAS Income Tax|

Registering a company in Singapore is not a complex procedure. In fact, Singapore is ranked 2nd in the list of countries that offer the best environment for businesses according to the 2020 “Doing Business” report issued by the World Bank Group.  According to this report, there are only two procedures [...]

Tax Guide: Personal Income Tax Filing in Singapore

By |2020-03-26T21:48:39+08:00March 26th, 2020|Guides, IRAS Income Tax|

Individual taxes in Singapore are defined and collected by the Inland Revenue Authority of Singapore (IRAS). This institution has established different tax brackets and conditions for residents and non-residents working in Singapore. This guide for locals and foreigners will outline the process for annual personal income tax filing in [...]

Singapore Corporate Income Tax Rebates

By |2020-02-18T18:45:37+08:00February 18th, 2020|Guides, IRAS Income Tax|

All Singapore companies are required to file annual income tax returns to the Inland Revenue Authority of Singapore (IRAS) and pay income tax at the prevailing Singapore corporate tax rate charged on chargeable income. A one-off corporate tax rebate may be granted for each Year of Assessment (YA) to reduce [...]

Corporate Income Tax Exemption schemes in Singapore

By |2020-02-18T18:19:23+08:00February 18th, 2020|Guides, IRAS Income Tax|

By Singaporean law, all companies in Singapore are required to file annual income tax returns to the Inland Revenue Authority of Singapore (IRAS) and pay income tax at the prevailing corporate tax rate applied to chargeable income.  IRAS has put in place tax exemption schemes that are designed to reduce [...]

Understanding the Singapore Income Tax Notice of Assessment (NOA)

By |2020-01-24T20:33:14+08:00January 24th, 2020|Guides, IRAS Income Tax|

By Singaporean legislation, individuals (employees or sole proprietors) and companies are required to file annual income tax returns to the Inland Revenue Authority of Singapore (IRAS). To ensure compliance with Singapore’s tax laws, it’s important for taxpayers to be familiar with the forms and documents included in the tax settlement [...]