Key Requirements for a Company Audit in Singapore
What is a Statutory Audit? As a fast-growing economic hub in the Southeast Asian region, the demand for professional audit and accounting services in Singapore continues to rise. To comply with the country’s statutory laws, Singapore companies must regularly submit their financial statements to a qualified auditor or registered public accountant for annual company audits…
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Paul Wan & Co
Singapore Corporate Income Tax Rebates
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 the final tax bill amount…
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Tax Dept
Corporate Income Tax Exemption schemes in Singapore
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 any tax liability burden for…
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Tax Dept
Using the GST F7 Form to Correct GST Filing Errors
Goods and Services Tax (GST) is an indirect tax collected by the Inland Revenue Authority of Singapore (IRAS) and it is applied to most goods and services sold to consumers and businesses within the country. GST must be reported and paid by companies every three months and this quarterly GST submission is usually prepared by…
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Tax Dept
Tax Guide: Claiming Double Tax Relief in Singapore
Double Taxation occurs when a foreign income earned by a Singapore company is being taxed two times, once in the foreign jurisdiction and twice in Singapore. Double Tax Reliefs are a form of foreign tax credit that can be claimed by tax residents under the Avoidance of Double Taxation Agreement (DTA). It is mainly applicable…
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