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Singapore Budget 2020 – Corporate and Businesses

By |2021-04-22T15:39:28+08:00February 21st, 2020|Corporate Income Tax, Insights|

NAVIGATION Corporate Income Tax (CIT) Rate Corporate Income Tax (CIT) Rebate Property Tax (PT) Rebate Automatic Extension Of Interest-Free Instalments For Payment Of Estimated Tax Payable Enhancement Of Carry-Back Relief Scheme Option To Accelerate Eligible Claim On Cost Of Plant And Machinery (P&M) Option To Accelerate Eligible Deduction [...]

Singapore Budget 2019 – Others

By |2019-02-25T00:05:34+08:00February 25th, 2019|Insights, Taxation|

NAVIGATION Reduction Of Greenhouse Gas Emissions Restructuring Diesel Taxes Road Tax Rebates And Grants For Commercial Diesel Vehicles Tightening Of Duty-Free Allowance For Liquor Products 1 - REDUCTION OF GREENHOUSE GAS EMISSIONS Carbon Tax As announced in last year’s budget, the [...]

Singapore Budget 2019 – Individuals and Households

By |2019-02-24T23:40:22+08:00February 24th, 2019|Insights, Personal Taxation|

NAVIGATION Individual Income Tax Rate Personal Income Tax Rebate Grandparent Caregiver Relief Not Ordinarily Resident (NOR) Scheme CPF Top-Up Five-year MediSave Top-Up Edusave Accounts And Post-Secondary Education Accounts Top-Up Workfare Income Supplement (WIS) Commemorating Our Bicentennial Merdeka Generation Package (MGP) ComCare Long-Term Assistance And Singapore Allowance CareShield Life [...]

Singapore Budget 2019 – Goods and Service Tax (GST)

By |2019-02-24T22:20:06+08:00February 24th, 2019|Goods and Services Tax (GST), Insights|

NAVIGATION  GST Rate Tightening Of GST Import Relief For Travellers GST Remission For S-REITs And Singapore-Listed Registered Business Trusts (RBTs) Recovery Of GST For Qualifying Funds 1 - GST RATE The current GST rate is 7%. As announced by the Minister [...]

Singapore Budget 2019 – Corporate and Businesses

By |2019-02-24T21:02:53+08:00February 24th, 2019|Corporate Income Tax, Insights|

NAVIGATION Corporate Income Tax Rate Writing Down Allowance (WDA) For Acquisition Of Qualifying Intellectual Property Rights (IPRs) Investment Allowance (IA) Income Tax Concessions For Singapore-Listed Real Estate Investment Trusts (S-REITs) Tax Concessions For Singapore-Listed Real Estate Investment Trusts Exchange-Traded Funds (REITs-ETFs) Tax Incentive Schemes For Funds Managed By [...]

SG Transfer Pricing requirement: Related Party Transactions

By |2018-12-21T10:58:42+08:00December 21st, 2018|Corporate Income Tax, Insights|

On 12 January 2017, IRAS released its 4th edition of the Singapore transfer pricing guidelines relating to business entities incorporated or registered in Singapore or carrying on a business in Singapore that have transactions with related parties. Related Party Loans A related party loan arises when there is money lent [...]

Review your corporate tax position to avoid tax burden

By |2018-12-14T10:46:27+08:00December 14th, 2018|Corporate Income Tax, Insights|

Last Updated 24 Feb 2019 Corporate tax is unavoidable in Singapore. However, with proper tax planning, it is possible for businesses to pay less tax/defer its tax payments. Hence, businesses will minimize their tax and maximize returns for stakeholders and as such, more resources will be available for reinvestment. Under-declaration [...]

Tax Deductability OF “Keyman” Insurance Premiums

By |2018-12-07T10:41:04+08:00December 7th, 2018|Corporate Income Tax, Insights|

Generally, premiums incurred by a company in taking up an insurance policy on the life of a key personnel of the company (commonly referred to as “keyman” insurance) against loss of profits arising from the demise of the insured, the premiums are tax deductible. The following are the requirements that [...]

GST – Transfer of Business as Going Concern

By |2018-11-01T10:13:39+08:00November 1st, 2018|Goods and Services Tax (GST), Insights|

In accordance with the GST Act, any supply of goods or services made by a taxable person in the course or furtherance of his business is chargeable to GST. Where a taxable person transfers or disposes of his business assets, whether or not for a consideration, is making a supply [...]

Best practices for engaging tax agents

By |2018-10-25T10:48:11+08:00October 25th, 2018|Insights, Taxation|

Last Updated: 24 Feb 2019 Tax compliance is part and parcel of every business in almost all countries. Without proper tax compliance, businesses will run into trouble with tax authorities. Fines, penalties, freezing bank accounts, summons, court’s attendances, imprisonment, not allowing errant taxpayers leaving the country are some of the [...]