Fortitude Budget 2020 (4th Round of Financial Support)
On 26 May 2020, the Singapore Deputy Prime Minister and Minister for Finance, Heng Swee Keat has unveiled in Parliament, a S$33 billion 4th round of financial support (landmark package) to tide through the COVID-19 crisis as most businesses are expected only to be able to resume their operations in July 2020. Together with the…
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Tax Dept
Quick Guide: Singapore Budget 2020 Corporate Income Tax Rebate
The COVID-19 crisis has adversely impacted the global economy and Singapore companies and businesses were also negatively impacted by the various circuit breaker measures implemented. The Singapore government has since announced various support schemes in the income tax rebate and reliefs area for YA2020. The schemes were first announced in the annual 2020 Budget speech,…
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How to Pay Income Tax in Singapore for Nationals and Foreigners
Many local accountants are frequently questioned about the process of paying income tax in Singapore. By law, all individuals who receive income from their activities in Singapore must file and pay their taxes to the Inland Revenue Authority of Singapore (IRAS), unless they qualify for an exemption. The following two situations may exempt someone from…
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Tax Dept
Quick Guide: Singapore Budget 2020 Personal Tax Relief Measures
COVID-19 has adversely impacted the global economy just as Singapore companies and businesses suffered negative by the various circuit breaker measures implemented. This has also mainly affected the livelihoods of many Singaporeans as many faced the prospect of retrenchment and lower-income. The Singapore government has since announced various support schemes for individuals and households. The…
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Tax Dept
COVID-19 IRAS Property Tax Support Measures
IRAS property tax bills in Singapore are traditionally sent by the Inland Revenue Authority of Singapore (IRAS) on December 31 each year, while property owners can also use the IRAS property tax calculator to estimate their 2020 property tax payment. This property tax bill reflects the amount to be paid for each property based on…
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