Singapore Budget 2021 – Individuals and Households
NAVIGATION Individual Income Tax Rate GST Voucher (GSTV) – Cash Special Payment GST Voucher (GSTV) – U-Save Special Payment Service and Conservancy Charges Rebate (S&CC Rebate) Top-Ups to Child Development Account, EDUSAVE Account, and Postsecondary Education Account Community Development Council Vouchers Scheme) Reduction in S Pass Sub-Dependency Ratio Ceiling (DRC) Foreign Worker Levy (FWL) Rates…
Read more
POSTED BY
Tax Dept
Singapore Budget 2021 – Goods and Services Tax (GST)
NAVIGATION GST Rate Imposition of GST on Imported Low-Value Goods Change of Basis for Determining Zero-Rating Supply of Media Sales 1. GST RATE Currently, the GST rate remained at 7%. GST rate is planned to increase from 7% to 9% between year 2022 and 2025, and it will take place “sooner rather than later” depending…
Read more POSTED BY
Tax Dept
Singapore Budget 2021 – Corporate and Business
NAVIGATION Corporate Income Tax (CIT) Rate Extension and Enhancement of the Carry-Back Relief Scheme Extension of Option to Accelerate Eligible Claim on Cost of Plant and Machinery (P&M) Withdrawal of Accelerated Depreciation Allowances for Highly Efficient Pollution Control Equipment (ADA PCE) Scheme Extension of Option to Accelerate Eligible Deduction on Renovation and Refurbishment (R&R) Expenses…
Read more POSTED BY
Tax Dept
Morison Global’s new Chair and Vice Chair
We would like to congratulate our managing partner, Mr. Paul Wan, to be elected to the position of chairmen of Morison KSi (Now known as Morison Global), our global network of 160 accounting firms in 85 different territories. Paul Wan has been elected Chair, and Mark Baran Vice-Chair, of the Morison KSi Limited Board of…
Read more
POSTED BY
Wan Wei Han
Quick Guide: Singapore Corporate Capital Gains Tax
Singapore Corporate Tax season 2020 is now underway and companies are required to e-file their Corporate Income Tax Returns for YA2020 before 15 December 2020. All Singapore Companies are required to file annual income tax returns online to the Inland Revenue Authority of Singapore (IRAS) and pay income tax at the prevailing Singapore corporate tax…
Read more POSTED BY
