May 6, 2021

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…

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Tax Dept

April 29, 2021

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…

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Tax Dept

October 14, 2020

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…

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Wan Wei Han

July 29, 2020

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…

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Tax Dept

July 29, 2020

The Singapore Enhanced Carry-Back Relief System

With the recent opening of Corporate Tax Season this year, it is in the best interest of Singapore companies and businesses to learn more about tax reliefs, schemes and incentives offered by the Inland Revenue Authority of Singapore (IRAS) to maximize their tax savings.  Singapore has maintained a high Global Business Complexity Ranking and remains…

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Tax Dept