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Singapore Corporate Income Tax Rebates

By |2020-02-18T18:19:58+08:00February 18th, 2020|Guides, IRAS Income Tax|

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 [...]

Corporate Income Tax Exemption schemes in Singapore

By |2020-02-18T18:19:23+08:00February 18th, 2020|Guides, IRAS Income Tax|

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 [...]

Using the GST F7 Form to Correct GST Filing Errors 

By |2020-02-09T14:53:37+08:00February 4th, 2020|Guides, IRAS GST|

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 [...]

Tax Guide: Claiming Double Tax Relief in Singapore

By |2020-02-10T17:05:29+08:00January 31st, 2020|Foreign Tax Credit, Guides|

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 [...]

Tax Review: Singapore Budget 2018 and 2019 GST Policy Changes

By |2020-02-10T17:05:49+08:00January 31st, 2020|Guides, IRAS GST|

On the 20th of February 2018, Finance Minister, Mr Heng Swee Keat announced in his Singapore budget 2018 speech that the country’s GST rate will be increased from 7% to 9% starting from 2021 onwards. On the GST front, digital services such as Netflix subscriptions as well as apps [...]

Understanding the Singapore Income Tax Notice of Assessment (NOA)

By |2020-02-12T16:10:05+08:00January 24th, 2020|Guides, IRAS Income Tax|

By Singaporean legislation, individuals (employees or sole proprietors) and companies are required to file annual income tax returns to the Inland Revenue Authority of Singapore (IRAS). To ensure compliance with Singapore’s tax laws, it’s important for taxpayers to be familiar with the forms and documents included in the tax settlement [...]

Tax Guide: Personal Income Tax Reliefs in Singapore

By |2020-02-12T16:10:19+08:00January 24th, 2020|Guides, IRAS Tax Relief|

As we usher in the new year in 2020, the tax season is approaching once again. The deadline for YA2019 income tax filing for companies recently elapsed last December 19, 2019. On the other hand, individual taxpayers are required to submit their income tax filing by April 2020 for [...]

Blockchain Applications and Tokenization

By |2020-02-12T16:10:45+08:00January 23rd, 2020|Blockchain, Featured, Insights|

Asset-tokenization is the one-to-one mapping between physical assets or digital assets and the digital certificates generated by blockchain. Examples of assets include commercial buildings, hotels, houses, stocks and financial securities, digital collectables, intellectual property and works of art and this list is by no means exhaustive. If you are a [...]

Blockchain Technology and Real Estate

By |2020-02-12T16:11:44+08:00January 23rd, 2020|Blockchain, Insights|

“Blockchain” is most frequently heard these days within the “FinTech” and “PropTech” environments along with terms such as “Distributed Ledger Technology”, “Smart Contracts”, “Tokens”, “Wallets” plus language to describe the myriad types of Ledgers found within the Blockchain environment.  As can be expected with any new technology, industry-specific nomenclature has [...]

Blockchain Implications on the Shared Ownership of Real Estate

By |2020-02-12T16:11:54+08:00January 23rd, 2020|Blockchain, Insights|

The foundations of the Sharing Economy The term 'Sharing Economy' has grown to become an umbrella term for a wide range of non-ownership forms of consumption activities such as swapping, trading, renting and exchanging.  The Sharing Economy is typically defined by two key elements. Firstly, an online platform which connects [...]