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Articles

Accounting for Consulting Companies in Singapore

Accounting for Consulting Companies in Singapore

One of the main reasons many foreign investors come to Singapore is that they can set up businesses in numerous industries. Among these, there is also the consulting sector which in the city-state is far more developed compared to other countries around the world. This happens because Singapore is an…
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Accounting for Restaurants and Bars in Singapore

Accounting for Restaurants and Bars in Singapore

The food and beverages industry in Singapore has registered substantial increases in the past few years, as it covers not only the needs of the city-state’s population, but it is also an integrating part of the tourism sector. There are numerous bars and restaurants that operate in Singapore, as thanks…
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Accounting for Hotels in Singapore

Accounting for Hotels in Singapore

Tourism is one of the most prolific industries in Singapore. The city-state offers spectacular views, excellent services and stellar accommodation conditions which have helped this sector thrive and made foreign investors come here and open hotels. Running a hotel business is quite difficult to consider there are many aspects to…
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Accounting for Shipping Companies in Singapore

Accounting for Shipping Companies in Singapore

Singapore is one of the most important trading hubs in Southeast Asia, with thousands of ships entering and leaving its port every year. This is one of the main reasons to set up a shipping company in the city-state. Apart from this, shipping companies also benefit from special tax regulations…
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GST Registration Singapore

  The Goods and Services Tax is a consumption tax levied on imported goods and on most of the goods and services supplied in Singapore. It is the equivalent of the value-added tax.   Foreign businessmen who have opened a company in Singapore should know that they are liable for Goods…
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Taxation of Investment Funds in Singapore

Taxation of Investment Funds in Singapore

Singapore is an attractive location for basing funds in the Asia Pacific Region as well as for fund managers. The ease of doing business in the city-state, along with the favorable taxation of investment funds in Singapore are among the top reasons why the fund management industry has been developing…
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Taxation of General Partnerships in Singapore

Taxation of General Partnerships in Singapore

A partnership in Singapore is an association between two or more partners who can be individuals of companies. The general partnership is not perceived as a legal entity, such as a private limited liability company or even a private limited liability partnership. This is an important distinction because it determines…
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Main Taxation Regulations in Singapore

Main Taxation Regulations in Singapore

Singapore has a low taxation regime that is advantageous for businesses and it is one of the main reasons why the city-state is considered one of the most attractive locations to do business in Asia. The Income Tax Act is the main legislative source for the manner in which taxes…
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Taxation of a Holding Company in Singapore

Taxation of a Holding Company in Singapore

A type of vehicle used for owning shares in other corporations, a holding company’s scope is to own stock in a subsidiary, for the purpose of reducing the investment risks should the said subsidiary become bankrupt. The taxation of a holding company in Singapore is particularly advantageous as this is…
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Singapore – Latvia DTA Amendment Entered into Force

Singapore – Latvia DTA Amendment Entered into Force

The Second Protocol to the Singapore-Latvia double taxation agreement entered into force in August. The changes included in this second protocol target a reduced withholding tax rate as well as other beneficial provisions and aim to encourage economic cooperation between the two countries. Table of ContentsChanges in the taxation principles…
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