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 and Services…
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…
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…
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…
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…
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. Foreign investors from Latvia can find that…
Companies in Singapore must comply with various requirements. Among these, they must file several documents in a specific format with the Inland Revenue Authority. Below, you can read about the XBRL filing requirements in Singapore. If you need accounting services in Singapore, our specialists are at your disposal with tailored…
The Intellectual Property Development Incentive regime was established in order to encourage investors to explore research and development activities. The regime is based on a concessionary tax rate, a percentage of the intellectual property (IP) income that will be taxed at a preferential rate. The law is still in this…
The Draft Bill 2018 to the Income Tax Bill contains several amendments that are non-Budget that can be of interest to companies. most of these refer to corporate income and, in regards to the Amendment Bill, the Ministry of Finance even conducted a recent public consultation session. Our team of…
Singapore and Brazil have signed an agreement for the avoidance of double taxation (DTA). The treaty will allow for double taxation relief for foreign investors, in an effort to streamline bilateral trade and at the same time encourage investment cooperation. Singapore has signed more than eighty such deals and our…
