XBRL Filing in Singapore

XBRL Filing in Singapore

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. Table of ContentsWhat is XBRL?What are the conditions for observing the XBRL format in Singapore?What…
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The Intellectual Property Development Incentive in Singapore

The Intellectual Property Development Incentive in Singapore

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…
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Non-Budget Updates in 2018 of Interest for Companies

Non-Budget Updates in 2018 of Interest for Companies

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. Table of ContentsIntellectual…
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Singapore – Brazil Double Taxation Agreement

Singapore – Brazil Double Taxation Agreement

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. Table of ContentsThe provisions of the Brazil – Singapore DTASingapore…
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Singapore – Thailand Double Taxation Agreement

Singapore – Thailand Double Taxation Agreement

Singapore and Thailand have a double taxation agreement in place which allows investors to benefit from double tax relief in the situation in which they derive income from both jurisdictions. The Agreement for the avoidance of double taxation and the prevention of fiscal evasion establishes the taxation rights of each…
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Corporate Governance in Singapore

Corporate Governance in Singapore

The Code of Corporate Governance issued by the Monetary Authority of Singapore and includes the basic guidelines and recommendations for listed companies. The conduct set forth in the Code is not mandatory, however, listed companies are required to disclose their specific corporate governance practices on an annual basis. Table of…
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Apply for a COR in Singapore

Apply for a COR in Singapore

The Certificate of Residence (COR) is a document issued to a company in Singapore in order to prove that the respective legal entity is a tax resident. Table of ContentsWhat companies can apply for COR?How to apply for COR? Entrepreneurs need to apply for a COR in Singapore in order…
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A Guide on Dividends in Singapore

A Guide on Dividends in Singapore

Shareholders have access to the profits of a Singapore company in the form of dividends. These may be paid in cash or in kind and their taxation is regulated by the Inland Revenue Authority. Our accountants in Singapore have prepared a guide on dividends in Singapore so that you can…
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Avoid Tax Penalties in Singapore

Avoid Tax Penalties in Singapore

Business owners can avoid tax penalties in Singapore by observing the legal provisions of the Singapore Income Tax Act. The main requirements for filing and submitting tax returns are described in this document. Tax penalties in Singapore can be avoided by observing the local rules, regulations and good practices but…
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Taxation of Sole Traders in Singapore

Taxation of Sole Traders in Singapore

The sole trader or self-employed individual enjoys the lightest taxation and reporting regime out of all the possible types of legal entities in Singapore. This simple business form may be suitable for some investors; however, they must be well aware of the liabilities that are implied. The taxation of sole…
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