How to Cut Down Your Taxes
Even if you do not belong in the uber rich tax bracket and is currently not paying huge taxes, it doesn’t mean that you can’t apply on your business. So considering tax strategy to cutting down on income taxes is a wise decision and will surely have a positive effect on your net disposable income. [...]
Do I need to pay tax in Singapore as a visiting professional?
My engagement in Singapore as a visiting professional spreads over 5 months. My home country has a tax treaty with Singapore. Do I still need to pay tax in Singapore? Whether you need to pay tax in Singapore would depend on the provisions of the tax treaty. For example, under the tax treaty between Singapore [...]
Singapore Is White and Signs Are Bright
Singapore made its way to the “White List” ( a list of jurisdictions deemed to have substantially implemented OECD standard for transparency and exchange of information) maintained by the Organisation for Economic Co-operation and Development (OECD) after signing a 12th bilateral information sharing agreement with the French Government. The OECD requires a country to seal [...]
Singapore has 3rd lowest corporate tax rate in Asia-Pacific
The global economic slow down has prompted governments across the world to reassess their tax policies. Invariably the tax authorities have expanded the tax base by introduction of indirect taxes or by increasing the rates. At the least this year’s budget did not include any significant slash in corporate tax rates in Europe, the US [...]
Singapore – Taxman gives Tax Savings Tips for SMEs
The Inland Revenue of Singapore recently reported that as many as 120,000 corporate taxpayers, especially the small and medium enterprises, are not aware and hence, not using the tax incentives available to them. In news report published in the Straits Time on Thursday, 8th October, 2009, (Click here for more info) these SMEs are not [...]
Singapore Emerging Attractive as Tax Havens Are ‘Grey Listed’ by Regulations
The organization for Economic Co-operation and development’s (OECD) has “ grey listed” certain jurisdictions that were once deemed as tax havens. They include Monaco and Liechtenstein. Bankers have orchestrated that with regulations for offshore financial centers increasing it appears that the number of players in the offshore financial field will diminish particularly if they seek to [...]
IRAS accept 9 Amendments to be Incorporated into Draft GST Bill
The Ministry of Finance (MOF) has accepted for implementation 9 out of the 16 suggestions received on the draft GST (Amendment) Bill 2009 during the public consultation exercise held from 3 to 24 June 2009.
Exemption From CPF Contributions
Employees who are exempted from CPF contributions Foreigners on Employment Pass, Professional Visit Pass or Work Permit CPF contributions are not allowed for foreigners. Both the employer’s and employee’s share of contributions for foreign employees on Employment Pass, Professional Visit Pass or Work Permit will not be accepted. Partners, sole-proprietors or self-employed All Singapore citizens [...]
