Tax

Company unabsorbed capital allowances, losses and donations

The rules for capital allowances and losses discussed in this article generally apply to income derived from a trade, business or profession. Note that capital allowances are not available to a person carrying on a vocation.   Unabsorbed capital allowances Where the Capital Allowance (CA) cannot be fully utilized in the current year, there are …

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Taxation of employment income for Singaporeans working abroad

Taxation of employment income for Singaporeans working abroad

Executive summary Singaporeans are generally considered as Singapore tax residents. By concession, they could elect to be treated as non-residents, if they have been working overseas for at least six months in a calendar year. This concession will be withdrawn from Year of Assessment (YA) 2021, which is income earned in 2020. This change will …

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Compliance with IRAS Requirements – A Singapore Business Guide

According to the Singapore Companies Act, every Singapore Company must file certain reports to relevant government bodies each year. The Inland Revenue Authority of Singapore (IRAS) is the main government agency that levies and collects taxes in Singapore. Do you have to comply with IRAS? Absolutely yes! All Singapore companies must follow certain legal obligations …

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Effective Tax Planning and Consultancy Services in Singapore

Whether you are a citizen or you own a business in Singapore, you are legally responsible to pay taxes to the respective governmental authorities. The modern-day economy is very volatile, which emphasizes the need to manage your taxes effectively, especially for your businesses to remain competitive in the global market. Equally, it is important to …

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How to Pay Corporate Tax in Singapore including Rates and Exemptions

There are many benefits of incorporating a company in Singapore: ease of doing business, first-rate financial hub with readiness of affordable funding, excellent connectivity, robust IP protection and legal system, and strategic location among the world’s leading emerging markets, among many others. However, the key benefit from a corporate perspective is the attractive tax framework …

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