Category Archives: Taxation

Singapore Budget Updates 2018: Corporate Tax

[su_x3] Singapore Budget Updates 2018: Corporate Tax Income The Singapore Budget 2018 was delivered by the Finance Minister, Mr Heng Swee Keat, on 19 February 2018. This article highlights some of the key changes on corporate tax. Adjustments to Tax Exemption Schemes For start-ups, with effect from YA 2020, there will be 75% tax exemption […]

Singapore Budget Updates 2018: Goods and Services Tax

[su_x4] Singapore Budget Updates 2018: Goods and Services Tax The Singapore Budget 2018 was delivered by the Finance Minister, Mr Heng Swee Keat, on 19 February 2018. This article highlights some of the key changes on goods and services tax (GST).   Increase in GST rate The prevailing GST rate of 7% will be raised […]

Should I Voluntarily Register my Company for GST?

[su_p4] Should I voluntarily register my company for GST? GST registration is required only if: • Turnover is more than S$1 million for the past 12 months; or • Turnover is expected to exceed S$1 million for the next 12 months However, a company may still voluntarily register for GST. The factors listed out below […]

An Introduction to Singapore Taxation

The Inland Revenue Authority of Singapore (IRAS) is the governing body for all taxation matters. Personal Income Tax Income tax is payable on both Singapore-sourced and foreign-sourced income received in Singapore. Exemptions may apply to certain foreign-sourced income. Income tax rates depend on an individual’s tax residency status. An individual will be treated as a […]

Outsourcing as an Alternative

Focusing on your business priorities Small and medium enterprises are often limited by budget and time constraints, and would have priorities over growth, business expansion or research and development. Outsourcing therefore provides business owners with a sensible alternative to ensure that their accounting and bookkeeping needs are managed by a group of professionally accredited accountants. […]