Overseas Services To Be Taxed by 2020

Overseas Services To Be Taxed by 2020

Overseas Services To Be Taxed by 2020 Changes to the Goods and Services Tax (Amendment) Bill will allow Singapore’s government to collect GST on overseas services beginning 2020. Users of Netflix for example, which is considered an overseas service, could cost extra. This may be a disadvantage for lower-income groups and further widen the digital…

International Standards on Exchange of Information Rates Singapore

International Standards on Exchange of Information Rates Singapore

International Standards on Exchange of Information Rates Singapore as Overall Compliant The Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) has rated Singapore’s exchange of information upon request regime as being overall compliant with international tax transparency standards. This assessment is conducted via a peer review process of Singapore’s exchange…

Agreement for Double Taxation Avoidance Between Singapore and Brazil

Comprehensive Agreement for Double Taxation Avoidance Signed Between Singapore and Brazil On 7 May 2018, Singapore signed a comprehensive agreement with the Federative Republic of Brazil. The agreement pertained to the Avoidance of Double Taxation (DTA), and the agreement was signed between Singapore’s Minister for Foreign Affairs Dr Vivian Balakrishnan and Brazil’s Minister of Foreign…

CAP for Corporate Income Tax (CIT) Rebates Raised

CAP for CIT Rebates Raised

CAP for Corporate Income Tax (CIT) Rebates Raised Singapore’s Minister of Finance, Heng Swee Keat announced in Budget 2018 that the cap for the Corporate income Tax (CIT) Rebate for YA 2018 will be raised to 40% of the corporate tax payable subject to a cap of $15,000. This is an increase from the previously announced rebate…