Everything You Need to Know About Singapore’s Updated Tax Transparency Standards Singapore regularly updates its tax laws to ensure that the city-state makes income taxes filing transparent and maintains its reputation as a supportive jurisdiction for business. The latest Income Tax Act update came in 2014, which was after peer countries in the Global Forum…
What You Need to Know About the Government Tax Incentives in Singapore Singapore’s government gives several tax incentives to encourage and promote entrepreneurship. Together with the Inland Revenue of Singapore (IRAS), it has enforced tax incentive schemes that target businesses, especially the startups. The incentives could be from exemptions on income capital in order to…
Knowing the Implications of Global Tax Suppression Singapore must clarify its stance on tax avoidance and aid local businesses in preparing for the new rules. There was a financial crisis in 2008. But then, Singapore experienced years of consistent economic growth due to global tax suppression. All banks in Singapore are quickly analyzing and scrutinizing…
Investing in India? Check These Singapore Tax Benefits! Singapore is now the biggest foreign direct investment source that enters India, which strengthens business connections between them. There is a common history, ethnography, and culture between these two countries. Both can be traced back their social norms and values to the South Asian Indo-Chinese cultural patrimony.…
Correcting the Common Corporate Tax Myths in Singapore Even if Singapore is known for having a progressive tax regime with low tax rates and attractive incentives, there are still corporate tax myths in Singapore. These myths might be the reason why some investors and entrepreneurs avoid investing in Singapore. They also do not have access…
What You Need to Know About Singapore Double Tax Agreements Taxes give small and big businesses major concerns. If a person or business gains income outside the residence state, that income might have double taxation at the residence and source state. Singapore Double Tax Agreements (DTAs) are helpful in promoting bilateral investment and flows of…
About the Benefits of Employment Act The benefits of Employee Act are important when it comes to convincing an employee to do a job. The government of Singapore has enacted major amendments that impact businesses and employees that work for local and foreign companies under an employment contract in Singapore. The amendments are meant to…
What Are the Latest Employment Act Updates? The Employment Act updates have changes that took effect April of last year. First, they started to include more employees with a better protection package. Hence, companies have taken note of the changes, mainly on the legislation that governs the employment landscape. An amendment took place in order…
