CAP for CIT Rebates Raised

CAP for 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 of 20% of…

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Importance Of Informing ACRA / IRAS On Changes

Importance Of Informing ACRA / IRAS On Changes All company owners in Singapore are advised to file any change of name or office address with the Accounting and Corporate Regulatory Authority (ACRA) immediately. This can be done online via www.bizfile.gov.sg/ There is no need to inform or update IRAS separately of the change in name or address. IRAS will update…

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GST On Imported Services From Jan 1, 2020

GST On Imported Services From Jan 1, 2020 Consumers and businesses who buy imported services from suppliers based overseas which have no establishments in Singapore will have to pay goods and services tax (GST) from Jan 1, 2020 onward.   The GST will be levied on two types of services: business-to-business (B2B), such as marketing services, accounting services and IT services;…

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