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In one way or another, businesses of all nature will have to pay taxes. The best way to remain compliant with tax policies is to have a clear understanding of Singapore tax regulations and reliefs. By identifying specific opportunities for tax savings and by employing appropriate tax planning, you can optimize the amount of income…
There are many perks to having a Singapore-based business, and its lucrative tax incentives are definitely atop the list. Thanks to the country’s Income Tax Act, your business might be granted an industry-specific tax incentive. For a fee, Timcole can not only assist you with company incorporation but also with accounting and taxation to help…
Taxation of International Executives in Singapore Taxation is an integral part of any state’s economy. It brings in revenue for the government to manage the budget, expenses, utilities, and much more. Every state has taxation proceedings according to its requirements, rules, and laws. It helps them to keep things in order. The taxation procedure can…
If you are a shareholder, it is very important for you to think about what will happen to the shares that you possess once your time comes. Having a robust succession plan in place can be extremely helpful when it comes to making a smooth transition to the next generation of management. And on top…
Overview of Singapore Taxation To get the overview of Singapore Taxation, here is the complete guide for you. If the business’s incomes are derived from or transmitted to Singapore, then income tax must be paid. Depending on your business type, there are a few other taxes, i.e., stamp duty, withholding, etc. The most important taxes…
Corporate Compliance Requirement – Ongoing Compliance If you are a Singapore-based company, you must comply with the legal requirements of the Singapore Companies Act and file your Annual Return with the Accounting and Companies Regulatory Authority (ACRA) and the Singapore Inland Revenue Authority (IRAS). It is imperative that all companies comply with the law in…
Corporate Compliance Requirements – Compliance with ACRA Requirement for Register of Registrable Controllers (RORC) Companies, foreign companies and limited liability partnerships (LLPs) (unless exempted) are expected by ACRA to maintain information on beneficial ownership in the form of a Registry of Registered Controllers (RORC) and upon request, to make this information accessible to public…
Corporate Compliance Requirement – IRAS Compliance Annual Filing Requirements with the Inland Revenue Authority of Singapore (IRAS) All registered companies in Singapore are expected to submit an annual ECI and Form C tax return to IRAS as part of their statutory compliance. Estimated Taxable Income (ECI) The ECI is an estimate of the…