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Health concerns are often subject to a lot of misconceptions. For example, some people truly believe in the adage “An apple a day keeps the doctor away” and ensure that they consume apples as part of their daily diet. However, science shows that while apples do have great nutritional value such as providing fibre and…
Since 1 January 2008, Singapore shareholders have not been taxed on dividends paid by a local company in Singapore under the one-tier corporate taxation system. Dividends can be defined as profits that are received from your portion of the ownership share in a company. These dividends can be paid out in 2 different ways –…
According to the general definition, capital gains tax is a tax that is levied on profit generated from the sales of asset in which the price is higher than its original purchase price. Note the clear difference between the asset’s sale price and its original purchase price. 📚 Start with the basic. Read our guide…
Tax avoidance and tax evasion are 2 different terms. While they may sound to be the same, their concepts are actually quite different from one another. Basically, while tax avoidance is legal, tax evasion is not. 📚 Start with the basic. Read the overview of Singapore taxation. Tax avoidance arrangements typically involve arrangements that are…
Singapore residents who pay tax can be subjected to tax on foreign income that is received in the country unless the foreign income meets all the requirements to qualify for tax exemption. If that income is also subjected to tax in the foreign tax jurisdiction in which it is derived, a Foreign Tax Credit (FTC)…
Taxation of Partnership A partnership can be defined as a legal relationship between 2 or more individuals who have agreed to carry out business with the purpose of making a profit together, and then sharing that same profit. Since a partnership is not recognized as an entity in law, it is not obligated to pay…
The telecommunication industry has experienced massive growth in Asian-Pacific countries over the last few years. Particularly, there have been demands for mobile telephone, telephony, satellite, high bandwidth, and data hosting services. As a proud host of one the leading global telecom networks, Singapore invites entrepreneurs and existing companies to expand in the country. Singapore is…
The IT industry in any country plays a significant role in development. In today’s modern age of technological advancement, neither individuals nor businesses can flourish without some digital aid. Hence, if you are passionate about it, establishing a software development company in Singapore makes perfect sense. With many well-established IT companies in Singapore, they have…
There are good reasons why so many foreigners want to get a Singapore Permanent Residence (PR) status. As permanent residents of Singapore, there are many benefits that they get to enjoy. ✈️ Want to move to Singapore? Read our guide on how to migrate to Singapore. Are You Eligible to Apply for Singapore Permanent…
As you probably already know, things are not what they used to be when it comes to foreign workforce in Singapore. The Singapore government has been reducing both the DRC (Dependency Ratio Ceiling) and the S Pass sub-DRC since 2020. The reason why lies in the fact that the Government wants to encourage employers to…