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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…
FinTech can be defined as technology that has been incorporated into financial services. The term ‘’FinTech’’ is also the official abbreviation for financial technology. That being said, what FinTech refers to is the innovation of technology when it comes to both the design and the delivery of financial products and services. PayPal is one example…
There is no doubt that the digital age has made big changes in the world of business. Due to the rise of online shopping, starting your own courier business in Singapore can be a choice to consider. 💡 Want to start an online business instead? Read our guide on how to start here! The…
When it comes to work passes that are available in Singapore, the Employment Pass (EP) and Entrepreneur Pass (EntrePass) are 2 of the most widely applied and popular work visas in Singapore. Although it is true that both passes share some similarities with one another, there are some considerable differences between them. In the end,…