Singapore Taxation

Penalties for Tax Evasion in Singapore

Governments enact tax regulations to make sure that people pay all the taxes they should be paying. However, some people try to avoid making such tax payments by engaging in either tax evasion or tax avoidance. These two actions are not equivalent, though. The main distinction is that tax avoidance is permissible while tax evasion…

5 Ways to Save On Your Corporate Tax in Singapore

Currently, at just 17 per cent, Singapore has one of the lowest corporate tax rates in the whole world. Because of this low rate, along with several other tax incentives, Singapore is a preferred place for many foreign investors. There are many organisations that are expanding their operations in Singapore, and any way to save…

What are the Tax Incentives for Family Offices in Singapore?

It is no surprise that Singapore remains one of the best destinations in South-East Asia for those seeking business and investment opportunities. This is because the government of Singapore has, over the past decades, been proactive and intentional in incorporating solid and enticing corporate laws to build a better business environment. Singapore’s accessibility to local…

Tax Benefits for New Start-ups in Singapore

Have you considered establishing a company in Singapore? Is the thought of starting your own business and managing your operations, marketing, and sales appealing to you? If so, you ought to be aware that your start-up can qualify for tax benefits. These tax exemptions might provide a significant boost that could encourage you to launch…

What Should I Do If I’m Late In Filing My Corporate Taxes?

Every business in Singapore is mandated by law to file and pay taxes. The Inland Revenue Authority of Singapore (IRAS) sets the corporate tax filings due date as the 30th of November each year. You can either do this on your own or appoint a corporate tax filing agent to do it on your behalf.…

How to Reduce Your Taxes by Making Tax-Deductible Donations

The word “tax” can be a confusing concept to several people. This is because there are so many elements and fields one needs to look into. Also, many people do not know that their taxes can be reduced in several ways legally. For example, every business or individual can claim tax relief for their donation…

GST Increase From 7% to 9% – How Does It Impact Businesses?

Ever since the announcement to increase the Goods and Services Tax (GST) by two percentage points, from 7 per cent to 9 per cent, in 2018, there have been a lot of speculations in terms of when and how will this impact us. But the wait is over. It was announced in Budget 2022 that…

What is Form C-S (Lite)?

Singapore is one of the most attractive destinations globally for foreign investments. It is mainly due to the simple corporate tax structure and business-friendly taxation system. The tax is divided into two significant brackets: Personal Tax – Paid by Individuals Corporate Tax – Paid by companies The Inland Revenue Authority of Singapore (IRAS) is the…

9 Tips to Reduce your Personal Singapore Income Tax

In the majority of the countries, individuals and businesses need to pay some portion of their earnings as Income Tax to the government. These taxes along with others are collected for smoothly running the country as well as for developing it. In this article, we would be sharing some tips on how you can save…

4 Tips to Avoid Common GST Errors

Are you a Singapore business looking to file Goods and Services Tax (GST) returns? If you are not sure how to file GST returns without any mistakes, you are at the right place. In this blog, you will learn about some of the most common GST errors companies make when filing their GST returns. GST…