Singapore Taxation

Filing Corporate Taxes: A Guide for Form C and Form C-S

Filing corporate taxes in Singapore involves submitting tax return forms C or C-S. The forms must be completed and submitted to the IRAS within a timeframe. (Find out other IRAS compliance here.) Before you delve into details of how to fill-up each type of form, it is important to understand what each one is.  …

Singapore Custom Duty Rate & Dutiable Goods

Over the years, Singapore has earned a reputation for its favourable regulatory environment for import-export businesses. The country’s business-friendly nature and strategic location have facilitated a business-friendly environment for the growth of trading companies. For international investors who wish to import or export products to and from Singapore, has no better place to be than…

Singapore Taxation on Foreign-Sourced Income

Singapore is a bustling business hub in Asia, and for all the right reasons. Thanks to globalization, a significant portion of the country’s income is derived from overseas. Most of this foreign-sourced income, as well as all income earned in Singapore, are subject to corporate tax. Oftentimes, foreign income will not only be taxable in…

Singapore Corporate Tax Guide

Just like many other countries, Singapore uses its own corporate tax system, and all companies in the country have Singapore company tax number. Singapore uses the one-tier corporate tax system so that stakeholders won’t pay tax twice. The rate of corporate income tax has remained at a flat rate of 17% since 2010. Tax is…

Singapore Corporate Income Tax Rate

Singapore’s booming economy and excellent financial hub are part of the reasons why the residents of the country enjoy some special privileges. When it comes to privileges in business, the effective Singapore company tax rates can’t be overlooked. The various tax incentives and corporate income tax rates are part of the reasons why foreign investors…

Singapore Personal Income Tax Guide 2020/2021

Singapore Personal Income Tax The tax system of Singapore includes both corporate income tax and personal income tax. One of the reasons why Singapore is a very attractive business location is that it has one of the lowest personal income tax rate in the world today. The taxable income amount and tax residency are the…

Should I Register GST for My Sole-Proprietorship Business in Singapore?

Every business needs to consider some practical issues regarding Goods and Services Tax (GST) and IRAS filing compliance. As a business owner, one of the most important steps you should take is to determine whether your business qualifies for GST registration. If your taxable supplies for the previous accounting year is greater than S$1 million or…

Should I Register GST for My Company in Singapore?

If your company’s revenue is not up to $1 million, you may be questioning yourself within whether you should register GST for your company.   Goods and Services Tax Goods and Services Tax in Singapore is a consumption tax levied on supplies of goods and services within Singapore as well as the import of goods. The…

Overview of Goods and Services Tax (GST) in Singapore

Goods and Services Tax (GST) is a consumption tax levied on supplies of goods and services within Singapore as well as import of goods. Many other countries refer to GST as Value Added Tax (VAT). Presently, the GST rate in Singapore is 7%.   GST Registration All companies in Singapore must register for GST if…

Tax Saving for Setup Companies in Singapore

According to the Income Tax Act, Singapore-based partnership and sole proprietorship businesses are taxed based on the owners’ personal income tax rate. Under Section 10(1)(a), the individual partners and owners are expected to pay tax based on profits earned from their shares. Click here to learn more on the overview of Singapore taxation. Singapore’s personal…