Adopting Digital Earlier Than the Rest Makes Singapore an Asian Digital Leader In today’s world, it is mostly occupied with digitalisation. From merely ordering food, to retaining sensitive information, we seem to rely on computer power and digitalisation to make our lives easier. Admit it, only a few of us can recall the phone numbers…
Numeracy Advantage for The Entrepreneurs Entrepreneurs are constantly on the lookout for more opportunities and beneath all opportunities, there is a common language: numbers. Numbers are all around us from the national to the sector and the company level. How would those different tiers of number translate down into numbers which are relevant to you?…
Explaining the US Expat Taxes for American Citizens Living in Singapore It is mandatory for every US citizen to file expat taxes if they are currently living outside the country. Well, around 30,000 Americans residing in Singapore pay expat taxes to the US government every year. You see, most countries in the world exercise either…
An Essential Guide to India-Singapore DTA: Introduction and Conditions India-Singapore DTA is the double tax agreement between the two countries which avoids double taxation on income. For any income that is liable to be taxed on India and Singapore, they will only be taxed on one jurisdiction, which decreases the taxpayer’s burden The first DTA…
Differences Between the 2019 and 2020 Tax Seasons in Singapore Both 2019 and 2020 tax seasons have been over in Singapore. Even if most of the things were similar, for example, the deadlines and the way of filing taxes, there were some slight changes and updates. We contrast between them, which will also give an…
Understanding How Simplified GST Pre-Registration Works in Singapore The Goods and Services Tax (GST) is a Value-Added Tax (VAT) levied on the import and supply of goods and services. To understand how GST works, we need to understand VAT and how it works. VAT is a consumption tax levied on the value added to goods…
Everything You Need to Know About Singapore’s Updated Tax Transparency Standards Singapore regularly updates its tax laws to ensure that the city-state makes income taxes filing transparent and maintains its reputation as a supportive jurisdiction for business. The latest Income Tax Act update came in 2014, which was after peer countries in the Global Forum…
What You Need to Know About the Government Tax Incentives in Singapore Singapore’s government gives several tax incentives to encourage and promote entrepreneurship. Together with the Inland Revenue of Singapore (IRAS), it has enforced tax incentive schemes that target businesses, especially the startups. The incentives could be from exemptions on income capital in order to…
Knowing the Implications of Global Tax Suppression Singapore must clarify its stance on tax avoidance and aid local businesses in preparing for the new rules. There was a financial crisis in 2008. But then, Singapore experienced years of consistent economic growth due to global tax suppression. All banks in Singapore are quickly analyzing and scrutinizing…
Investing in India? Check These Singapore Tax Benefits! Singapore is now the biggest foreign direct investment source that enters India, which strengthens business connections between them. There is a common history, ethnography, and culture between these two countries. Both can be traced back their social norms and values to the South Asian Indo-Chinese cultural patrimony.…
Correcting the Common Corporate Tax Myths in Singapore Even if Singapore is known for having a progressive tax regime with low tax rates and attractive incentives, there are still corporate tax myths in Singapore. These myths might be the reason why some investors and entrepreneurs avoid investing in Singapore. They also do not have access…
What You Need to Know About Singapore Double Tax Agreements Taxes give small and big businesses major concerns. If a person or business gains income outside the residence state, that income might have double taxation at the residence and source state. Singapore Double Tax Agreements (DTAs) are helpful in promoting bilateral investment and flows of…
