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Singapore Tax Filing Deadlines
A) Corporate Tax Filing Deadline: Year of Assessment Statutory filing deadline 2008 30 Nov 2008 2009 and thereafter 31 Oct of each year B) Individual Tax Filing Deadline: Year of Assessment Statutory filing deadline 2008 15 April 2008 C) Estimated Chargeable Income (ECI) A company needs to furnish Estimated Chargeable Income (ECI) within three months from the end of its financial year. For example: Financial ... Read More
Singapore Budget 2008 – Key Corporate Tax Reliefs At a Glance
In Singapore 2008-2009 budget speech, the finance minister unveiled a series of personal and corporate tax benefits designed to help both the working class as well as corporate business community in Singapore. Key Corporate Tax Reliefs - At A Glance The qualifying conditions on the existing tax exemption of S$100,000 on normal ... Read More
Singapore Abolishes Estate Duty Tax with Immediate Effects
Singapore abolished Estate Tax, which it had inherited during the British era. The move will encourage Singapore to become a attractive place for wealth to be invested and built up, whether by Singaporeans or foreigners. The Finance Minister, Mr.Tharman Shanmugaratnam in the budget speech said " Wealth is also being ... Read More
Singapore – XBRL Reporting One Step Forward
Singapore incorporated companies will be required to file their financial statements in XBRL ), unless they are excluded by the Accounting & Corporate Regulatory Authority (ACRA). Companies can prepare accounts can and manage their financial in XBRL using the FS Manager via the Bizfile website. To improve the accessibility of ... Read More
SME Rebate Scheme
The SME Rebate Scheme is a 2-year assistance scheme to help locally registered SMEs adjust to rising business costs. You are invited to apply for the scheme, if your Firm meets the following criteria: i) For a non-manufacturing firm: Business must be registered in Singapore. Fixed Asset Investment (FAI) of less than S$15 ... Read More
Financial Year End (FYE)
The financial year-end, according to which all financial statements are prepared. If the company’s date of closure were moved to another date, ACRA and The Singapore Inland Revenue must be informed promptly to avoid any unfavorable incident for the company. The accounts must be submitted before ... Read More
When Must a Business Company Register for GST?
What is GST? Goods and Services Tax (GST) is a tax charged on the supply of goods and services made in Singapore and on the importation of goods into Singapore. The current rate is 5% (from 1 January 2004). The rate will be increased to 7% from 1 ... Read More
Why Singapore?
Singapore is fast becoming a business city of choice. With excellent business infrastructure, political stability, and close economic ties with many of the world's leading economies, there has never been better time than now for entrepreneurs to immigrate to and set up their business in Singapore. Benefits of Incorporating a Singapore ... Read More
Zero Tax for New Start Up Singapore Companies
To encourage local entrepreneurship, Singapore Government has declared a full tax exemption for newly incorporated companies. New Start Up Companies Full tax exemption is granted on the first S$100,000 of Chargeable Income for qualifying new companies for the first three years of assessment consecutively. (%) First S$100,000 Nil S$100,001 to S$300,000 9 Thereafter a Flat Rate of 18 Note: *A ... Read More
Fostering the Human Capital, Singapore’s Style to Stay a Competitive Business Hub
Small and medium enterprises (SMEs) can look forward to upgrading their leadership and management expertise through SPRING Singapore’s new $20 million Management Development Programme (MDP). Minister of State for Trade and Industry and Minister-in-charge-of Entrepreneurship, Mr. Lee Yi Shyan launched this new back to business school initiative at the inaugural ... Read More
