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Singapore Tax Filing Deadlines

20 Feb 2008 - Published in Blog, Doing Business in Singapore

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 [...]

Personal taxes

Singapore Budget 2008 – Key Corporate Tax Reliefs At a Glance

19 Feb 2008 - Published in Blog, Doing Business in Singapore

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 chargeable income for [...]

Singapore Flyer

Singapore Abolishes Estate Duty Tax with Immediate Effects

Published in Blog, Doing Business in Singapore

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 managed today on a global [...]

Signing documents

Singapore – XBRL Reporting One Step Forward

5 Nov 2007 - Published in Blog, Doing Business in Singapore

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 financial information, XBRL, or eXtensible [...]

Living in Singapore

SME Rebate Scheme

18 Aug 2007 - Published in Blog, Doing Business in Singapore, Entrepreneurship in Singapore

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 million. Not [...]

infrared graph

Financial Year End (FYE)

25 May 2007 - Published in Blog, Doing Business in Singapore, Entrepreneurship in Singapore

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 the deadline, which is set based on the company’s [...]

merlion overlooking city

When Must a Business Company Register for GST?

Published in Blog, Doing Business in Singapore, Entrepreneurship in Singapore

What is 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 July 2007. You must register: At the end of a quarter if [...]

singapore flag

Why Singapore?

Published in Blog, Living in Singapore, Relocation To 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 Private Limited Company New [...]

singapore old and new

Zero Tax for New Start Up Singapore Companies

24 May 2007 - Published in Blog, Doing Business in Singapore, Entrepreneurship in Singapore

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 [...]

workforce

Fostering the Human Capital, Singapore’s Style to Stay a Competitive Business Hub

Published in Blog, Doing Business in Singapore, Entrepreneurship in Singapore

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 SPRING Enterprise Conference on 5 [...]

company incorporation

Pitfalls in Singapore Companies Act – Recent Changes

3 May 2007 - Published in Blog, Doing Business in Singapore

To continue to promote Singapore as one of the world’s best locations for business, and to ensure we have an edge over countries such as Malaysia and Hong Kong, our government recently decided to make significant changes to the Companies Act. Some of the major changes include Private Limited Companies with annual turnover of less [...]

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