Most companies incorporated in Singapore are required to prepare their financial accounts annually in accordance with the Singapore Financial
Frequently Asked Questions : Taxation & Accounting
When is Central Provident Fund (CPF) required to be paid?
Central Provident Fund (CPF) payments are to be paid monthly and within 14 days after the end of the month for which CPF contributions are due.
Who does Central Provident Fund (CPF) apply for?
The Central Provident Fund (CPF) applies to Singapore citizens and permanent residents earning more than S$50 a month.
What tax incentives will I enjoy if I were to register a subsidiary company rather than a foreign branch?
As a Singapore subsidiary, your company will be entitled to the following benefits: Your company may be eligible for income tax exemption available
Where should I file my company’s annual accounts?
Annual accounts are required to be filed with ACRA (Accounting & Corporate Regulatory Authority) and IRAS (Inland Revenue Authority of Singapore)
What should I do now if my company turnover is about to reach 1 million?
You need to assess if your company turnover in any past 12 months or the next 12 months is more than S$1 million. If it is, you need to register
What is the Singapore personal income tax rate?
The Singapore individual income tax rates for YA 2022 are shown below. Singapore individual / personal income taxes are charged progressively (0% –
What is the Stamp Duty Tax for Property Transfer in Singapore?
The Stamp Duty Tax for property transfer in Singapore is as follows: Value of property Rate (%) First S$180,000 1.0 Next
When is personal overseas income taxable?
Income from overseas is taxable in the following scenarios: It is received in Singapore through partnerships established in Singapore Your
What is the individual taxation scheme for non-residents?
Non-residents are taxed at a flat rate of 15%.
What is service income and what does it constitute?
Any income earned by providing technical, consulting or other professional services as a part of their trade, profession or business is considered as
What is Central Provident Fund (CPF) computed on?
For computing Central Provident Fund (CPF), salary is classified into Ordinary Wages (OW) (wages due or granted wholly and exclusively in connection