Frequently Asked Questions : Taxation & Accounting

What is the individual taxation scheme for non-residents?

Non-residents are taxed at a flat rate of 15%.

Any income earned by providing technical, consulting or other professional services as a part of their trade, profession or business is considered as

Goods and Services Tax (GST) is a tax on the supply of goods and services made in Singapore by a taxable person in the course or furtherance of any

A Taxable Supply is a supply of goods and services made in Singapore other than an exempt supply. Goods & Services Tax (GST) is chargeable on a

The current headline corporate tax rate in Singapore is a flat 17%. Full and partial tax exemptions are available for taxable income of up to

If you are late in registering for Goods & Services Tax (GST), you will be guilty of an offence and be liable on conviction to a fine up to

Incorporated companies are separate legal entities. The registration liability of an incorporated company will be determined on its own. It is

For computing Central Provident Fund (CPF), salary is classified into Ordinary Wages (OW) (wages due or granted wholly and exclusively in connection

A Singapore "resident" company is one for which the control and management of the business is exercised in Singapore while a company which is "not

“Taxable Turnover” is the total value of all taxable supplies made in Singapore (excluding Goods & Services Tax (GST)) in the course of

Your Central Provident Fund (CPF) is for your retirement. You can withdraw your CPF savings when you turn 55, after setting aside your CPF Minimum

Goods & Services Tax (GST) is a self-assessed tax. This means that businesses are required to continually assess the need to register for GST.