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
Frequently Asked Questions : Taxation & Accounting
What is the registration rule for each type of business engagement to determine my liability to register for Goods & Services Tax (GST)?
Incorporated companies are separate legal entities. The registration liability of an incorporated company will be determined on its own. It is
What is Taxable Turnover?
“Taxable Turnover” is the total value of all taxable supplies made in Singapore (excluding Goods & Services Tax (GST)) in the course of
What is the annual set date for filing individual / personal income tax in Singapore?
The due date or deadline for filing individual taxes or personal income tax is 15 April each year. Late filing or failing to file at all could incur
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
What is Central Provident Fund (CPF) for?
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
What is Central Provident Fund (CPF)?
The Central Provident Fund or CPF is a mandatory pension fund scheme applicable for all Singapore citizens and Singapore permanent residents earning
What is the Central Provident Fund (CPF) contribution rate?
The maximum Central Provident Fund (CPF) contribution rate for employer and employee is 16% and 20% respectively and can be lower depending on
What is the corporate tax rate in Singapore?
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
What tax benefits does the Singapore Government give to a newly set up Company?
To encourage local entrepreneurship, Singapore Government has declared a full tax exemption for newly incorporated companies: NEW START UP