新加坡税务

2019-11-06

What is Corporate Tax

Corporate Tax Corporate income tax rate Companies, whether local or foreign, are taxed at a flat rate of 17% of their taxable income. General rule for all companies All Singapore companies are required to pay tax on income from the previous financial year. The income from the 2019 Financial Year will be taxed in 2020. Base period and year of assessment For tax purposes, using the same example above, 2020 is the year of assessment (YA). In other words, YA is the year in which your income is assessed for taxation. In order to assess the tax, the Inland Revenue […]
Do you like it?
Read more
2019-12-02
blank

Taxable Income

Taxable Income For Singapore tax purposes, taxable income refers to: The proceeds or profits of any trade or business. Investment income such as dividends, interest and rent. Royalties, insurance premiums and any other property profits. Other gains that are revenue in nature Deductions such as business expenses, capital allowances and reliefs can be claimed to reduce taxable income, which will result in a lower taxes. Business Expenses Business expenses are the costs you pay to run your business. Some examples are Central Provident Fund contributions, salaries, renovations, advertising, etc. Business expenses may or may not be deductible. When deducted, they […]
Do you like it?
Read more
2020-02-29
blank

Tax Clearance for Foreign Employee

Tax Clearance for Foreign Employee Give Notice to Your Employer Your employer must file the Form IR21 at least one month before you cease employment with them, go on an overseas posting or leave Singapore for more than three months. For example, if you tender your resignation on 14 Aug 2020 with your last day of employment being 13 Oct 2020, your employer is required to file the Form IR21 by 14 Sep 2020. Hence, please give sufficient notice to your employer so that they can file the Form IR21 for you early. This will also give you time to settle […]
Do you like it?
Read more