by Willie Tan | Aug 1, 2024 | Tax
Whether you’re a new entrepreneur or an experienced business owner, grasping Singapore’s corporate tax landscape is vital. At only 17%, Singapore’s corporate income tax rate is among the lowest worldwide, making it an attractive destination for...
by Willie Tan | Jul 31, 2024 | Running Your Company
The Commodity Trading Sector in Singapore Singapore hosts approximately 300 global trading companies, operating under the International Enterprise Global Traders Program, which includes some of the world’s largest commodity groups. Its strategic geographical...
by Willie Tan | Jul 29, 2024 | Running Your Company
Senior Employment Credit (SEC) The SEC program offers wage subsidies to Singapore employers hiring senior Singaporean workers. The aim is to assist businesses in managing the higher costs associated with the increased Retirement and Re-employment Ages. For 2023 to...
by Willie Tan | Jul 25, 2024 | Starting a Company
The textile sector, one of the oldest segments of the manufacturing industry, has consistently performed well within the global economy. Asian countries are renowned for their textile mills and manufacturing firms that export products worldwide. Singapore, in...
by Willie Tan | Jul 24, 2024 | GST
We have recently shared with our client the GST treatment for advertising services provided by their Singapore entity. They are unclear as some of their services are provided locally as well as overseas to customers at various locations. To understand the various...
by Willie Tan | Jul 23, 2024 | Tax
Understanding the business expenses recognised by IRAS can significantly enhance your financial efficiency when launching a business in Singapore. This guide aims to help you maximise these benefits and support sustainable business growth. The objective is to ensure...
by Willie Tan | Jul 18, 2024 | Running Your Company
Home Office Scheme The Home Office Scheme permits homeowners, registered occupants, or tenants of HDB flats to operate small-scale offices from their residences, following the current usage guidelines. You are allowed to use your flat for administrative business...
by Willie Tan | Jul 1, 2024 | Glossary
The Institute of Singapore Chartered Accountants (ISCA) is the national professional accountancy body in Singapore. It plays a crucial role in the accounting profession in the country. Here are some key points about ISCA: Established: ISCA was...
by Willie Tan | Jul 1, 2024 | Glossary
Statutory income is a term used primarily in tax law to refer to income specifically defined by statute as subject to tax. This type of income includes all earnings that are legally required to be reported to the tax authorities and is subject to taxation according to...
by Willie Tan | Jun 28, 2024 | Glossary
The Comptroller of Income Tax in Singapore is a key official within the Inland Revenue Authority of Singapore (IRAS), responsible for the administration and enforcement of income tax laws. The role involves several critical functions and powers as stipulated in the...
