Resource Centre

Singapore enacts Section 10L on Taxation of Gains from the Sale of Foreign Assets (compiled by N Vimala Devi) To align with European Union laws and comply with international standards […]

1 January 2024 will see phrase II of the GST rate change from 8% to 9% as announced by the Minister of Finance in Budget 2022. Here are some tips […]

The Deputy Prime Minister and Finance Minister, Mr Wong, announced the Singapore 2023 budget on 14 February 2023. Singapore emerged from COVID-19 stronger in 2023, moving forward into a new […]

Preparation and adjustments for GST changes in 2023 and 2024  

Following the landmark court case of Z.F. v Comptroller of Income Tax (2010) SGCA, the recent court case at the Income Tax Board of Review, GEY v Comptroller of Income […]

The 2022 budget seeks to support jobs, businesses, and households in a significant $560 million package through the Small Business Recovery Grant and Jobs Growth Incentive. Also, to assist Singaporeans […]

The year 2020 was a challenging time for Singapore, like many economies worldwide that were adversely affected by the Covid-19 pandemic. This crisis has led to the economy shrinking by […]

As part of the COVID-19 relief measures, the Minister for Finance has announced, in the FY2020 Budget and FY2020 Supplementary Budget, a property tax rebate of up to 100% of […]

Amidst the COVID-19 outbreak from China that has since become a worldwide pandemic, the SG United Budget on 18 Feb 2020 was announced. As expected, the Minister of Finance gave a […]

Singapore introduced legislation to transact with related parties on arm’s length basis under section 34D of the Singapore Income Tax Act (“the Act”) which stipulates the requirement to transact with […]

The Minister of Finance announced the Budget on 18 Feb 2019. In 2018 the Singapore economy grew 3.2% with an overall budget surplus of S$2.1b. For 2019, the Budget projects […]

Currently, Singapore does not impose Goods and Services Tax (“GST”) on the importation of services into Singapore. Consumers who download software and music from overseas do not have to pay […]

Singapore offers many attractive benefits to set up businesses and operations in its shores. We are currently ranked second in 2017 by World Bank in the Ease of Doing Business […]

In order for employees to better understand their salary tabulations and employment terms and benefits, employers are required to issue itemized payslips and key employment terms (“KETs”) to all employees […]

Singapore has many advantages. It is a developed country which has achieved US$55,000 per capita GDP, a small city state with 5.4 million people located strategically in South East Asia […]

Companies (Amendments) Act 2014 passed by Parliament on 8 October 2014 and assented by the President on 18 November 2014.

Singapore is known for its clean and green environment including a very efficient government and excellent infrastructure. It is famous for its shopping and food culture. It is one of […]

In recent years, many multinational corporations (“MNC”) have come under scrutiny by the tax authorities with regard to the amount of taxes they have paid as compared to their actual […]

On 31 May 2013, IRAS issued the e-tax guide to provide guidance on the GST treatment on this complex area of “Recovery of Expenses” under the various business scenarios. The […]

In the 2010 Budget, the Minister for Finance unveiled a $5.5 billion budget with a key focus to increasing productivity by 2 to 3 per cent a year over the […]

In his 2012 Budget, the Minister for Finance announced that certainty of non-taxation will be given on gains derived by a company from the disposal of equity investments that meet […]

Foreign sourced income may suffer tax in the foreign country where it arose. When such foreign sourced income is received in Singapore, it will be subject to Singapore tax unless […]

Singapore’s very own landmark court of appeal case of ZF v Comptroller of Income Tax [2010] SGCA 48 has indeed clarified many doubts that taxpayers have had on the question […]

The M&A allowance incentive was introduced by the Minister for Finance in his 2010 Budget. Its aim is to incentivise companies in Singapore to grow and internationalise through M&A by […]

A director of a Company is defined in Section 4(1) of the Singapore’s Companies Act, Cap 50 (the “Act”), to include any person occupying the position of director by whatever […]

The Accounting and Corporate Regulatory Authority (“ACRA”) has recently launched three initiatives to encourage companies to hold their Annual General Meetings promptly, tabling of current financial statements and timely filing […]

The amalgamation process is one in which two or more companies can be “combined” such that the property, rights, privileges, liabilities and obligations of one or more amalgamating (i.e. discontinuing) […]

The Singapore Budget 2020 was announced in February. Given the fast-changing nature of the global economy, employers are looking to cut costs in daily operations. Payroll takes 30% to 50% […]