When are gains from the sale of property, shares and financial instruments taxable?

As a starting point, in Singapore, investment gains are not taxable. Hence, if an individual or a business entity like a company sells a property, shares or other financial instruments, the possible profits that are received are not subject to tax.   According to IRAS, the following gains are generally not taxable: Gains that are [...]

By |2022-04-11T13:11:07+08:00April 11th, 2022|Questions and Answers|

What are Routine Secretarial Services?

In accordance with the Companies Act, every Singapore registered company is required to appoint a company secretary. In many instances, companies may outsource this position, as well as the duty to maintain corporate compliance, to a corporate service provider like Singapore Secretary Services. The role of the Company Secretary is to assist in the administration [...]

By |2022-02-07T09:35:49+08:00February 3rd, 2022|Questions and Answers, Running a Company|

Can I set up a company in Singapore and apply for a valid work pass?

This article was previously featured on Singapore Employment Agency and syndicated on our website.   The short answer to this question would be yes. However, there are a few qualifiers and you should read further into this article to better understand what they are.   There are many who would like to come to Singapore [...]

By |2022-01-25T12:20:29+08:00January 25th, 2022|Employment and Immigration, Questions and Answers|

Should I outsource my payroll management?

What is payroll management? Payroll management is about administering employees' salaries, bonuses, relevant payments and financial records and possibly other miscellaneous items like leave and medical leave matters. Payroll management is an important aspect of running a company. It is mandatory to maintain and keep employees' records according to the Employment Act. You have two [...]

By |2022-01-05T14:31:42+08:00January 5th, 2022|Questions and Answers|

How can I pay for the shares of a company?

Payment for shares can be in cash or non-cash consideration. As shares are issued to raise capital for the company, the company usually has remedies in its constitution. If we refer to the Model Constitution, the company has the various remedies on shares that are not paid up: It has a lien on the shares [...]

By |2021-08-30T15:27:17+08:00August 30th, 2021|Questions and Answers|

What is the 2-tier Penalty Framework?

The 2-tier penalty framework applies to the filing of annual returns and annual declarations by Singapore incorporated companies, Variable Capital Companies (VCCs) and Limited Liability Partnerships (LLPs). It was announced on the 30th of December 2020 and takes effect on the 30th of April 2021. Under this 2-tier penalty framework, Singapore-incorporated companies, VCCs and LLPs [...]

By |2021-06-22T13:36:42+08:00June 23rd, 2021|Questions and Answers|

How do I change my SSIC code?

Every Singapore company has at least one SSIC code. SSIC stands for Singapore Standard Industrial Classification. At times, companies may decide to change their business activity. For example, a company may be a physical retail store and because of certain circumstances, they might change to doing something else. Either a wholesaler or an online store. [...]

By |2021-05-28T13:52:27+08:00May 31st, 2021|Questions and Answers|
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