The corporate tax filing deadline is different from the personal income tax filing deadline. The corporate tax filing deadline for Year of Assessment (YA) 2020 is 15th December and the deadline for YA2021 onwards is 30th November. Do note that dormant companies are required to file their Corporate Income Tax Returns unless it has been [...]
This is a very common question that many company owners grapple with. However, the Income Tax Act clearly covers this in Section 10(25). (25) It is hereby declared for the avoidance of doubt that the amounts described in the following paragraphs shall be income received in Singapore from outside Singapore whether or not the source from [...]
Singapore is a very open economy and we do welcome individuals from all over the world to open companies in Singapore to do legitimate business. Foreigners can fully own a Singapore company. A foreigner can also apply for a valid working pass to become the local director of the Singapore company. Being open and pro-business [...]
Very often people do get confused by social enterprises and charities. Even though they may seem similar in nature, there are clear and obvious distinctions. For a non-profit organisation to be called a charity, it has to apply for charity status. For the sake of this article, we will use charity and non-profit organisations to [...]
According to the Intellectual Property Office of Singapore (IPOS), A trademark is a sign that you can use to distinguish your business’ goods or services from those of other traders. It can be represented graphically in the form of your company’s name or logo. A trademark can add value to your business. Using a trademark [...]
Living in Singapore does have its perks and there are many people who want to come to Singapore and apply for Singapore permanent residency and even eventually obtain Singapore citizenship. Singapore has very low taxes, it is one of the safest places to live in the world, it is a country with a very high [...]
If you are a local or a foreigner looking to incorporate a company in Singapore, you may engage an ACRA registered filing agent like us. Firstly, you will need to fill in the related incorporation documents which can be found at this link: https://www.singaporesecretaryservices.com/company-registration-documents/ You will need the following forms: Incorporation of New Company Form [...]
The Estimated Chargeable Income (ECI) is an estimate of the company's taxable income for a certain Year of Assessment (YA). The taxable income is after deducting tax-allowable expenses. In simple terms, it is the total revenue less allowable expenses which is the taxable profit of the company. Due to the tax filing season for companies, [...]
A typical company conducts business and hires staff to produce goods and services and sells these goods and services to receive revenue. An investment holding company is a company that does not conduct any actual business but instead invests in assets. The investment holding company can invest in property, equities or even things like wine [...]
Singapore, along with Hong Kong and perhaps Shanghai, is a leading asset management hub for institutional investors and fund managers looking to tap into the opportunities in the region. Singapore is increasingly pulling ahead as the premier place for fund management especially with the introduction of the Variable Capital Companies Act. We explained about the [...]