by Editor | Nov 21, 2022 | Taxation & GST
There are many potential errors to avoid when preparing a tax return. Corporate taxpayers in Singapore must promptly file their tax returns with the Inland Revenue Authority of Singapore (IRAS). Companies in Singapore are given sufficient time to prepare and file...
by Editor | Nov 16, 2022 | Taxation & GST
Singapore’s Finance Minister stated in his Budget 2022 speech that Singapore’s Goods and Services Tax (GST) rate would be raised from 7% to 8% on January 1, 2023, and from 8% to 9% on January 1, 2024. Businesses and consumers need to consider the hidden...
by Editor | Oct 18, 2022 | Taxation & GST
GST or Goods and Services Tax registered companies in Singapore are required to fulfil a number of responsibilities. Some of the GST-registered businesses’ responsibilities are to charge and account for GST, complete GST filing on time, keep proper records, and...
by Editor | Aug 18, 2022 | Taxation & GST
In Budget 2022, Singapore’s Minister of Finance, Mr Lawrence Wong, announced that the rate for the Goods and Services Tax (GST) will increase in a two-step approach – from 7% to 8% starting January 1, 2023, and from 8% to 9% beginning January 1, 2024. This...
by Editor | May 27, 2022 | Taxation & GST
In Singapore, the Value Added Tax (VAT) takes another form – the Goods and Services Tax (GST). GST is a type of consumption tax, which is levied on almost all supplies of goods and services in the country as well as on the import of foreign goods. There have already...
by Editor | May 5, 2022 | Taxation & GST
Businesses have long made adjustments to their transfer pricing strategies as a way to stay compliant with the arm’s length principle for the purpose of income tax. However, it is important to note that adjustments on transfer pricing could also have implications on...
