Category Archives: Tax

Withholding Tax liability In Singapore

Withholding Tax liability In Singapore     A payer must withhold tax when certain types of payments (e.g. interest, royalty, services etc) are made to non-resident companies.   When to File and Pay Withholding Tax? The e-filing of withholding tax and payment are due on 15th of the second month from the date of payment…
Read more

Singapore Budget 2018 Part 1 of 3 : Productivity Solutions Grant 2018

Singapore Budget 2018 Part 1 Of 3 : Productivity Solutions Grant 2018     The Government announced a slew of measures to help businesses innovate, including a new Productivity Solutions Grant, and tax deductions on licensing payments for the commercial use of intellectual property, as well as intellectual property registration fees. The Productivity Solutions Grant…
Read more

Summary Of 40 Pointers Of Singapore Budget 2018

Summary Of 40 Pointers Of Singapore Budget 2018     1. Singapore’s GDP grew 3.6% ( vs 2.4% in 2016 ) 2. Singapore must be prepared for 3 major shifts in the coming decade a. First shift is the rise of Asia b. The second shift is the emergence of new technologies such as robotics…
Read more

Approved Donations For Tax Deduction

Approved Donations For Tax Deduction     Only approved donations to Institutions of Public Character (IPC's) qualify for 2.5x deduction and carry forward (up to 5 years) if unutilized. Gifts to staff do not qualify for the enhanced deduction (250%) though they qualify for tax deduction (100%) since they fall within the ambit of staff…
Read more