Category Archives: Taxation

In line With Smart Nation Singapore, the Wage Credit Scheme Will Be Paid via Digital Payment Modes As a business owner, you would always find it hard to retain the right talent. It takes a lot of work to maintain the right talent. This is on top of the workload of making sure business is…

Budget 2020 Speech to Be Delivered in Singapore 18 February   The Budget is Set to Tackle Immediate and Long-term Issues Singapore’s Finance Minister is set to deliver the annual speech for this year – the Budget 2020 speech – on 18 February. The announcement is set to be broadcasted on live television and radio.…

IRAS and DBS Aim to Make Singapore a Cheque-Free Nation by 2025 IRAS and DBS are joining forces to make Singapore a cheque-free nation by the year 2025 as it continues moving closer to its Smart Nation vision. The move to make Singapore a cheque-free nation is in line with the Government’s Smart Nation agenda.…

Taxes in Singapore at $52.4 billion For FY 2018/19   IRAS Pulls in $52.4 Billion in Taxes, a 4.4% Increase From Last Year It’s a good FY 2018/19 in Singapore, as taxman pulls in $52.4 billion in Singapore taxes amid healthy economic expansion. The Inland Revenue Authority of Singapore (IRAS)’s annual report said this year’s…

Have You Filed Your Corporate Tax for Season 2019? It’s corporate tax season again in Singapore. Companies can begin filing their Year of Assessment (YA)’s for 2019 as corporate tax filing season is now open. Companies can submit their YA e-File’s via their CorpPass at Inland Revenue Authority (IRAS)’s myTax Portal. If your company has…

Filing Your Personal Income Tax as Early As 1 March Until 18 April 2019 All taxpayers should file their personal income tax returns beginning as early as 1 March until 18 April 2019, urges the Inland Revenue Authority of Singapore (IRAS). This includes sole-proprietors and partner business entities for the upcoming Year of Assessment 2019.…

3 Key Changes in GST Will Be Reflected From 1 January 2019 3 key changes will be reflected in Singapore’s GST as of 1 January 2019. These key changes involve Customer Accounting, Hand Carried Exports Scheme (HCES), and the GST Registration Rules. Beginning 2019, a business now only needs to monitor their annual taxable turnover.…

Overseas Services To Be Taxed by 2020 Changes to the Goods and Services Tax (Amendment) Bill will allow Singapore’s government to collect GST on overseas services beginning 2020. Users of Netflix for example, which is considered an overseas service, could cost extra. This may be a disadvantage for lower-income groups and further widen the digital…