Tax & Compliance

Shares of a private limited company in Singapore may be freely transferable. However, the transfer of shares is constrained and must follow a procedure.

Dividend declaration is a must before the distribution. Any person violating Dividend Declaration Rules in Singapore is guilty of a criminal offense.

Financial Year End (FYE) can greatly affect taxation of businesses in Singapore. Learn what should be considered when determining FYE and how to change it.

You can receive a part of wage increases given to local employees under the Singapore Wage Credit Scheme. Find out how much you can claim and how it works.

Tax incentives in Singapore may bring you lower rates or even tax exemption. Different industries have different incentives to be offered. Find out here some of the most common ones.

There are many different grants that cover many stages of development of a tech startup in Singapore, from POC and POV to growing capital and going overseas.

The scope of withholding tax in Singapore is somewhat more limited than that of other jurisdictions: only Singapore-sourced income of a non-resident is levied.

The Singapore corporate tax rate is 17%, applied to both local and foreign companies. But local companies can apply for many schemes to lower their payable tax.

All companies in Singapore are subject to audit requirements. However, if your company is a small one, it can be eligible for an audit exemption in Singapore.

XBRL is a framework for filing records. In Singapore, XBRL has become a standard means of reporting with an aim to streamline communication between parties.

Personal income tax in Singapore for foreigners based on residency status. Tax residents and non-tax residents are taxed at different rates.

Annual filing requirements for companies in Singapore are filing reports to ACRA and IRAS. Still, exemptions can be claimed under some conditions.

The accounting standards of Singapore are seamlessly aligned with IFRS, making it the official, compulsory accounting guideline that companies must adhere to.

Goods and services tax (GST) is levied when goods and services are purchased. In Singapore, the rate of GST is 7% and set to increase to 8% starting January 1st, 2023.