by admin | Feb 17, 2021 | Income Tax, Tech News
Extend and rationalise the withholding tax (“WHT”) exemptions for the financial sector To support Singapore’s value proposition and competitiveness of our financial sector, the following changes will be made:The existing WHT remission for interbank / interbranch...
by admin | Feb 17, 2021 | Income Tax, Tech News
Extend the 250% Tax Deduction for Qualifying Donations The 250% tax deduction to qualifying donations to IPCs and other qualifying recipients will be extended for another 2 years for donations made during the period from 1 January 2022 to 31 December 2023. Eligible...
by admin | Feb 17, 2021 | Goods and Services Tax, Tech News
GST rate Extension of GST to goods imported via air or post that are valued up to (and including) the current GST import relief threshold of S$400 (“low-value goods”) The Government had announced in the 2018 Budget that it would need to increase the GST rate sometime...
by admin | Feb 17, 2021 | Income Tax, Tech News
Extend the Not-for-Profit Organisation (“NPO”) tax incentive To continue attracting Not-for-Profit Organisations (NPOs) to Singapore, the NPO tax incentive which provides tax exemption on the income derived by an approved NPO, will be extended till 31 December 2027....
by admin | Feb 17, 2021 | Company Law, Tech News
Extend the Year of Assessment (“YA”) 2020 enhancements to the carry-back relief scheme The enhancements to the carry-back relief scheme for YA2020 will be extended to apply to qualifying deductions for YA2021, with the same parameters. With this extension, the...
