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 | 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 | Employment, Income Tax, Tech News
On or about 16 Feb 2021, Deputy Prime Minister and Minister for Finance, Mr. Heng Swee Keat has in his Budget Statement for the Financial Year 2021 make the following tax changes announcement, The full Budget Speech package is available at the Singapore Budget...
by admin | Feb 3, 2021 | Income Tax, Tech News
On or about 1 Feb 2021, the Inland Revenue Authority of Singapore (IRAS) has published an Income Tax Advance Ruling Summary No. 2/2021 with regards to “Trigger point on the remittance rules under section 10(25) of the Income Tax Act “. The subject was...
by admin | Jan 6, 2021 | Income Tax, Tech News
On or about 4 Jan 2021, the Inland Revenue Authority of Singapore (IRAS) has published an Income Tax Advance Ruling Summary No. 1/2021 with regards to “Related party for Singapore transfer pricing purposes”. The subject was whether Company A (“Co A”) is...
