Singapore Personal Tax for Non-Residents

Singapore Personal Tax for Non-Residents 新加坡非居民个人所得税 Singapore Personal Income Tax for Non-Resident Employees 新加坡非居民雇员个人所得税 The employment income of a non-resident individual in Singapore is charged at the higher of: 新加坡非居民个人的就业收入按以下较高者收取: 15% on the gross amount (without any deduction for personal reliefs and contribution to provident funds); or, 总金额的15%(不扣除个人减免和公积金缴款);或, Corresponding tax under the resident basis. 居民基础下的相应税收。 […]

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Personal Taxes in Singapore (Part 2)

Personal Taxes in Singapore (Part 2) 新加坡个人所得税 Personal Income Tax for Singapore Residents 新加坡居民个人所得税 Who is a tax resident? 谁是税务居民? Different tax rates apply for tax residents and non-residents. You will be treated as a tax resident for a particular Year of Assessment (YA) if you are a: 税务居民和非税务居民适用不同的税率。如果您是: Singaporean; or 新加坡人;或 Singapore Permanent Resident […]

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Personal Taxes in Singapore

Personal Taxes in Singapore 新加坡个人所得税 Tax residency and tax rates 税务居住地和税率 The amount of tax an individual must pay depends on his or her tax residency status. In Singapore, the following individuals are considered to be tax residents of the country: 个人必须缴纳的税额取决于其税务居民身份。在新加坡,下列个人被视为该国的税务居民: Singapore citizens 新加坡公民 Singapore permanent residents 新加坡永久居民 Any foreigner who has worked or […]

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Introduction to Tax Invoice, Receipt, Credit Note or Debit Note

Introduction to Tax Invoice, Receipt, Credit Note or Debit Note 税务发票、收据、贷方票据或借方票据介绍 When to Issue a Tax Invoice 何时开具税务发票 A tax invoice must be issued when your customer is GST registered. Your customer needs to keep this tax invoice as a supporting document to claim input tax on his standard-rated purchases. In general, a tax invoice […]

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Tax Exemption Scheme for New Start-Up Companies

Tax Exemption Scheme for New Start-Up Companies 新成立公司免税计划 The tax exemption scheme for new start-up companies was introduced in Year of Assessment (YA) 2005 to support entrepreneurship and help our local enterprises grow. 为支持创业精神,帮助本地企业成长,新开办公司免税计划于2005年推行。 As other support for companies to build capabilities is being strengthened, it was announced in Budget 2018 that the tax exemption […]

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What You Need to Know about the ECI?

What You Need to Know about the ECI? 关于ECI你需要知道什么? ECI (Estimated Chargeable Income) is the company’s annual turnover minus expenses for the Year of Assessment (YA). 预估应税收入表(ECI)是指该公司的年营业额减去该课税年度的开支。 1. With whom and when must I file the ECI? 我必须向谁及何时提交ECI? First and foremost, you must file the ECI with IRAS, Singapore’s tax authority, within 3 months of […]

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Tax Treatment of Foreign-Sourced Income

Tax Treatment of Foreign-Sourced Income 境外收入的税收处理 In Singapore, taxes are imposed on income earned or accrued in Singapore, as well as foreign-sourced income remitted into Singapore. The Government has received feedback that while a company may qualify for foreign tax credit to offset the taxes payable on remitted foreign-sourced income, it may find the tax […]

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Tax Treatment of Medical Expenses

Tax Treatment of Medical Expenses 医疗费用的税务处理 Medical Expenses 医疗费用 Medical expenses of employees are tax-deductible as long as these are capped at 1% of total employee remuneration accrued for the year. Please refer to Example 1 for an illustration of how the medical expense capping is applied. 雇员的医疗开支可获扣除税款,惟上限为雇员全年累积薪酬的1%。有关医疗费用上限如何适用的说明,请参阅例子1。 However, the cap increases to 2% if the company implements any of the […]

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Deduction for Expenditure Incurred on Renovation or Refurbishment (R&R) Works under Section 14Q

Deduction for Expenditure Incurred on Renovation or Refurbishment (R&R) Works under Section 14Q 第14Q条下的装修与翻新工程开支扣除 Tax deduction granted evenly over 3 consecutive YAs so long as the company continues to carry on that trade for which the  R&R  costs were incurred 只要公司继续进行产生装修与翻新的交易,就可以连续3年平均获得税收减免 Subject to an expenditure cap of $300,000 for every relevant 3 consecutive YAs 每连续三年,有关的开支上限为30万新元 Qualifying expenditure must not affect structure […]

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FRS 116 Leases and its Tax Implications

FRS 116 Leases and its Tax Implications 《财务报告准则第116号》租契及其税务影响 FRS 116 LEASE ACCOUNTING CHANGES 《财务报告准则第116号》租赁会计变更 There is good news for lessors – lessor accounting is substantially unchanged from current accounting. 对于出租人来说,有一个好消息——出租人的会计核算与现行会计核算基本保持不变。 Lessees, on the other hand, bear the brunt of the changes as most leases will now be recognised on their balance sheets as a right-of-use […]

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