There are two broad categories of exempt supply. They include the sale and lease of residential properties and financial services specified in
Frequently Asked Questions : Taxation & Accounting
What is an Out-of-Scope Supply?
An Out-of-Scope Supply is a supply which is not made in Singapore (for example, sale of goods from China to India where the goods do not enter
What tax benefits does the Singapore Government give to a newly set up Company?
To encourage local entrepreneurship, Singapore Government has declared a full tax exemption for newly incorporated companies: NEW START UP
What business expenses are deductible?
You can claim deduction for expenses that are incurred in the production of income. It must also be revenue in nature; the deduction must not be
What are the personal taxes that I will have to pay based on my declared salary?
As a Singapore Permanent Resident (SPR), you will be considered a tax resident. You may refer to the Rikvin resource page for Singapore Personal Taxes
What are the conditions for voluntary Goods & Services Tax (GST) registration?
Voluntary Goods & Services Tax (GST) registration is allowed if: Your annual turnover is not more than $1 million; You only supply goods
What are the common mistakes made by corporate taxpayers?
Understatement of income Businesses should properly account for all the earnings and invoices issued for goods sold or services rendered. Omission
What are the capital gain tax rates in Singapore?
There is no tax in Singapore on Capital Gain.
I am engaged by a foreign consulting firm to render my services in Singapore. Will my consultation fees be taxed in Singapore if the fees are paid to me outside Singapore?
Yes. You are liable to pay Singapore tax for the professional services rendered in Singapore. It does not matter where you are paid.
If I am liable to register for Goods & Services Tax (GST), can I choose the date that I want to commence registration?
Once you are liable to register, you are required to inform the Comptroller for Goods & Services Tax (GST) within 30 days from the date your
I am invited by a government body/Ministry in Singapore to conduct seminars/workshops in Singapore. Is my income taxable?
You will be taxed on the income derived from Singapore unless it is exempted from tax.
Is a Singapore Branch Office eligible for tax incentives?
A Singapore Branch Office is considered a non-resident company for tax purposes. Hence, it is not eligible for tax incentives. This is why most
