The Government will refine and tighten the current processes of granting permanent residence (PR) and citizenship to foreigners, in response to growing concerns by segments of the Singaporean population over the dramatic increase in the inflow of immigrants. Deputy Prime Minister Wong Kan Seng said the Government has recently reviewed its immigration policies and will [...]
Lynette Khoo once again in her article “Where One Director wears Three Committee Hats” which appeared in the Straits Times May 11th 2010 reviewed the pros and cons of directors sitting in more than one or three committees. According to a study conducted by Singapore Management University, close to one quarter of Singapore listed companies [...]
General Personal tax Information – for Individuals (Foreigners): The amount of income tax that you have to pay depends on your tax residency in Singapore. Top marginal resident tax rate of 20% kicks in at S$320,000 of taxable income. Non-residents are taxed at the flat rate of 15% or the resident rates whichever results in a [...]
If you want to imports goods from overseas to retail in Singapore, you are required to apply for both import permits and
Singapore made its way to the “White List” ( a list of jurisdictions deemed to have substantially implemented OECD standard for transparency and exchange of information) maintained by the Organisation for Economic Co-operation and Development (OECD) after signing a 12th bilateral information sharing agreement with the French Government. The OECD requires a country to seal [...]
Given the current bleak economic conditions and to help ease the credit tightness by enabling Singapore resident companies to repatriate funds from their overseas investments and operations to meet business financing needs in Singapore without
Bloomberg’s Global quarterly survey was polled by over 1,400 Bloomberg subscribers in six continents. New York topped the survey as the hottest place for financial services and it has sustained its supremacy in spite of being severely battered by the credit crisis. Singapore overtook London as the investors’ preferred place for doing business. Singapore was [...]
Steel Forming and Rolling Specialists Pte Ltd (“SFRS”) was convicted of tax evasion by making false entries in its income tax returns for the Years of Assessment 2005 and 2006. The total amount of profits under-reported was $1,356,000. The company’s
Singapore Has the Third Lowest Corporate Tax In APAC The global economic slow down has prompted governments across the world to reassess their tax policies. Invariably the tax authorities have expanded the tax base by introduction of indirect taxes or by increasing the rates. At the least this year’s budget did not include any significant [...]
Indian Banks take honours in Asia Pacific rankings Mumbai: In a world without Lehman, big may no longer be the best as far as banks go. With bigger banks slowing down their loan and deposit growth, mid-size banks are now clawing to the top. HDFC Bank has been spotted as the strongest bank in Asia-Pacific [...]