Tax Treatment Of Dividends

Foreign-sourced income that is remitted into Singapore in the form of dividend, branch profits and service income to Singapore tax residents are exempt from tax in Singapore, provided the income is from a foreign jurisdiction with a headline tax rate of at least 15% at the time the foreign income is received in Singapore, and…

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Tax Exemption for Foreign-Sourced Income

When Income is Taxable A company is liable to pay tax in Singapore on income that is: a. accrued in or derived from Singapore; or b. received in Singapore from outside of Singapore. Income Received from Abroad Under Section 10(25) of the Income Tax Act, income from outside Singapore is considered received in Singapore when…

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Assisted Self-help Kit (ASK)

ASK is a comprehensive self-assessment compliance package that aids businesses to review the correctness of their GST submissions and discover past GST errors early so as to qualify for IRAS’ Voluntary Disclosure Programme. Purpose of ASK ASK helps businesses, especially those who have just registered for GST or are filing GST for the first time,…

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Bunkering – Specific Business Sector GST

Bunker Fuel Delivered Directly on Board Foreign Bound Vessel You can zero-rate the supply of bunker fuel delivered in Singapore if you deliver or arrange for your supplier to deliver the fuel directly on board a vessel which is bound for a destination outside Singapore i.e. foreign going vessel. To support the zero-rating of the…

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Free Trade Zones

Free Trade Zones (FTZs) are designated areas in Singapore where the payment of duties and taxes (e.g. GST) are suspended when goods arrive in Singapore and are stored in the FTZ. Goods imported and stored in FTZs are considered as goods under customs control. Goods can be imported and sold or re-exported without the need…

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