Singapore: Non-resident individual tax rates to increase from 2017

29 July, 2015

The Inland Revenue Authority (IRAS) announced on 12 June 2015 that tax rates for non-resident individuals will be increased from the year of assessment 2017 to maintain parity between the tax rates of non-resident individuals and the top marginal

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Singapore Updates Rules on Goods and Services Tax

08 April, 2015

The Inland Revenue Authority of Singapore (IRAS) has updated the rules on de-registration for Goods and Services Tax. There have been broad changes to paragraph 7.7 of the rules concerning de-registration. This section concerns the de-registration

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FATCA agreement between US and Singapore entered into force

19 March, 2015

The United States-Singapore Foreign Account Tax Compliance Act (FATCA) Agreement entered into force on 18 March 2015. This was a Model 1 Agreement signed between these two

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Singapore: Budget proposals for 2015

24 February, 2015

The Finance Minister of Singapore presented The Budget for 2015 to Parliament by on 23 February 2015. The proposals include measures regarding: Corporate taxation; Individual taxation; Goods and services tax; and Other taxes and measures. The

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Singapore: Research and Development tax incentives 

16 February, 2015

From 2010 the economic policies of the government of Singapore have focused on reducing reliance on foreign workers and encouraging businesses to invest in improving productivity, skills, and innovation. However, recent information shows that

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France and Singapore Sign Bilateral Double Tax Agreement

18 January, 2015

A revised double tax treaty was signed between Singapore and France on 15 January 2015. In the case of the Singapore, the treaty covers the income tax. In the case of France, the treaty covers the income tax, corporation tax, contributions on

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Singapore and Uruguay sign Income Tax Treaty

16 January, 2015

An Income and Capital Tax Treaty between Singapore and Uruguay was signed on 15th January 2015. Further details of the treaty will be reported

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Singapore: New Revised Transfer Pricing Guidelines for 2015

10 January, 2015

The Inland Revenue Authority of Singapore (IRAS) publishes revised transfer pricing (TP) guidelines on 6 January 2015. The 2015 TP Guidelines are generally in line with the OECD Transfer Pricing Guidelines (2010) as well as some relevant areas of

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GCC: Free Trade Agreement With Singapore Enters Into Force

08 January, 2015

Gulf Cooperation Council's (GCC) Free Trade Agreement (FTA) with Singapore has entered into force on January 01, 2015. The GCC comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates and Singapore jointly announced the

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Singapore: Publishes e-Tax Guide on Transfer Pricing

08 January, 2015

The Inland Revenue Authority of Singapore (IRAS) has releases second edition of Transfer Pricing Guidelines on January 6, 2015. The e-Tax guide is separated into three main parts and it discusses ways to resolve transfer pricing disputes. It also

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Exchange of Information on Taxation between Indonesia and Singapore

20 December, 2014

In a meeting on 15 December 2014, Singapore Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam and Indonesia’s Finance Minister Bambang Brodjonegoro noted the excellent cooperation enjoyed by both the Indonesian and Singapore

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Singapore Modifies Tax Information Exchange Procedure

15 December, 2014

According to a report issued in relation to the international standard for exchange of information for tax purposes (the EOI Standard), Singapore has  modified its tax code to put in place the legislative framework to deal with Group Requests, from

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US And Singapore Sign FATCA Intergovernmental Agreement

09 December, 2014

An intergovernmental agreement (IGA) for the implementation of the Foreign Account Tax Compliance Act (FATCA) has signed between Singapore and the United States, on December 9, 2014. FATCA was enacted by the US Congress in 2010 and took effect on

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Singapore and UAE: amending protocol to DTA signed

02 December, 2014

On 31st October 2014, Singapore signed an amending protocol to the countries' income tax treaty. This is the first amendment of the 1995 treaty. The protocol will enter into force after the countries exchange ratification

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Singapore: Plans for 2015 Budget

01 December, 2014

Singapore's Ministry of Finance (MOF) is looking for ideas and recommendations from individuals and businesses on tax and expenditure policies ahead of the 2015 Budget. The consultation commenced on November 26, 2014, with ideas being accepted

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Singapore:  E-filing Available for all Companies

17 November, 2014

From 2015 the Inland Revenue Authority of Singapore (IRAS) will make e-filing available to all companies onwards. Presently, only small companies can file their tax return electronically. The benefits of e-filing include: instant acknowledgement

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Protocol to treaty between- Singapore and UAE  

04 November, 2014

Singapore and the United Arab Emirates signed an amending protocol to the Singapore - United Arab Emirates Income Tax Treaty (1995) on 31 October 2014, in Singapore. Additional information will be informed

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Kazakhstan-Singapore ITT protocol enters into force

15 September, 2014

The amended protocol to Income Tax treaty (ITT) between Kazakhstan and Singapore has entered into force on September 12, 2014 and it was signed on April 9, 2013. This protocol usually applies from January 1,

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