Czech Republic-Singapore DTT protocol ratified
The Czech Republic has ratified the amending protocol to the Czech Republic - Singapore Income Tax Treaty (1997) on June 24, 2014 and it was signed on June 26, 2013. Further details will be reported
See MoreOECD: BEPS project update with developments of Asian countries
In order to stop tax avoidance and evasion Asian countries are actively taking part with the Organization for Economic Cooperation and Development (OECD)’s plan. The OECD’s Action Plan is far reaching and will help support local Asian
See MoreKazakhstan – Singapore DTA ratified by Kazakhstan
The upper house of parliament in Kazakhstan has ratified the Double Taxation Agreement (DTA) with Singapore on June 19,
See MoreSingapore agrees with WTO’s Trade Simplification Inventiveness
Under a statement from the Ministry of Trade and Industry Singapore has informed the World Trade Organization (WTO) that it will implement all the operational provisions of the WTO's Agreement on Trade Facilitation (ATF) immediately when the ATF
See MoreSingapore: Extended fund management tax incentives
Singapore’s 2014 budget proposed for the extension and enhancement of a tax incentive program for qualifying funds. Following changes are occurred on tax incentive program: -Lengthen the expiration date of the tax incentive program to 31 March
See MoreSwitzerland and Singapore sign OECD agreement against tax evasion though banking secrecy
Forty seven countries participated in the Declaration on Automatic Exchange of Information in Tax Matters, adopted by the OECD on 6 May 2014. These countries included Switzerland and Singapore, two financial centers that have in the past been
See MoreAzerbaijan – Singapore: Approves DTA
Azerbaijan’s lower house of parliament approved a Protocol to the double taxation agreement (DTA) with Singapore on May 14, 2014. No further details of the Protocol are currently
See MoreSingapore: In Pursuit Of Wider Free Trade Agreements
Singapore’s Minister for Trade and Industry has commented that owing to its network of bilateral and regional free trade agreements (FTAs) Singapore is among the most connected jurisdictions in the world and is therefore a suitable location for
See MoreSingapore- US: Reach FATCA Agreement
The US and Singapore have completed their negotiations in respect of an intergovernmental agreement (IGA) to allow institutions in Singapore to carry out the provisions of the Foreign Account Tax Compliance Act (FATCA). The FATCA requires the IRS to
See MoreSingapore – GST rules affecting funds management industry
The Inland Revenue Authority of Singapore (IRAS) and the Monetary Authority of Singapore have finalized a set of rules relating to the impact of the goods and services tax (GST) on the funds management industry. Rules are laid down to establish the
See MoreSingapore – Finding of tax avoidance arrangement upheld on appeal
In Singapore a decision of the High Court on a tax avoidance arrangement has been upheld by the Court of Appeal. Although the taxpayer had made an arrangement to avoid tax the Court found that the Comptroller had acted beyond the powers bestowed by
See MoreSingaporean DTA with Barbados in Force
The double taxation agreement (DTA) concluded between Singapore and Barbados came into force on April 25, 2014. The agreement which was originally signed in July 2013 provides for a nil withholding tax rate on dividends, a 12 percent withholding
See MoreSingapore Sees More Taxpayers Filing Earlier
According to the Inland Revenue Authority of Singapore (IRAS) a greater number of taxpayers have filed their tax returns early this year. Statistics issued by the IRAS show that 75 percent of taxpayers managed to submit their returns by April 1,
See MoreSingapore – Employer contributions to overseas pension funds
The Inland Revenue Authority of Singapore (IRAS) has issued information on its website explaining amended rules relating to the concessionary tax exemption available for contributions by employers to certain pension schemes. The exemption relates to
See MoreSingapore- issues e-Tax Guide on GST Advance Ruling System
An updated e-Tax Guide has been published by the Inland Revenue Authority of Singapore (IRAS) to give guidance on aspects of the Goods and Services Tax (GST) advance ruling system and on the relevant application procedures in connection with the
See MoreSingapore Arranges First Wage Credit Payments
Singapore is paying out the first tranche of the payments under the Wage Credit Scheme (WCS) by 31 March 2014. Around 75 percent of the payments are due to small and medium enterprises (SMEs). The payments are intended to help new businesses and low
See MoreSingapore – 2014 budget analysis published
Following the Singapore’s 2014 budget statement (presented 21 February 2014), Singapore has prepared an analysis of changes and initiatives in the 2014 budget. This will help taxpayers to digest the changes announced in the budget and allow them
See MoreSingapore: Income tax treatment of limited partnerships
The Inland Revenue Authority of Singapore (IRAS) has published an e-tax guide outlining the tax treatment of limited partnerships (LPs). An LP is a partnership that does not have a separate legal personality. It must have at least one general
See More