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Budget 2023 Key changes announced for individuals
Following the announcement of Budget 2023, we discuss the outcomes and tax changes announced in this year’s Budget that affect individuals.
14 Feb 2023
Budget 2023 Key changes announced for businesses
Following the announcement of Budget 2023, we discuss the outcomes and tax changes announced in this year’s Budget that affect businesses.
14 Feb 2023
Budget 2023 Key changes announced for philanthropy, property and vehicles
Following the announcement of Budget 2023, we discuss the outcomes and tax changes announced in this year’s Budget.
14 Feb 2023
Tax facts Property Tax in Singapore
Property tax is a tax levied on property ownership. The annual tax payable is a percentage of the annual value of the property, which is the gross amount for which the property is expected to be let out in that year.
16 Jan 2023
Tax facts Withholding tax in Singapore
Withholding tax is generally a final tax where the income in question is not derived from the provision of services.
13 Jan 2023
Tax facts Corporate income tax in Singapore
Under the modified territorial basis of taxation, companies in Singapore are subject to tax on income accruing in or derived from Singapore and foreign income received or deemed received in Singapore from outside Singapore.
13 Jan 2023
Corporate Tax Tax Risk Management & Control Framework for Corporate Income Tax
The Tax Risk Management & Control Framework for Corporate Income Tax, also known as CTRM, is meant for companies to voluntarily review their internal controls and risk management processes.
4 min read | 25 Jul 2022
Tax Tax Governance Framework (TGF)
On 17 February 2022, the IRAS introduced the Tax Governance Framework ("TGF"), alongside the Tax Risk Management & Control Framework for Corporate Income Tax (“CTRM”) for companies to demonstrate their good tax governance policy for corporate income tax, GST and withholding taxes. It is a voluntary compliance initiative that a company may participate in to demonstrate that it has good tax governance and tax risks management
2 min read | 25 Jul 2022
Digital tokens The meaning of life, tax and the digital universe - an APAC perspective
Digital tokens, such as cryptocurrencies and NFTs, have established themselves as a new asset class in less than a decade. In this webinar, a panel of Grant Thornton tax Partners from Singapore, Australia, Hong Kong and India will discuss the impact digital tokens are having on tax (and vice versa) in their jurisdictions, and try to help decode some of the fundamental tax and accounting issues for players operating in this new universe.
28 Jun 2022
Funds Stricter criteria for family offices applying for tax incentives 13O and 13U
The Monetary Authority of Singapore (MAS) announced that single family offices will have to meet stricter criteria in order to qualify for the tax exemptions under sections 13O and 13U of the Income Tax Act (ITA). These new criteria will take effect for applications received from 18 April 2022 onwards.
8 min read | 22 Apr 2022
Webinar Webinar: Singapore Budget 2022 and Beyond
Following the announcement of Budget 2022, our experts discuss the outcomes and tax changes announced in this year’s Budget and look beyond Budget 2022.
22 Feb 2022
Tax How Singapore could respond to the Pillar Two model rules for domestic implementation of 15% global minimum tax
In this article, we summarise Pillar Two model rules that were released by the Organisation for Economic Co-operation and Development (OECD) on 20 December 2021. This is a continuation of the detailed implementation plan under the two-pillar solution to address the tax challenges arising from the digitalisation of the global economy in October 2021. We discuss how the rules may impact Singapore.
6 min read | 25 Jan 2022
Tax The OECD's detailed implementation plan and what it may mean for Singapore
The OECD/G20 Inclusive Framework announced more details in the implementation of the two-pillar solution to address the tax challenges arising from the digitalisation of the economy. In this article, we explain what's been agreed to as part of the implementation plan and how each pillar may impact Singapore.
4 min read | 25 Oct 2021
Tax Updates to the Avoidance of Double Tax Agreement between Singapore and Indonesia
In this piece, we highlight the new articles introduced in the updated Avoidance of the Double Tax Agreement (DTA) between Singapore and Indonesia. These updates will be effective from 1 January 2022.
5 min read | 15 Sep 2021
Indirect Tax Update on GST treatment for supply of media sales
The Inland Revenue Authority of Singapore (IRAS) has underlined how the GST treatment of media sales will change with effect from 1 January 2022. The changes are outlined in the e-Tax guide published on 11 June 2021, 'GST: Guide for Advertising Industry (Third Edition)'.
3 min read | 06 Aug 2021
Webinar Webinar: Working internationally – are there any tax pitfalls?
With “working from anywhere” becoming more commonplace, this two-part webinar series breaks down potential corporate and personal tax risks. From permanent establishments to where your employees need to pay tax, find out how you can mitigate the risk or limit their impact.
29 Jul 2021