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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.
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.
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.
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.
Interview The Global Minimum Corporate Tax and What It Means for Singapore
In the OECD’s latest announcement, the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting has released more details on the implementation of the two-pillar solution to address tax challenges arising from the digitalisation of the economy. The Two-Pillar Solution is aimed at ensuring multinational enterprises (MNEs) will be subject to a minimum tax rate of 15%, and will re-allocate profit of the largest and most profitable MNEs to countries worldwide.
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.
Tax OECD's two-pillar solution to address tax challenges arising from digitalisation of the economy
Find out more about the OECD’s statement on a two-pillar solution to address tax challenges arising from digitalisation of the economy
Tax Total tax transparency
Tax affairs used to be a largely private matter between company and tax authority, with very little public disclosure beyond what was available in the report and accounts. Today, the veil of confidentiality is being stripped away.
Tax Keeping track: Tax changes for mobile employees
Across a number of countries, the way internationally mobile employees are taxed is being shaken-up. This follows the G20/OECD-led Base Erosion and Profit Shifting (BEPS) Action Plan recommendations set out over a year ago.
Technology Navigating tax in a digital world
As global attitudes towards tax change, tech companies need to future-proof their tax practices to stand up to enhanced scrutiny. The way in which companies markets and sells its services can also have tax implications. Therefore, one thing is clear – tax matters, and ambitious tech companies need to develop a tax strategy that can keep pace with their growth aspirations.