Articles exploring tax issues to help you gain trust and stay ahead, enabling you to manage your tax transparently and ethically.
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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.
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.
Individuals (resident and non-resident), are only liable to income tax in respect of income accruing in or derived from Singapore. The tax year is the calendar year.
Transfer pricing regulations by the Organisation for Economic Cooperation and Development (OECD) and Singapore have specific provisions to talk about intercompany service transactions. This article delves into what Singapore taxpayers need to know about service transactions under these regulations and highlights typical mistakes businesses may make.
OECD has released key transfer pricing guidance on Pillar 1 - Amount B report. With the evolving global tax landscape, it is vital for business to understand these initiatives to take appropriate actions to strengthen tax governance and mitigate tax risks.
Following the announcement of Budget 2023, we discuss the outcomes and tax changes announced in this year’s Budget that affect individuals.
Following the announcement of Budget 2023, we discuss the outcomes and tax changes announced in this year’s Budget that affect businesses.
Following the announcement of Budget 2023, we discuss the outcomes and tax changes announced in this year’s Budget.
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.
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
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.
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.
Off the back of the Singapore Budget announcement by Finance Minister and Prime Minister Mr Lawrence Wong on 18 February 2025, experts from Grant Thornton Singapore share their thoughts.
