Double Tax Deduction – Internationalisation Scheme

Posted by quals_admin on  6:44 AM

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Category: News
[Singapore] Currently businesses may claim up to 200% tax deduction on qualifying expenditure incurred on a range of qualifying market expansion and investment development activities. Expenditures up to $100,000 per Year of Assessment (“YA”), incurred on four selected activities under the current scheme, without the need for approval from IE Singapore or STB. IE Singapore or STB will continue to approve claims, on a case-by-case basis, made by businesses that require larger funding support in

Innovation Credit Scheme (PIC) lapse and reduced % for Cash Payout

Posted by quals_admin on  6:43 AM

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Category: News
[ Singapore ] Introduced in Budget 2010, and later enhanced in Budgets 2011, 2012, 2013 and 2014, Singapore government introduced Productivity and Innovation Credit Scheme (PIC) scheme that allow companies to enjoy up to 400% tax deduction or allowances or get a 60% cash pay-outs when they invest in the following 6 qualifying activities; Acquisition and Leasing of PIC IT and Automation Equipment Training of Employees Acquisition and Licensing of Intellectual Property Rights (IPR) Registration of

Singapore Personal Tax Rate YA2017

Posted by quals_admin on  6:42 AM

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Category: News
[Singapore] Announced in Budget 2015, taxable income received by Singapore tax residents from calendar year 2016 will be subjected to the new personal income tax rate structure for individual taxpayers which take effect from Year of Assessment (YA) 2017. These changes will only affect individual deriving more than $160,000 chargeable income whereby; the next $40,000 after the first $160,000 derived will be taxed at 18% (previously 17%) and income in excess of $320,000 will be

Singapore Budget 2016 Highlights

Posted by quals_admin on  7:07 PM

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Category: News
[Singapore] 2015’s GDP performance was the weakest performance since 2009 and market outlook for the year 2016 remains gloomy. China’s economy slowdown, low crude oil price, financial market volatility and global economic uncertainties has set private economists forecasting growth in 2016 to be around 1.9-2.2 per cent. Amid the poor economy outlook for the year 2016, the Singapore Budget 2016 announced by Finance Minister Mr Heng Swee Keat on 24 March 2016 has unveiled short-term