Blockchain Implications on the Shared Ownership of Real Estate
The foundations of the Sharing Economy The term ‘Sharing Economy’ has grown to become an umbrella term for a wide range of non-ownership forms of consumption activities such as swapping, trading, renting and exchanging. The Sharing Economy is typically defined by two key elements. Firstly, an online platform which connects buyers with sellers or a…
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Dev Team
What is the IRAS and What Are Its Primary Roles?
The Inland Revenue Authority of Singapore (IRAS) is the institution in charge of collecting taxes from the nation’s citizens and businesses. Its history can be traced back to 1947 when the Singapore Income Tax Department started its operations as part of that year’s Income Tax Ordinance. Since then, the institution has evolved until it was…
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Tax Dept
Factors to Consider Before Applying for Voluntary GST Registration
By law, Singapore companies must apply for GST registration should they meet the sales threshold set by the Inland Revenue Authority of Singapore (IRAS). Companies that do not meet the criteria for compulsory registration may also apply for voluntary GST registration. Our basic guide can help businesses and companies decide if they should pursue voluntary…
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Tax Dept
Singapore Tax Guide: Preparing for IRAS Income Tax filing YA2020
Companies are required to file annual income tax returns to the Inland Revenue Authority of Singapore (IRAS) and pay income tax at the prevailing Singapore corporate tax rate charged on chargeable income. The final IRAS tax rate will then be levied on the chargeable income which will work out the final tax amount payable to…
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Tax Dept
Singapore Tax Guide: IRAS Corporate Tax Calculator
Individuals (employees or sole proprietors) and companies are required to file annual income tax returns to the Inland Revenue Authority of Singapore (IRAS) and pay income tax at the prevailing Singapore corporate tax rate charged on chargeable income. The final IRAS tax rate will then be levied on the chargeable income which will work out…
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