Lower your tax bill by maximising the tax reliefs available to you, and pick up some tax filing tips for a smooth tax season. Tax season 2019 has begun, and like most Singaporeans, you may once again be required to file your taxes this year. From filing your taxes to utilising the tax reliefs at hand, here’s a quick way to a breezy tax season. 5 minutes: Find out if you are required to file your taxes this year To
Aside from its undeniable cleanliness and thriving economy, foreign investors see Singapore as a country with an attractive corporate and personal tax rates. The Singapore taxing system is widely known for its tax relief measures, absence of capital gains tax, one-tier tax system, and extensive double tax treaties. What keeps this system going? To answer that question, we must dive in to different types of taxes. INDIVIDUAL INCOME TAX As the name suggests, the individual income tax is imposed on
Anyone who takes part in trade and business is chargeable with tax. It is known that tax rates in Singapore are relatively lower compared to other countries in the world, making it more attractive for individuals and corporations to participate in some form of exchange in business. Despite the relatively lower tax rates, no one entirely enjoys the act of filing for taxes! This is why you must employ creative ways to save on your next income tax. Consider these
Income tax filing day are just months away and i know you hate the reminder. Even while i’m here writing this – you would have paid for your dinner that comes with a Good and Services Tax, leaving you 17% of the cost of the meal poorer. You may also have to pay for the property or road tax that are due. For those that smoke and drink, thanks for the additional contribution of excise duties and tobacco tax. And for
When the year is coming to a close, the taxman dress up as Santa Claus and comes knocking on your door. If you have earned at least $22,000 in a year, you will receive a notification from IRAS to file your tax return between February and March. Nobody like to pay tax. Let’s admit it. Fortunately, there is a way to not pay it or reduce the total tax liability payable. No and this guide is not going to teach
