1. Goods and Services Tax (GST) In February 2022, the Singapore government announced that the GST rate will be raised from 7% to 9% by 2024. This will occur in two stages, with a one-percentage point increase each time on 1 January 2023 and 1 January 2024. Both domestic purchases an...
which is paid to the Singapore tax department. This comes after the 2022 Budget, which announced that the GST hike will take place in two phases – an increase from the current 7% to 8% from 1 January 2023, and a subsequent increase to 9% from 1 Jan...
Annual Rental Fee is subjected to the prevailing Goods and Services Tax (GST) With effect from 1 January 2024, the GST rate will be adjusted from 8% to 9% Any outstanding rental fees not paid by 31 December 2023 will be subjected to 9% GST from 1 January 2024 onwards Safe Deposit Lock...
3. A new tier of additional registration fees (ARF) of 220% for the portion of open market value (OMV) of vehicles in excess of S$80,000 will be introduced. The ARF is a tax imposed when a vehicle is registered in Singapore and is computed based on a percentage of the OMV. Th...
In January 2024, the Supreme Court alsoissueda notice to the Centre in response to a petition filed by the E-gaming Federation challenging the 28% GST levy. Why it Matters The ongoing legal conflict over the 28% GST levy on online real-money gaming is of importance for both the industry...
housebell is a leading property website in Singapore,provides services for rental and buy houses in Singapore.You can check the prices of room rental or buy apartments, hdb and Landeds.Singapore real estate agents provide real property information for ov
The SPAC framework hopes to ensure the interests of the founding shareholders are aligned with the independent shareholders by subjecting the founding shareholders and management to a percentage-based minimum equity participation (MEP) requirement. The MEP is between 2.5 to 3 percent at IPO, depending...
Singapore’s Personal Tax system is a progressive tax system where the tax percentage charge depends on an individual’s taxable income. To put it simply, individuals with higher annual chargeable incomes will pay a higher percentage of tax. ...
Dubai operates within the United Arab Emirates (UAE), which is heavily influenced by Sharia law. Certain Muslim women require male guardian consent to establish a business, resulting in a lower percentage of women-owned businesses, especially in the private sector. This factor can make it challeng...
What is the tax rate for sole proprietorships in Singapore? Get a Quote Ready to incorporate a Singapore Sole Proprietorship Business? About the Author InCorp Content Team InCorp's content team includes talented copywriters from our regional group and globally. We contribute informative, thought lead...