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Taxation for Foreign Investors in Singapore
A presentation brought to you by Singapore-Accounting.com
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Taxation Requirements in Singapore
• Taxation in Singapore applies both to local and foreign individuals or companies.
• Taxes are levied on a territorial basis and imposed on income derived from the country.
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The Taxable Income in Singapore
• Residents and non-residents are taxed on their income derived from Singapore.
• The income remitted or deemed remitted to Singapore is also taxed. This includes profits, gains, dividends and interest.
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Foreign Investor Taxation in Singapore
• The basis for foreign investor taxation in Singapore is the income derived from the city.
• Income in Singapore includes those gains and profits derived from an activity or a profession as well as gains from employment or pensions.
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The Employer’s Contribution in Singapore
• Foreign employees are not required to make a contribution to the Provident Fund. The employer’s contribution is exempt from taxation in certain cases.
• Investors who decide to hire employees can request accounting services in Singapore for payroll and other related matters.
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Taxes on Dividends in Singapore
• Dividends paid by resident companies in Singapore are exempt from taxation.
• Dividends that have a foreign source are taxable under certain conditions.
• Our accountants in Singapore can give you more details on the tax treatment of dividends.
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Double Tax Treaties Signed by Singapore
• The double taxation agreements concluded by Singapore with various other countries allow for a reduced withholding tax rate and provide a framework for the taxation of profits.
• Singapore has concluded such treaties with China, Malaysia and many other countries.
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Individual Taxation in Singapore
• The taxation system for individuals in Singapore is also based on the income derived from the city. Certain investment income can be exempt from tax.
• The Tax Code is a source for the principles of individual taxation and it also regulates the reporting requirements.
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Taxation Rates in Singapore
• Residents in Singapore are taxed at progressive rates, from 2% to 22%. The income derived from employment for non-residents is taxed at a flat rate.
• Entrepreneurs can benefit from tax incentives, under certain conditions.
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Accounting Services in Singapore
• Foreigners who want to invest in Singapore can choose to work with an accounting firm in Singapore that can provide adequate services.
• You can contact our accountants in Singapore for more details on specific services.
Thank You for Your Attention!
For more information please contact us at:
+ 852 8191 3385 (for international clients)
http://www.singapore-accounting.com/ 11