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Topic: Taxation in Singapore


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In the News (Tue 29 Dec 09)

  
 Incorporate in Singapore - Information on Incorporation of companies in Singapore through IBCF
Singapore's territorial taxation system only seeks to tax income (current corporate rate is 24.5%) sourced in Singapore or foreign source income remitted into Singapore.
Singapore resident companies are commonly used as international holding companies, whereas non-resident companies are often used as trading companies or for portfolio investment holding purposes.
All companies must have their financial records audited annually by an external, "qualified" auditor who is a resident of Singapore.
www.ibcf.com /singapore.html

  
 The Geonomist Volume Eleven Issue One
All three of us plus a vivacious lady from Singapore were the only conferees quoted in the local press.
At the 3rd Annual Global Conference on Environmental Taxation, April 12 — 13, Woodstock, VT, I chaired a panel on reforming the property tax that included Bill Batt, formerly on the staff of the New York legislature, and Tony Vickers, formerly a mapmaker for Her Majesty's army.
Since the pass laws were repealed, there has been an influx of squatters and hawkers into the CBD and immediate environs.
www.progress.org /geonomy/geonom111.htm

  
 Double Taxation Agreements
Where a double taxation agreement does not exist with a particular country, there are provisions within the Irish Taxes Acts which allow unilateral credit relief against Irish tax for tax paid in the other country in respect of certain types of income (e.g.
New treaties with Argentina, Egypt, Kuwait, Malta, Morocco, Singapore, Tunisia, Turkey and Ukraine are being negotiated.
Ireland has comprehensive double taxation agreements in force with 44 countries.
www.revenue.ie /services/tax_info/taxes12.htm

  
 Railway Finance
Cars are expensive in Singapore because many of them are imported and there is a high taxation penalty to control traffic numbers.
Because this is public transit and we want to attract passengers and we want to keep them from polluting the city with their cars, we keep the fares as low as possible so we expect an average income of US$ 0.50 per trip.
In most modern rail transit projects the real income/expenditure ratio is between 5% and 20%.
www.railway-technical.com /finance.html   (3046 words)

  
 Qn 5
The statutory boards under it are the Land Transport Authority, the Maritime and Port Authority of Singapore and the Infocomm Development Authority of Singapore.
Taxation is a compulsory contribution levied by the government on individuals, companies and property primarily as a source of revenue to defray public expenses and to provide services not normally provided by the private sector.
A betterment levy (or development charge) is payable on the grant of a permission which permitted residential development at densities, which were in excess of the proposed average residential densities prescribed in the Master Plan and residential and other developments, which required an alteration to the zoning in the Master Plan.
re-group5.freeservers.com /nan.html   (3046 words)

  
 >International School of Management>ISM : MBA DBA PhD Programs International Business School
Thomas Delisi holds a law degree from Vanderbilt University as well as an L.M.M. in taxation from NYU and an MBA in finance from the Wharton School.
Dr. Alan Moorer is a communications consultant, professional writer/editor, and teacher (International, Intercultural, Crisis and Professional Communication at the Graduate School of International Studies, University of Denver).
Professor Rogers is also director of Computer Resources International SA (Luxembourg), International Operational Studies Ltd, which is located in Belgium, the UK, Luxembourg and the US, and he currently advises companies on developing their international activities.
www.ism.edu /p_faculty.php   (3695 words)

  
 IGCS - Politics (China WWW VL - Internet Guide for Chinese Studies)
Among the sites analyzed were those of executive offices, legislative offices, judicial offices, Cabinet offices, and major agencies serving crucial functions of government, such as health, human services, taxation, education, interior, economic development, administration, natural resources, foreign affairs, foreign investment, transportation, military, tourism, and business regulation.
Self Description: "[...]The Maritime and Port Authority of Singapore (MPA) is a statutory board which was formed on 2 Feb 96, by the MPA Act (1996).
"The National Heritage Board (NHB) which was formed on 1 August 1993 comprises the National Museum and the National Archives of Singapore and Oral History Centre.
sun.sino.uni-heidelberg.de /igcs/igpol.htm   (7149 words)

  
 tax investment
DJ SINGAPORE PRESS: Banks Proposal Could Boost Stock Market SINGAPORE (Dow Jones)--A Singapore Exchange Ltd. (S68.SG) proposal for banks to trade shares on behalf of customers without going through a broker could attract more investors to the local stock market, the Straits Times reported Monday.
DJ NZ Govt's New Investment Tax Rules To Cost NZ$110M/Year WELLINGTON (Dow Jones)--The New Zealand government Tuesday announced details of its proposed changes to taxation on investment, which are expected to cost state coffers NZ$110 million a year.
Stocks that were moving substantially or trading heavily Monday on the New York Stock Exchange and Nasdaq Stock Market.
www.investonwhat.com /tax-investment.php   (590 words)

  
 Raffles, Sir Thomas Stamford Bingley on Encyclopedia.com
Raffles also reorganized the administration, launched reforms in taxation, abolished forced labor and feudal dues, and provided security of land tenure.
He secured the transfer (1819) of Singapore to the East India Company and initiated policies that contributed greatly to Singapore's vital role in the lucrative China trade.
Raffles was outstanding for his liberal attitude toward peoples under colonial rule, his rigorous suppression of the slave trade, and his zeal in collecting historical and scientific information.
www.encyclopedia.com /html/R/Raffles.asp   (590 words)

  
 Economics : Staff
"Taxation for environmental efficiency and issues of income distribution", National University of Singapore and University of Tokyo Joint Workshop, presented at National University of Singapore, 26-27 November, 2002 (jointly with Dodo Thampapillai).
"Economic Crisis and Higher Education in Singapore", UNESCO Policy Forum on Economic Crisis and Higher Education in East Asia, 29-31 January, 2001, Malaysia (with G Shantakumar).
"Impact of the Economic Crisis on Higher Education in Singapore", in Impact of the Economic Crisis on Higher Education in East Asia: Country Experiences, (ed.) N.V. Varghese, International Institute of Educational Planning, UNESCO: Paris, 2002, 157-181 (jointly with G. Shantakumar).
www.econ.mq.edu.au /staff/pmukhopadhaya.htm   (1214 words)

  
 Channelnewsasia.com
To eliminate double taxation, Lithuania will allow tax paid in Singapore as a credit against Lithuania tax on income arising in Singapore.
Through the provisions of the Agreement, double taxation which may arise from the cross-border flows of income between the two countries will be eliminated.
The taxing rights of each country on all forms of income are also specified in the accord.
www.channelnewsasia.com /stories/singaporebusinessnews/view/92450/1/.html   (408 words)

  
 Offshore-Onshore - Singapore - Fiscal Incentives (Special Economic Sectors)
Companies engaged in the offshore leasing of plant and machinery are exempt from any further taxation on the shortfall in so far as that shortfall is caused by the concessionary status granted to the company.
Companies engaged in international aircraft leasing are exempt from any further taxation on the shortfall in so far as that shortfall is caused by the concessionary status granted to the company.
Companies engaged in international consultancy services are exempt from any further taxation on the shortfall in so far as that shortfall is caused by the concessionary status granted to the company.
www.lowtax.net /lowtax/html/offon/singapore/sinspec.html   (408 words)

  
 New 5% Witholding Tax Proposed Under India/Singapore DTAA Review, by Lorys Charalambous, Tax-News.com, Cyprus
The revenue authorities of India and Singapore are meeting in New Delhi this week for the first round of negotiations concerning the review of the bilateral double taxation avoidance agreement between the two nations.
New 5% Witholding Tax Proposed Under India/Singapore DTAA Review, by Lorys Charalambous, Tax-News.com, Cyprus
New 5% Witholding Tax Proposed Under India/Singapore DTAA Review
www.tax-news.com /asp/story/story_print.asp?storyname=13350   (408 words)

  
 Open Letter to Myanmar Government to Stop Double Taxation Petition
And I also found out that there is an “Agreement between Singapore and Myanmar governments for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income” signed by Lim Hng Kiang (for Government of Singapore) and Khin Maung Thein (for Government of Myanmar) on 23 February 1999.
The Open Letter to Myanmar Government to Stop Double Taxation Petition to Myanmar & Singapore Government & Media was created by and written by Alvin Thiha.
Thank you for your time and hope this matter will be sorted out soon.
www.petitiononline.com /burmdt04/petition.html   (586 words)

  
 Chicago Real Estate Litigation Lawyers
Horowitz and Weinstein is a Chicago Real Estate Law firm that focuses on Taxation Law, International Taxation, Estate Planning, Elder Care, international law and issues on Internet Law...
International business law firm with offices in Chicago, Dallas, Los Angeles, New York, Washington DC, London, Singapore and Tokyo.
The Chicago law firm is in active negotiations to merge with Reed Smith, a Pittsburgh-based firm of nearly 1,000 lawyers, Wildman partners said.
www.chicagorealestatednld.com /chicagorealestatelitigationlawyers.html   (586 words)

  
 Growing old: going broke?
The three main areas of policy concem to be addressed are financial, healthcare and taxation, said Tony Tan Keng.
The Singapore govemment believes that government and community should share responsibility for savings and healthcare.
Donna E. Shalala, Secretary of Health and Human Services of the USA Tony Tan Keng Yam, Deputy Prime Minister and Minister for Defence of Singapore
www.pensionreform.org /news/davos2.html   (586 words)

  
 Scoop: Broadcasting Is At End Of International Spectrum
The only country that comes close is Singapore, half a percent higher than New Zealand.
"In New Zealand we currently have a single operational mechanism, the Public Broadcasting Fee, which is about to be replaced by another single operational mechanism - funding NZ On Air from general taxation.
A survey of international public broadcasting practices shows that New Zealand is at the end of the spectrum, in terms of regulation and levels of local content.
www.scoop.co.nz /stories/GE9907/S00001.htm   (1391 words)

  
 low.htm
Singapore's GST is part of a structural tax reform intended to shift the tax burden to indirect taxation.
Services from rentals and sales of residential land and buildings are exempted from the GST, and tax credit claims for those on commercial and industrial transactions are allowed.
Income tax is a direct tax impinging directly on the tax unit; the individual or the firm on which the tax is levied pays the tax as legislated.
www.hku.hk /hkcer/articles/v65/low.htm   (1391 words)

  
 Singapore People's Action Party - Flags, Maps, Economy, Geography, Climate, Natural Resources, Current Issues, International Agreements, Population, Social Statistics, Political System
A four-year development plan, launched under Minister of Finance Goh Keng Swee in 1961, provided foreign and local investors with such incentives as low taxation rates for export-oriented manufactures, tax holidays for pioneer industries, and temporary protective tariffs against imports.
The British approved of the Singapore government's tough action toward the agitators, and when Lim Yew Hock led a delegation to London for a second round of constitutional talks in March 1957, the Colonial Office proposed a compromise on the internal security issue.
Present at the inauguration of the PAP were a number of noted communists and procommunists, including Fong Swee Suan and Devan Nair, who both joined the new party.
workmall.com /wfb2001/singapore/singapore_history_peoples_action_party.html   (2703 words)

  
 Offshore-Onshore - Singapore - Singaporean Holding Companies
Thus the amount of corporate income tax payable on dividends received by a Singaporean holding company from a foreign subsidiary depends largely on whether or not the subsidiary is resident in a jurisdiction with which Singapore has signed a double taxation treaty.
Foreign Tax Credits: Where the dividends have flowed from a foreign subsidiary to a Singaporean holding company and the foreign tax credits exceed the Singaporean corporate income tax liability no further taxes are payable in Singapore on dividends remitted to the foreign parent corporation.
A Danish holding company is exempt from any capital gains on the profitable sale of shares in a foreign subsidiary provided that it has held at least 25% of the foreign subsidiary shares for a minimum period of 3 years prior to the disposal and provided the foreign subsidiary is not deemed a "financial company".
www.lowtax.net /lowtax/html/offon/singapore/sinhold.html   (1935 words)

  
 The International Law Firm of Fulbright & Jaworski - Hong Kong
Fulbright and Jaworski's Hong Kong office handles a broad range of international commercial, transactional, securities, investment, finance, taxation, trade and regulatory matters.
Our work in the Asia-Pacific region has included projects in Hong Kong, China, Macau, Taiwan, Indonesia, Singapore, Malaysia, Papua New Guinea, the Philippines, Thailand, Vietnam, Myanmar, India, Pakistan, Sri Lanka, Japan, Korea, Bangladesh, Nepal, Australia, New Zealand, and other countries.
Houston, New York, Washington D.C., Austin, Dallas, Los Angeles, Minneapolis, San Antonio, Hong Kong, London and Munich.
www.fulbright.com /index.cfm?fuseaction=home.293   (1935 words)

  
 Whistle Stopper Political Forums - Snap election in Thailand
The recent sale of the national telecoms corporation Shin Corp to Temasek Holdings of Singapore have caused tremendous public backlash against PM Thaksin as the deal was arranged in a manner that allowed his family to sell their stake in the company for hefty sums of cash while avoiding taxation.
It is in the midst of this Anti-Thaksin wave that the embattled PM have called to a snap election in order to secure his mandate to rule despite winning an unprecedented landslide victory in the last election.
I don't think that the motive behind the snap election is to catch the opposition offguard.
www.whistlestopper.com /forum/showthread.php?t=41668&goto=newpost   (496 words)

  
 Transfer Pricing:Topic
To determine tax liability in each jurisdiction, the right price (arm's length price) has to be applied, the OECD has issued guidelines on this principle to avoid double taxation.
The Roundtable was attended by senior officials from OECD member countries as well as from China, South Africa and Singapore and by a wide panel of private sector representatives.
An OECD peer review of Mexico's transfer pricing legislation and practices has concluded with an overall positive appraisal of the systems in place and the observation that many lessons learned in Mexico may be relevant for other economies with similar economic structures.
www.oecd.org /topic/0,2686,en_2649_33753_1_1_1_1_37427,00.html   (409 words)

  
 Electronic Road Pricing - Wikipedia, the free encyclopedia
The Electronic Road Pricing (ERP, Simplified Chinese: 电子道路收费系统) scheme is an electronic toll collection scheme adopted in Singapore to manage traffic by road pricing, and as a usage-based taxation mechanism to complement the purchase-based Certificate of Entitlement system.
Road users pointed out that the implementation of an ERP gantry along any road simply moves the traffic somewhere else, potentially causing traffic bottlenecks along smaller roads.
The LTA, sensing the displeasure, attempted to alleviate the situation by widening the road between the Pan Island Expressway (PIE) and Braddell Road in 2003, in response to public feedback which frequently attributed the jams to this congested stretch.
en.wikipedia.org /wiki/Electronic_Road_Pricing   (929 words)

  
 Energy, Utilities and Mining: Asia Pacific EU&M Investment Guide
The Guide encompasses not only general information about the political, legal and financial markets of twelve core countries within the Asia-Pacific region, but also contains specific details about their respective regulatory and supervision framework, financial reporting standards and taxation guidelines specific to the energy sector.
The 12 countries covered are: Australia; Brunei; China; India; Indonesia; Malaysia; New Zealand; Philippines; Singapore; South Korea; Thailand; and Viet Nam
In an ever-changing landscape, success largely depends on gaining a solid comprehension of the forces behind transformations and the frameworks, in which these elements operate.
www.pwcglobal.com /extweb/pwcpublications.nsf/docid/68598A8FAAEF9A3785256FA2005216B7   (929 words)

  
 Fuel Tax Inquiry - Background Papers - Fuel Taxation International Experience
Singapore has a highly developed system of charging for road use in the central business district and arterial roads and expressways.
Amounts, which vary with time of day, the type of vehicle and expected levels of traffic are electronically deducted from an in-vehicle cash card as they pass under overhead gantries.
New Zealand has an elaborate Road User Charge system based on vehicle type, weight, and distance travelled for all diesel vehicles and larger petrol vehicles.
fueltaxinquiry.treasury.gov.au /content/backgnd/003.asp   (929 words)

  
 Hong Kong Expat Business Directory
Regulated by the Securities and Futures Commission in Hong Kong, its investment advisory service is complemented by the taxation and specialist executor and trustee divisions which, since 1898, have enabled the group to help over 250,000 British expatriates to reduce their liabilities to UK tax and maximise their wealth.
We have offices in the British Virgin Islands, the Cook Islands, Hong Kong, Samoa and Singapore.
With a decade of experience in Hong Kong (ex-big 5), no matter is too small and fees based on each matter (with quotes approved in advance).
www.asiaxpat.com.hk /directory.htm   (929 words)

  
 Railway Finance
Cars are expensive in Singapore because many of them are imported and there is a high taxation penalty to control traffic numbers.
Cars are expensive to build in Europe but cheap to build in India because of the differences in labour costs and lower engineering requirements.
Cars are cheap in the US because there is a huge market and a good economy.
www.railway-technical.com /finance.html   (3046 words)

  
 Channelnewsasia.com
Diageo has just set up its regional headquarters in Singapore and it is expecting to work closely with like companies like Asia Pacific Breweries to build on the manufacturing facilities.
Said John Pollaers, managing director (Asia) at Diageo, "A lot of countries tax alcohol based on price, which then means the better the quality, the more the taxation, which does not make sense from the social point of view.
Diageo also has other big names like Guinness, Smirnoff and Bailey's under its belt.
www.channelnewsasia.com /stories/singaporebusinessnews/view/189774/1/.html   (499 words)

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