Tax
You will find insights on various topics by our Mazars tax professionals. For more information, please contact Gene Kwee, our Head of Tax.
Tax considerations for transactions involving digital tokens
As digital tokens gain popularity in Singapore, it is important to be aware of the key tax considerations of digital tokens and their complexities.
Tax incentive for headquarters activities: What’s in it for businesses?
Considering moving your regional or global hub to Singapore? Singapore continues to be an attractive location for many companies looking to springboard into new markets in the region and across the world. The city-state is known for its strategic location, business friendly legislation and significant tax incentives.
Steering Clear of Missing Trader Fraud
Increasing market and regulatory complexities pose a challenge for businesses to fulfill their tax obligations in the day-to-day operations. The COVID-19 crisis has impacted the sourcing of business, leaving companies at higher risk of falling victim to fraudulent activities.
BEPS 2.0: The future impact on businesses in Singapore
Rapid digitalisation and globalisation have led to significant changes in business operations. The digital economy has also uncovered vulnerabilities in the basic rules that have governed global taxation in the past, creating opportunities for profits to be “shifted” to lower taxed jurisdictions and sparking debates surrounding a 'fair’ allocation of taxing rights.
Understanding the Tax Framework for the Singapore Variable Capital Company
A Variable Capital Company (“VCC”) is a legal entity form for Singapore investment funds which can be set up as a single fund or an umbrella fund with 2 or more sub-funds, holding different assets.
Tax Issues relating to Special purpose acquisition company (SPAC)
The Singapore Exchange Securities Trading Limited (SGX-ST) is the first bourse in Asia to allow the listing of special-purpose acquisition companies (SPAC).
GST Treatment in Transfer Pricing (TP) Adjustment
It is common for a business to make TP adjustments to comply with the arm’s length principle for income tax purpose. However, such TP adjustments may have GST impact. The Inland Revenue Authority of Singapore (IRAS) recently updated the e-Tax guide that clarifies the GST treatment for TP adjustments and provided an administrative concession.
Public consultation on the draft Income Tax (Amendment) Bill 2021
The Ministry of Finance has published the draft Income Tax (Amendment) Bill 2021 (the draft Bill) for public consultation. The draft Bill incorporates proposed legislative amendments to the Income Tax Act to effect tax measures announced in the 2021 Budget Statement and changes arising from the periodic review of the tax system.
2021 Singapore Tax Facts
A handy guide of Singapore Tax facts, to keep you up to date of the tax rates and conditions.
Singapore Tax Implications of Funds managed by Singapore Fund Managers
Offshore or onshore funds managed by a Singapore fund manager will cause the gains/income of the funds to be taxable in Singapore even for offshore funds. However, specified income derived by these funds from designated investments [1] can be exempt from Singapore tax provided certain conditions are met under the tax incentive schemes below.