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Rikvin on Singapore Corporate Tax Filing


									Rikvin on Singapore Corporate Tax Filing

Tax filing is another major concern of Singapore companies. With this, Rikvin,
Singapore’s leading corporate solutions provider offers Singapore corporate tax filing

In order for Rikvin to better relay their services, the firm discussed basic information
about Singapore corporate tax including: the government full support for start up
business, full tax exemptions, tax incentives, stamp duty tax, capital gain tax and
general sales tax.

“To encourage local entrepreneurship, Singapore Government has declared a full
tax exemption for newly incorporated companies. Full tax exemption is granted on
the first S$100,000 of Chargeable Income for qualifying new companies for the
first three years of assessment consecutively,” Rikvin said.

There are certain qualifications in order for start up companies to enjoy full tax
exemptions. Companies will qualify if it is incorporated in Singapore, it is a tax
resident, it has no more than 20 shareholders, all its shareholders are individuals and
if there is at least o ne individual shareholder with a minimum of 10% shareholding.

“All existing companies are not left without any tax incentives. Singapore has
provided a tax break to encourage entrepreneurial growth among the existing
companies. Companies pay only 4.5% tax on their first S$10,000 of Chargeable
Income and 8.5% for the next S$290,000,” Rikvin added.

Rikvin also discussed in the latter part of the presentation the tax incentives given to
foreign companies such as Finance and Treasury Centre Co., Fund Manager, Oil
Trader, Securities Company, Asian Currency Unit and Pioneer/Incentive Co.

About the Publisher:

Rikvin is a Singapore-based consultancy that offers business solutions for both local
and foreign professionals, investors and entrepreneurs. Rikvin’s areas of expertise
include assistance to form a Singapore company, offshore company setup,
accounting, taxation, Singapore work visa and other related corporate services.
Rikvin also provides immigration services for foreign professionals wishing to
relocate to Singapore.

Rikvin PTE LTD
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines: (65) 6438 8887
Fax (65) 6438 2436

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