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 services.

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 businesssolutions for both local and foreign professionals, investors and entrepreneurs. Rikvin’s areasof 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 PTELTD 20 Cecil Street, #14-01, Equity Plaza, Singapore 049705 Main Lines: (65) 6438 8887 Fax (65) 6438 2436 http://www.rikvin.com