DTAs should eliminate the resulting double taxation by either having the income: Taxed in only one of the two relevant countries , eg business profits, or Subjected to a lower (preferential) tax rate in one of the two relevant countries as compared to the domestic tax rate.
Conditions to Claim for Tax Relief under Singapore DTAs:
the claimant must be a tax resident in Singapore
the income must be such that it is subject to tax in Singapore
the income must be received or deemed to be received in Singapore, and
the tax has been paid or is payable on the income in the foreign country.
Here, you will find detailed information about Singapore’s Corporate Tax System. Paul Hype Page & Co helps companies with strategic tax planning, tax advisory, and accountancy services.
Singapore Tax Planning
International Tax Planning
IRAS (Singapore’s Tax Authority) governs Singapore’s tax system, helps develop a stronger economy, better environment and a more vibrant economy. All companies, regardless of industry, have a legal duty to pay taxes.
Singapore attracts investments from around the world by reducing its corporate income tax rate and introducing different tax incentives. Singapore has one of the lowest corporate tax rates in the world.
As your company’s Tax agent , Paul Hype Page & Co Chartered Accountant will be fully responsible for the practice of ensuring that these conditions are met. It is important that we be highly qualified and well versed in local regulations and corporate laws, as we are responsible for the upkeep of important company files, tax reports and tax records.