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Are you tired of seeing a significant portion of your hard-earned income being deducted as personal income tax every year? We know that filing of personal tax in Singapore can be daunting, but did you know that there are several ways to legally reduce your personal income tax burden?
Finance Minister Lawrence Wong announced an increase in the CPF contribution rate for senior workers aged 55 to 70 years old in order to increase their retirement incomes and improve retirement adequacy.
Tax Exemption for New Companies in Singapore Newly-incorporated companies may enjoy tax exemption of up to $125,000. If you have just incorporated a new Singapore company, you’ll be glad to know that it may qualify for corporate tax exemption for the first 3 years of its incorporation. From Year of Assessment 2020 onwards, the tax...
