News release. Ernst & Young s reactions to Singapore Budget Overall:
|
|
- Garry Garrison
- 5 years ago
- Views:
Transcription
1 News release Ernst & Young s reactions to Singapore Budget 2013 Overall: Adrian Ball, Head of Tax Services, Ernst & Young Solutions LLP says: The Government is sending a clear message that it is focusing on those industries where Singapore is, and can be, competitive. It is not offering sweeteners to defray costs. Adrian Ball, Head of Tax Services, Ernst & Young Solutions LLP says: Survival of the fittest! This is a Darwinian budget for businesses in Singapore. Poh Bee Tin, Partner, Tax Services, Ernst & Young Solutions LLP says: A quick roll call of the winners: SMEs, and lower and middle income Singaporeans. Russell Aubrey, Partner, Transaction Tax, Ernst & Young Solutions LLP says: The Minister emphasised the importance of productivity growth, and made the link between this and social policy several times. In essence, higher productivity is the only sustainable way to create enduring growth and jobs, and increase the real wages of Singaporeans. Cheong Choy Wai, Partner, Tax Services, Ernst & Young Solutions LLP says: The Budget has shown to be responsive to feedback and really speaks to Singaporeans. Mildred Tan, Managing Director, Ernst & Young Advisory Pte Ltd says: Companies are now encouraged to redesign jobs and consider introducing flexi-work practices and smart work place initiatives. With the fibre optics network in place, Singapore is now better-placed to support a more mobile work force. Adrian Ball, Head of Tax Services, Ernst & Young Solutions LLP says: Budget 2013 is centered on transforming our SMEs to make a quantum leap. The fiscal schemes to boost SME s competiveness are there for the taking.
2 2 Cheong Choy Wai, Partner, Tax Services, Ernst & Young Solutions LLP says: Budget 2013 seeks to strike a fine balance between pursuing economic growth and social inclusiveness. Three-year transition plan Wage credit scheme Tan Bin Eng, Partner, Business Incentives Advisory, Ernst & Young Solutions LLP says: The Wage Credit Scheme is a generous move by the government to help SMEs cope with wage increases during what is anticipated to be a painful transition period. PIC bonus Cheong Choy Wai, Partner, Tax Services, Ernst & Young Solutions LLP says: Introduction of the PIC bonus is encouraging. Hopefully this will be combined with a simplified process so that small businesses will benefit from it. Corporate income tax rebate Amy Ang, Partner, Tax Services Ernst & Young Solutions LLP says: The corporate tax rebate provides short term measure to ease the transition phase. But with more spending expected, coupled with grants and incentives, the benefit may only be felt if the rebate is extended beyond the three-year transition. Amy Ang, Partner, Tax Services Ernst & Young Solutions LLP says: For loss making companies, a cash grant in lieu of the corporate tax rebate will be the better pill. Tightening of foreign worker policies Grahame Wright, Partner, Human Capital, Ernst & Young Solutions LLP says: The further tightening of foreign labor policies, coupled with a more liberalised Productivity and Innovation Credit scheme, will push and pull companies to invest in driving higher productivity. Strengthening productivity incentives
3 3 Land Productivity Grant Mildred Tan, Managing Director, Ernst & Young Advisory Pte Ltd says: Due to the tight labour market and cost of doing of business in Singapore, the government is now providing support for companies to consolidate and reinvent themselves. This grant will be useful in helping companies who may need to relocate some operations abroad. Tan Bin Eng, Partner, Business Incentives Advisory, Ernst & Young Solutions LLP says: The land productivity grant has the potential to be a game-changer. It is a strong signal of the government's acknowledgment that SMEs will need to examine all options, including relocation of some activities offshore, to ensure survival in this highly competitive global environment. Strengthening the SME sector Poh Bee Tin, Partner, Tax Services, Ernst & Young Solutions LLP says: It would be ideal if the government could also consider helping SMEs that are already pro actively helping themselves by increasing the PIC cash payout limits beyond the existing S$60,000. Mildred Tan, Managing Director, Ernst & Young Advisory Pte Ltd says: Public and private sector teaming and collaboration, and linking SMEs to public research institutions and technology, will help companies to collaborate and co-innovate. By taking a sectoral approach, this will enable industrial transformation that will far outweigh the benefits of productivity gains of any one company. Promoting industry Amy Ang, Partner, Tax Services Ernst & Young Solutions LLP says: By embarking on an industryfocused partnership, the Government has taken a proactive move to further boost Singapore s long-term competitiveness through achieving targeted results rather than implementing a one-size fits all approach. Cheong Choy Wai, Partner, Tax Services, Ernst & Young Solutions LLP says: As Singapore attracts foreign investments and addresses investors' concerns with rising business costs, providing assistance to relocate offshore some of the activities is welcomed.
4 4 Building an inclusive society Education Amy Ang, Partner, Tax Services Ernst & Young Solutions LLP says: Providing equal access to quality education is key to enhancing social mobility and building an inclusive society. This is a defensive mechanism against a widening income gap. An educated and quality workforce will enhance Singapore s competitiveness in the long run. Personal income tax rebate Wu Soo Mee, Partner, Human Capital, Ernst & Young Solutions LLP says: The granting of 30% and 50% tax rebate is a pleasant surprise as there was no such rebate granted last year when the new reduced tax structure was first implemented. GST voucher Yeo Kai Eng, Partner, GST Services, Ernst & Young Solutions LLP says: GST voucher, introduced last year, is a simple, effective and permanent way to provide direct GST relief to help lower income families without the need to overhaul the our existing GST system. The relief can be further enhanced, as and when required, as seen in the one-off doubling of the usual amount for this year. Yeo Kai Eng, Partner, GST Services, Ernst & Young Solutions LLP says: The permanent GST voucher, introduced last year, allows the government to provide direct GST relief to lower income families without modifying the existing GST system. It is also flexible as seen in the one-off doubling of the usual amount for this year. Yeo Kai Eng, Partner, GST Services, Ernst & Young Solutions LLP says: The beauty of the permanent GST voucher - the government can increase the GST relief for lower income families as and when required, as seen in the one-off doubling of the usual amount as announced in this Budget. Personal tax
5 5 Wu Soo Mee, Partner, Human Capital, Ernst & Young Solutions LLP says: The removal of the concessionary tax treatment for housing and hotel accommodation will remove opportunities to reduce tax liability by receiving housing benefit in kind. Wu Soo Mee, Partner, Human Capital, Ernst & Young Solutions LLP says: The removal of tax concessionary treatment for housing benefits will mean that high-earning expatriate employees will no longer be able to enjoy substantial tax savings through planning their remuneration package. Hong Kong still has tax concession for housing benefits granted to employees. What this means is that a Singapore employee may have a lower take-home pay compared to a Hong Kong employee enjoying the housing benefit. Wu Soo Mee, Partner, Human Capital, Ernst & Young Solutions LLP says: It is quite common for a foreign employee to be provided with temporary housing in a hotel. The taxable value is a prefixed monthly value of $250 per adult plus 2% on base salary paid during the hotel accommodation period. This amount will work out to be substantially lower than the actual hotel costs for the period. Again this will increase the tax costs thus reducing the take home pay. -Ends- About Ernst & Young Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 167,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit This news release has been issued by Ernst & Young Solutions LLP, a member of the global Ernst & Young organization that also does not provide any services to clients.
Deductibility of losses caused by a fraudulent director misappropriating company funds
October 2012 Singapore Tax News At a glance Appeal concerning a waiver from the shareholders test Deductibility of losses caused by a fraudulent director misappropriating company funds Deductibility of
More informationSingapore Budget. Commentary 2013
Singapore Budget Commentary 2013 SINGAPORE BUDGET 2013 Commentary by MGI Menon & Associates Executive Summary Finance and Deputy Prime Minister Mr Tharman Shanmugaratnam presented the 2013 Budget on 25
More informationSingapore tax and FATCA updates
Singapore tax and FATCA updates 21 March 2013 Page 1 Singapore tax and FATCA updates what do they mean to you? Budget 2013 updates Tax updates on the fund management industry FATCA what next? Page 2 Budget
More informationAt a glance. Budget 2015 News Alert Building our future, strengthening social security
Budget 2015 News Alert Building our future, strengthening social security At a glance Helping businesses cope with rising costs Supporting the internationalisation of businesses Supporting enterprise growth
More informationSingapore Budget Building Our Future, Strengthening Social Security
Singapore Budget 2015 Building Our Future, Strengthening Social Security Overview On 23 February 2015, the Minister for Finance presented the Jubilee Budget to mark Singapore s 50th year of independence,
More informationBusiness tax incentives and cash grants
March 2018 Issue: 1/2018 Business Incentives Advisory Tax Alert Business tax incentives and cash grants Key changes for Budget 2018 The Singapore government has proposed to increase the tax deduction for
More informationPre-Budget Brief Singapore
Pre-Budget Brief 2019 Singapore Contents Economic indicators 1 Economic trends 2 Singapore tax rates a history 3 Co rporate tax Prevailing corporate income tax rates in selected jurisdictions 5 as at 1
More informationIncome Tax (Amendment) Bill 2017
20 September 2017 Tax update Income Tax (Amendment) Bill 2017 Executive summary The Income Tax (Amendment) Bill 2017 (Bill) was introduced in Parliament on 11 September 2017. The Bill seeks to give legislative
More informationSingapore Budget 2015 SINGAPORE HONGKONG 20 YEARS IN PRACTICE IYER PRACTICE
Singapore Budget 2015 SINGAPORE HONGKONG 20 YEARS IN PRACTICE Foreword FOREWORD Budget 2015 was set against a background of a balanced position for FY2014 compared to a projected deficit of S$1.2 billion.
More informationSBF National Business Survey 2012/2013
1. Key Respondent Characterises In the 2012 survey, there was a 4% increase in the number of Local Companies who have responded to the survey. This is an indication that more Local Companies are keen to
More informationGlobal tax points for insurers. Volume 1 Issue 3
Global tax points for insurers Volume 1 Issue 3 Foreword Welcome to our third edition of Global tax points for insurers, an informal series that provides insurance executives with a snapshot of some interesting
More informationFinancial Reporting Developments. Singapore Healthcare Management Congress 2012
Financial Reporting Developments New control definition Page 2 Consolidated financial statements Consolidated financial statements Holding company Controlled entities Other strategic investments Page 3
More information2015 Budget Seminar. Florence Loh Partner, Corporate Tax
www.pwc.com/sg 2015 Budget Seminar Solving tomorrow s problems today Florence Loh Partner, Corporate Tax Agenda 1. Extended help on rising business costs Transition Support Package 2. Innovation and internationalisation
More informationMGI Worldwide Insights: Singapore Budget 2017
MGI Worldwide Insights: Budget 2017 How will Singapore cope against a backdrop of political and economic uncertainty, rapid technological change and a rise in anti-globalisation sentiment around the world?
More informationSCCCI Pre-Budget 2015 Survey. 23 December 2014
SCCCI Pre-Budget 2015 Survey 23 December 2014 1 Medium 15.9% Large 3.3% Small 31.8% Micro 49.0% Voices of SMEs 2 Construction 7.0% Manufacturing 18.7% Services 74.3% 356 respondents 92.6% are decisionmakers
More informationPre-Budget Brief Singapore
Pre-Budget Brief 2018 Singapore Contents Economic indicators 1 Economic trends 2 Singapore tax rates a history 3 Co rporate tax Prevailing corporate income tax rates in selected countries 5 as at 1 January
More informationSingapore Budget 2013
Productivity & Innovation Credit enhanced with new PIC Bonus, IP in-licensing & liberalisation of scope of PIC Automation Equipment New Wage Credit Scheme, Corporate Income Tax Rebate and Road Tax Rebate
More informationEXPATS: IN & OUT OF AUSTRALIA
EXPATS: IN & OUT OF AUSTRALIA 19 October 2017 Alice Chudowolski Senior Manager, Employment Taxes James Ortner Senior Manager, Global Mobility Overview 1. Expat 101 Australian tax residence and payroll
More informationClient Alert March 2015
Tax Singapore Client Alert March 2015 For more information, please contact: Eugene Lim eugene.lim@bakermckenzie.com +65 6434 2633 Allen Tan allen.tan@bakermckenzie.com +65 6434 2681 Dawn Quek dawn.quek@bakermckenzie.com
More informationSINGAPORE BUDGET 2013 SYNOPSIS. Singapore Malaysia Hong Kong China Australia
SINGAPORE BUDGET 2013 SYNOPSIS Singapore Malaysia Hong Kong China Australia INDEX Effective Page Introduction 1-5 Business Tax Corporate income tax rebate YA2013 - YA2015 6 Rationalising the start-up tax
More informationMedia Release. Reactions to the Singapore Budget 2018 Statement FOR IMMEDIATE RELEASE. Singapore, 19 February Overview
Media Release FOR IMMEDIATE RELEASE Singapore, 19 February 2018 Reactions to the Singapore Budget 2018 Statement Overview Ong Pang Thye, Managing Partner at KPMG in Singapore Minister Heng Swee Keat has
More informationSingapore TAX. kpmg.com.sg
Cover_layout_FINAL:Layout 1 19/2/2011 7:57 AM Page 1 TAX Singapore Budget 2011 B u d g e t 2 011 "Budget 2011" is issued in summary form exclusively for the information of clients and staff of KPMG Advisory
More informationRAISING PRODUCTIVITY: SKILLS, INNOVATION AND ECONOMIC RESTRUCTURING
RAISING PRODUCTIVITY: SKILLS, INNOVATION AND ECONOMIC RESTRUCTURING The Government will commit $1.1 billion a year over the next five years in the form of tax benefits, grants and training subsidies to
More informationVolume 44 No. 3 March 2012 MICA (P) 019/02/2012. Budget A Snapshot of Its Impact on Local Healthcare
Volume 44 No. 3 March 2012 MICA (P) 019/02/2012 Budget 2012 A Snapshot of Its Impact on Local Healthcare Budget 2012 A Snapshot of Its Impact on Local Healthcare By Martin Ho The Singapore Budget 2012,
More informationAGN TAXPRESSO. Quarterly Tax Publication 2nd issue 2019, April
AGN TAXPRESSO Quarterly Tax Publication 2nd issue 2019, April CHINA China Tax Update Personal and Corporate Taxes In 2018, China's economy grew at the slowest pace in 28 years, so it s no surprise that
More informationPoverty in Singapore PROFESSOR TAN NGOH TIONG SINGAPORE UNIVERSITY OF SOCIAL SCIENCES
Poverty in Singapore PROFESSOR TAN NGOH TIONG SINGAPORE UNIVERSITY OF SOCIAL SCIENCES Poverty in Singapore Poverty Defined Absolute poverty and Relative poverty. Absolute poverty is defined as the minimum
More informationEurozone Ernst & Young Eurozone Forecast Spring edition March 2012
Eurozone Ernst & Young Eurozone Forecast Spring edition March 2012 Austria Belgium Cyprus Estonia Finland France Germany Greece Ireland Italy Luxembourg Malta Netherlands Portugal Slovakia Slovenia Spain
More informationSingapore releases Budget 2018
26 February 2018 Global Tax Alert Singapore releases Budget 2018 EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: www.ey.com/taxalerts
More informationFRS 115 Revenue Recognition
Issue 1 (19 March 2015) FRS 115 Tax Alert FRS 115 Revenue Recognition Are you prepared for the tax challenges of the new revenue recognition standard? Overview The accounting requirements for recognising
More informationSingapore Budget 2016
Singapore Budget 2016 Partnering for the Future Singapore Budget 2016 1 Budget 2016 and your business Ready your business today with insights on this Budget. kpmg.com.sg/budget Join the conversation Singapore
More informationPrepare for success. 5Insights for executives. Operational transfer pricing: Failure to implement can hinder performance
5Insights for executives Prepare for success Operational transfer pricing: Failure to implement can hinder performance Of special interest to Chief financial officer Head of supply chain From natural disasters
More informationTo implement the recommendations of the Committee on the Future Economy a $2.4 billion budget has been set aside over the next four years.
FOR CLIENTS INFORMATION ONLY 20 February 2017 Dear Sirs THE 2017 SINGAPORE BUDGET COMMENTARY The Minister for Finance presented a budget with a focus to drive long term economic growth and development
More informationCorporate Income Tax. Withholding Tax. Basis of Taxation. Exemptions. Corporate Tax Rebate (Temporary) Residence. Dividends 0 15*
SINGAPORE TAX FACTS Corporate Income Tax Basis of Taxation Singapore taxes businesses on a preceding year basis on Singapore-sourced income and on foreign-sourced income remitted into Singapore. Whether
More informationEXPATS: IN & OUT OF AUSTRALIA
EXPATS: IN & OUT OF AUSTRALIA 1 November 2018 Upen Goswami Manager, Employment Taxes Rob Xie Manager, Global Mobility Overview 1. Expat 101 Australian tax residence and payroll implications Foreign tax
More informationSingapore 2016 Budget Preview: A Re-Focus On The Economy
Francis Tan Francis.TanTT@uobgroup.com Global Economics & Markets Research Email: GlobalEcoMktResearch@uobgroup.com URL: www.uob.com.sg/research Wednesday, 9 March 216 Singapore 216 Budget Preview: A Re-Focus
More informationPartnering for the future
Budget 2016 News Alert Partnering for the future At a glance Addressing near-term concerns Transforming enterprises Transforming through innovation Shift from broad-based support Strengthening Singapore
More informationBudget Seminar Raffles City Convention Centre Thursday, 7 April 2016
Budget Seminar 2016 Raffles City Convention Centre Thursday, 7 April 2016 Seminar slides and Q&A Presentation slides will be available for download at the following URL from 8 April 2016: www.ey.com/sg/budget
More informationSingapore Budget 2015 Synopsis
Singapore Budget 2015 Synopsis At a glance Introduction Future-proofing Singapore 3 Business tax Corporate income tax rate and rebate 7 The International Growth Scheme 9 Extending and enhancing the M&A
More informationMoving forward together
Budget 2017 News Alert Moving forward together At a glance Providing near-term support for businesses Strengthening the competitiveness of the financial sector Simplifying and rationalising Singapore s
More informationDoing Business in Singapore
Doing Business in Singapore This document describes some of the key commercial and taxation factors that are relevant on setting up a business in Singapore. Prepared by DFK JKMedora & Co LLP 2 Doing Business
More informationTax update - Singapore Budget 2012
Tax update - Singapore Budget 2012 March 2012 The tax practice at ATMD Bird & Bird LLP provides you the highlights of significant tax changes for businesses in the 2012 Budget delivered by Deputy Prime
More informationTangible property regulations. A discussion about taxpayer considerations
Tangible property regulations A discussion about taxpayer considerations How will your Key considerations Acquisitions Federal and state income tax Increased tax liability: Capitalization of certain de
More informationSingapore Budget 2016
Singapore Budget 2016 Shanker Iyer 30 March 2016 SINGAPORE HONGKONG 20 YEARS IN PRACTICE AGENDA Budget Position Tax Changes for Businesses Changes to Tax incentives Tax Changes for Individuals Other changes
More informationDoing Business in Singapore
Contents 2 About IMC 3 About Singapore 4 Types of Companies 5 Steps for Company Establishment 7 The process for Incorporation 9 Tax Incentives 11 Taxation 12 Singapore DTA Brief 13 Immigration Law 15 Our
More informationChina Life Insurance (Singapore) Pte. Ltd. PUBLIC DISCLOSURE
China Life Insurance (Singapore) Pte. Ltd. PUBLIC DISCLOSURE For the Financial Year Ended 31 December 2015 Company Profile China Life Insurance (Singapore) Pte. Ltd. ( we, us, our ) is a private limited
More informationPre-Budget Brief Singapore
Pre-Budget Brief 2016 Singapore Contents Economic indicators 1 Economic trends 2 Singapore tax rates a history 3 Co rporate tax Prevailing corporate income tax rates in selected countries 5 as at 1 January
More informationParticipants can sign up for full course (all 5 modules) or individual modules.
Level : Intermediate Course Fees Participants can sign up for full course (all 5 modules) or individual modules. Fees for full course - 5 modules - S$1,712 (no subsidy) -S$1,455.20 (after ICPAS subsidy
More informationOver 21,000 individual submissions were made to the proposals, including some that were several hundred pages long.
2017 Issue No. 48 25 October 2017 Tax Alert Canada Private company tax reform: where are we now? EY Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
More informationTogether, a better future
Budget 2018 News Alert Together, a better future At a glance Overcoming near-term challenges Fostering pervasive innovation Building deep capabilities Encouraging a spirit of giving Enhancing progressivity,
More informationThe RICS and Macdonald & Company Asia Rewards & Attitudes Survey Executive Summary and Key Findings
The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2014 Executive Summary and Key Findings 2014 EXECUTIVE SUMMARY 2 www.macdonaldandcompany.com/salary-survey Foreword It is 12 months since
More informationFinance Canada releases revised income splitting measures
20 December 2017 Global Tax Alert News from Americas Tax Center Finance Canada releases revised income splitting measures EY Global Tax Alert Library The EY Americas Tax Center brings together the experience
More informationOverview of the transfer pricing landscape in Singapore
Transfer Pricing Alert Issue 19 24 August 2018 Overview of the transfer pricing landscape in Singapore Overview With fiscal year (FY) 2016 marking the end of the three-year documentation cycle for taxpayers
More informationApplying IFRS. IFRS 9: New mandatory effective date and transition disclosures
Applying IFRS IFRS 9: New mandatory effective date and transition disclosures January 2012 Contents Overview 2 Background 2 Disclosures on transition to IFRS 9 3 Transition adjustments 3 Appendix 4 8
More informationTax Strategy for The Bahamas as an IFC 2 March 2018
Tax Strategy for The Bahamas as an IFC 2 March 2018 Agenda Tax Strategy for The Bahamas Current global environment Tax strategies of other IFCs Potential impacts of corporate tax Policy considerations
More informationBudget Seminar March 2015
Budget Seminar 2015 10 March 2015 Budget 2015 overview Chung-Sim Siew Moon Partner and Head of Tax Page 2 Page 3 Budget 2015 is about Futureproofing Singapore Deepening our skills and capabilities Making
More informationASEAN ECONOMIC COMMUNITY: OPPORTUNITIES AND CHALLENGES FOR INSURERS
ASEAN ECONOMIC COMMUNITY: OPPORTUNITIES AND CHALLENGES FOR INSURERS 1 Welcome Welcome Heng Loong Cheong Partner You are on mute A link to a recording of the webinar will be available We can take questions
More informationBudget Table of Contents. February 2011 Singapore Budget Report
Budget 2011 Foreword Table of Contents Business Tax... 4 General Tax Changes... 4 Enhancement and Extensions to Existing Tax Incentives... 5 New Tax Incentives... 11 Individual Tax... 12 Goods and Services
More informationPrivate Client Services
Private Client Services Residential property Charges for non-natural persons March 2013 Residential property: charges for non-natural persons The 2012 Chancellor s Budget contained a number of announcements
More informationDesigning Global Payroll and Benefit Programs. Fatima Laher and Maria Tsatas Deloitte LLP Randy Hahn Guberman Garson Segal LLP
Designing Global Payroll and Benefit Programs Fatima Laher and Maria Tsatas Deloitte LLP Randy Hahn Guberman Garson Segal LLP Agenda Evolving Payroll and Immigration landscape The Payroll Gap Analysis:
More informationSingapore Budget 2017 Synopsis
Singapore Budget 2017 Synopsis MCI (P) 013/01/2017 Printed by Hock Cheong Printing Pte Ltd At a glance Introduction The Singapore way 3 Business tax Corporate income tax rate and rebate 7 Enhancing the
More informationSingapore Budget 2016 a review of business tax proposals
31 March 2016 Global Tax Alert Singapore Budget 2016 a review of business tax proposals EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser:
More informationHong Kong releases new practice note on concessionary tax regime for qualifying aircraft leasing activities
10 November 2017 Global Tax Alert Hong Kong releases new practice note on concessionary tax regime for qualifying aircraft leasing activities EY Global Tax Alert Library Access both online and pdf versions
More informationAsia Pacific Pensions
Asia Pacific Pensions What other countries do, what we could learn and where we should act 17 September 2013 Table of Contents 1 2 3 Share selected overseas insights Outline selected Pension insights from
More informationSingapore Budget Highlights 2015
Singapore Budget Highlights 2015 Accountants & Business Advisors Foreword FOREWORD The Minister for Finance presented the Budget 2015 on 23 February 2015. Though much anticipated by Singaporeans as the
More informationA BUDGET FOR THE FUTURE. Budget at a glance
A BUDGET FOR THE FUTURE Budget at a glance Sector Specific Financial and insurance sectors Tax framework for Singapore Variable Capital Companies ( S-VACCs ) to be introduced to complement the S-VACC regulatory
More informationSingapore Budget 2018
Singapore Budget 2018 Shanker Iyer 27 February 2018 SINGAPORE HONGKONG 25 YEARS IN PRACTICE AGENDA Fiscal Sustainability Income Tax Goods & Services Tax Incentives Other Updates Questions SINGAPORE HONGKONG
More informationYour guide to taxation in South Africa
Sharing our experience Your guide to taxation in South Africa www.fpinternational.com Policyholder s guide to taxation in South Africa Friends Provident International (FPI) provides life insurance, savings
More informationSTRUCTURAL REFORMS & GLOBAL COOPERATION ARE NEEDED TO BOOST ECONOMIC GROWTH
STRUCTURAL REFORMS & GLOBAL COOPERATION ARE NEEDED TO BOOST ECONOMIC GROWTH By Ho Meng Kit Chief Executive Officer of the Singapore Business Federation (SBF) Last month, from 3 to 5 September, business
More informationKPMG Budget Wishlist 2018:
KPMG Budget Wishlist 2018: Accelerating growth in the future economy The digital economy provides new economic opportunities for Singapore businesses to capitalise upon. By adopting a global mindset and
More informationIn.Telligent Corporate Solutions. IN.CORP Communiqué. Vol. 4 I April 2016 I Highlights IN.CORP GROUP OF COMPANIES. Regulatory updates
IN.CORP Communiqué Vol. 4 I April 2016 I Highlights Regulatory updates - Budget 2016 - An Overview - IRAS - Upcoming Due Dates Key filing reminders Solution Areas in focus - XBRL filing - Personal Tax
More informationFundamentals Level Skills Module, Paper F6 (SGP)
Answers Fundamentals Level Skills Module, Paper F6 (SGP) Taxation (Singapore) Dax Pte Ltd December 204 Answers and Marking Scheme Marks (a) The transfer of David s 60% shareholding in Dax Pte Ltd (DPL)
More informationThe nexus between transfer prices and extractive industry taxation
Extractive Industry Taxation UN Financing for Development meeting May 28, 2013 The nexus between transfer prices and extractive industry taxation The relevance of transfer pricing approaches - but also
More informationFundamentals Level Skills Module, Paper F6 (SGP)
Answers Fundamentals Level Skills Module, Paper F6 (SGP) Taxation (Singapore) December 2010 Answers 1 (a) The Income Tax Act defines a company to be resident in Singapore if the control and management
More informationSINGAPORE BUDGET 2012 SYNOPSIS
SINGAPORE BUDGET 2012 SYNOPSIS Singapore Malaysia Hong Kong China Australia INDEX Effective Page Introduction 1 Business Tax One-off SME Cash Grant YA2012 2 Enhancing the Productivity and Innovation Credit
More informationFOREWORD. Singapore Budget Highlights 2018
Foreword FOREWORD This year s Budget delivered by the Finance Minister, Mr. Heng Swee Keat, on 19 February 2018 outlined steps Singapore must take in order to prepare for three major shifts in the coming
More informationGlobal mining and metals tax survey. From backroom to boardroom. The CFO perspective at a glance
Global mining and metals tax survey From backroom to boardroom The CFO perspective at a glance The CFO perspective at a glance We want to help you get to the insight you need as quickly as possible. This
More informationThe facts on FATCA. Prioritize, plan and prepare
The facts on FATCA Prioritize, plan and prepare If we take a look at financial institutions today in the context of FATCA the Foreign Account Tax Compliance Act while some companies have already begun
More informationWorking towards a stronger, fairer and better Britain
Budget Edition 2017 Talking Tax Business and personal tax planning PRECISE. PROVEN. PERFORMANCE. Working towards a stronger, fairer and better Britain The Office for Budget Responsibility s forecast of
More informationThe Euskaltel Group posts a net profit of Euros 14.6 million for the first quarter, up 10.9%
Euskaltel Group Results - 1Q 2018 The Euskaltel Group posts a net profit of Euros 14.6 million for the first quarter, up 10.9% The Group gains customers across all business areas - fixed-line and mobile
More informationBudget Commentary 2015 Solving tomorrow s problems today
www.pwc.com/sg/budget-2015 Budget Commentary 2015 Solving tomorrow s problems today Contents Solving tomorrow s problems today 4 Encouraging innovation and 6 internationalisation Enhancing competitiveness
More informationAt last, the omnibus technical bill (C-48) is enacted
2013 Issue No. 28 27 June 2013 Tax Alert Canada At last, the omnibus technical bill (C-48) is enacted Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian
More informationSINGAPORE BUDGET Moving Forward Together
SINGAPORE BUDGET 2017 Moving Forward Together CONTENTS 1 Corporate Tax 2 Personal Tax Page 2 CORPORATE TAX Corporate income tax rebate Current treatment Companies enjoy a CIT rebate of 50% for YA 2016
More informationAsian Insights Third quarter 2016 Asia s commitment in policies and reforms
Asian Insights Third quarter 2016 Asia s commitment in policies and reforms One of the commonalities between most Asian governments is the dedicated commitment they have in using policies and initiatives
More informationFinance Bill Draft Finance Bill 2018 clauses. Draft clauses and other documents published on 13. September 2017
September 2017 Draft Finance Bill 2018 clauses Finance Bill 2018 Draft clauses and other documents published on 13 September 2017 13 September 2017 saw the publication of a number of draft clauses intended
More informationDirectors remuneration report
www.prudential.co.uk Annual Report Prudential plc 123 04 Directors remuneration report Page Annual statement from the Chairman of the 124 Remuneration Committee Our Executive Directors remuneration at
More informationWorldwide tax reporting in the shared services age: seizing the opportunity and managing the risk. 14 May 2013
Worldwide tax reporting in the shared services age: seizing the opportunity and managing the risk 14 May 2013 Disclaimer Ernst & Young refers to the global organization of member firms of Ernst & Young
More informationProfessional Level Options Module, Paper P6 (SGP)
Answers Professional Level Options Module, Paper P6 (SGP) Advanced Taxation (Singapore) June 2014 Answers Note: ACCA does not require candidates to quote section numbers or other statutory or case references
More informationPioneer Generation Package
Pioneer Generation Package 1 Please note: These slides are meant to provide a broad overview of the Pioneer Generation Package and should not be taken as a comprehensive representation of the details of
More informationFUND MANAGERS & FINANCIAL ADVISERS - SINGAPORE REGULATORY AND TAX FRAMEWORK
FUND MANAGERS & FINANCIAL ADVISERS - SINGAPORE REGULATORY AND TAX FRAMEWORK 1. Regulatory Framework For Fund Managers Companies wishing to conduct fund management activities in Singapore are required by
More informationTrends of Household Income Disparity in Hong Kong. Executive Summary
Trends of Household Income Disparity in Hong Kong Executive Summary Income disparity is one of the major concerns of the society. A very wide income disparity may lead to social instability. The Bauhinia
More informationSingapore Budget 2018 Commentary Redefine. Reinvent. Reimagine.
Singapore Budget 2018 Commentary Redefine. Reinvent. Reimagine. Singapore Budget 2018 Commentary Common abbreviations B Billion CPF Central Provident Fund CIT Comptroller of Income Tax DTA Double Tax Agreement
More informationTRACKING TAX IN YOUR INDUSTRY 4.0 TRANSFORMATION
INSIGHTS FROM THE BDO MANUFACTURING & DISTRIBUTION PRACTICE TRACKING TAX IN YOUR INDUSTRY 4.0 TRANSFORMATION An organization s path to Industry 4.0 may be winding or direct, depending on where they are
More information14. Singapore s Social Safety Net and Human Service Provisions
14. Singapore s Social Safety Net and Human Service Provisions Ang Bee Lian Whatever model of human service provision they subscribe to, governments around the world face the dual challenges of an ageing
More informationBudget Commentary Singapore An analysis of the main tax proposals presented in Budget 2011
www.pwc.com/sg/budget-2011 Budget Commentary Singapore An analysis of the main tax proposals presented in Budget 2011 18 February 2011 Double, bubble, still more trouble? It was never expected that this
More informationFederal Budget Brief
Federal Budget - 2015-2016 Brief Welcome to the KSR edition of the Federal Budget overview. The Federal Government handed down its second budget last night and in contrast to last year s austerity measures,
More informationAtoms for the Future New Build
Atoms for the Future 2014 - New Build Tony Ward 13 October 2014, Paris EU approves Hinkley Point C State Aid case 2 8 October 2014 - A hugely significant step.2 years after Generic Design Assessment approval
More informationSingapore Variable Capital Company
05 April 2017 Tax alert Singapore Variable Capital Company On 23 March 2017, the Monetary Authority of Singapore (MAS) issued a consultation paper 1 on the proposed framework for Singapore Variable Capital
More informationEurozone Ernst & Young Eurozone Forecast June 2013
Eurozone Ernst & Young Eurozone Forecast June 2013 Austria Belgium Cyprus Estonia Finland France Germany Greece Ireland Italy Luxembourg Malta Netherlands Portugal Slovakia Slovenia Spain Ernst & Young
More informationChanges to minimum bid size, forced order range and trading hours for the securities market
Response to feedback on consultation paper Changes to minimum bid size, forced order range and trading hours for the securities market 18 July 2017 Singapore Exchange Contents I Introduction... 1 1 Background...
More informationWe are large enough to provide seamless global service yet small enough to remain agile.
WELCOME TO TRUSTMOORE Trustmoore is a rapidly expanding corporate services provider that combines a global presence with the style and approach of a boutique firm. We service financial institutions, multinational
More information