What is Customs Duty

Customs Duty is the tax imposed on imports and exports of goods. Some businesses in Singapore may be involved with the import and export of certain goods. All goods imported into Singapore are regulated under the following acts: The Customs Act The Goods and Services Tax (GST) Act The Regulation of Imports and Exports Act [...]

2019-02-27T16:09:42+08:00October 28th, 2018|

What is a Public Company Limited by Guarantee (CLG)

If you are looking to start a charity or a non-profit organisation, you may consider setting up a Public Company Limited by Guarantee (CLG). Here are details of what makes up a CLG. A CLG is a separate legal entity. It is a company and is separate from the members of the company. As a legal [...]

2019-02-27T16:10:51+08:00October 27th, 2018|

What is Form C-S

Form C-S is a simplified 3-page income tax return for companies to report their income to the Inland Revenue of Singapore (IRAS).   Form C-S is for qualifying small companies and has fewer fields to fill. Form C-S comprises: A declaration statement of the company’s eligibility; Information on tax adjustments; and Information from the financial [...]

2019-02-27T16:14:34+08:00October 19th, 2018|

What is Estimated Chargeable Income (ECI)

Estimated Chargeable Income (ECI) is an estimate of a company's taxable income (after deducting tax-allowable expenses) for a Year of Assessment (YA). The Inland Revenue Authority of Singapore (IRAS) requires that the ECI be filed so that they can raise an early assessment. The data collected by IRAS will also be useful in helping the [...]

2019-02-27T16:13:29+08:00October 16th, 2018|
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