W8 and more – Invoicing an American client from a Singapore company

Mar 24

W8 and more – Invoicing an American client from a Singapore company

Singapore and the United States do not have a double taxation avoidance agreement (DTAA) in place. This lack of DTAA between the two major trading partners is likely by design for reasons which are beyond the scope of this piece, as the USA has taxation treaties with a number of countries where bilateral trade is smaller. Common terms we hear in the US context such as Form W8 are...

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Invoicing an Indian client from a Singapore company – Startup FAQs

Mar 02

Invoicing an Indian client from a Singapore company – Startup FAQs

Singapore and India have had Double Taxation Avoidance Agreements since 1981, which has gone through revisions in 1994, 2005 and 2011. The latest revision to the DTAA is the third protocol, signed on 30 December 2016. Here are some commonly asked questions by Singapore companies with respect to taking advantage of the Singapore-India DTAA. Do note the language used here is intentionally simplified for quick comprehension and a bird’s...

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Offshore company incorporation

Jan 12

Offshore company incorporation

Why incorporate an offshore company? For businesses looking to go global, an offshore company is a good option to take. Setting up your offshore business in known jurisdictions such as the British Virgin Islands, Cayman Islands, etc., is legal and provides a complete privacy when doing business. Apart from the confidentiality of setting up a business in an offshore jurisdiction, other benefits from this type of setup include tax benefits,...

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Startup FAQs: Articles Of Incorporation and Registered Agent for Singapore companies

Jan 09

Startup FAQs: Articles Of Incorporation and Registered Agent for Singapore companies

There are some terms used in the US and international contexts during the company incorporation process, such as Articles Of Incorporation, that have a different terminology in Singapore. We clarify some of these terms below by highlighting their equivalents or the Companies Act standpoint in their regard. What is the equivalent of the Articles Of Incorporation in Singapore? The Constitution is defined as the equivalent of the Memorandum and...

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Startup FAQs – Skills Development Levy

Dec 26

Startup FAQs – Skills Development Levy

Administering payroll in Singapore is relatively simple because taxes are the employee’s personal responsibility and there is no PAYG system for employers to administer. Among the few levies on payroll in Singapore are the modest Skills Development Levy (SDL). What is Skills Development Levy (SDL)? SDL was first enacted under the Skills Levy Development Act of 1979. It funds the government’s upgrading programmes and training grants for the local...

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