2015 Tax Calendar

Estimated Chargeable Income

  • Companies are required to furnish the ECI within three months after the end of their financial year end.

Form C/C-S

  • Paper file by 30 Nov of each year
  • e-File by 15 Dec of each year
  • If not filed within the stipulated period, then IRAS will raise their own assessment based on prior year figures or based on their own estimate.

Individual Income Tax

  • File online from 1 Mar 2015 to 18 Apr.
  • Submit a paper return by 15 Apr.

Withholding Tax

  • Payment of withholding tax must be made to IRAS by the 15th of the second month from the date of payment to the non-resident. 

 Goods and Services Tax

  • GST returns and payment are due one month after the end of the accounting period covered by the return. If you are on GIRO plan for GST payment, deductions will be made on the 15th day of the month after the payment due date.

Feel free to contact us for more information or support.

 



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  Resources:

The Dematerialisation of Shares in the UK: Current Update & Assessment

The Dematerialisation of Shares in the UK: Current Update & Assessment

Business is an area that is continuously developing. An integral part of both business and economics are companies. It is possible to say that companies dictate the conditions of the market to a certain extent. Any public or private company has its own shares; a share is a security that provides a portion of ownership of the company and gives the holder the right to a part of the profits.

Current Information on the Payment of Cyprus Taxes for Pensions & Rental Income

Current Information on the Payment of Cyprus Taxes for Pensions & Rental Income

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Contrary to the Bearish Trend: How Tether Gained a Place in the CoinMarketCap Top 10

Contrary to the Bearish Trend: How Tether Gained a Place in the CoinMarketCap Top 10

Tether Ltd, the issuer of Stablecoin, a type of cryptocurrency under the ticker USDT, has been hotly debated for the past year. Many representatives within the crypto-community suspect the issuer of the "tokenised dollar" regarding the insufficient supply of the currency, as well as the regular "quantitative easing" of the market during periods of recession.

Current Information on the Payment of Cyprus Income Tax

Current Information on the Payment of Cyprus Income Tax

An individual is considered to be tax resident in Cyprus by spending a total (consecutive or otherwise) of 183 days or more in any one calendar year in Cyprus. Anyone earning an income in Cyprus falls into two categories:

UK Company Law: The Doctrine of Lifting the Corporate Veil

UK Company Law: The Doctrine of Lifting the Corporate Veil

One of the main advantages of forming a legal entity is to limit the liability of the members of the company. However, in some circumstances, legal entities can be disregarded. This process is known as piercing the corporate veil and is the most common method for shareholders to take responsibility for the actions of the corporation.

How to Spot Professional Money Laundering Activities: A Guide for Companies

How to Spot Professional Money Laundering Activities: A Guide for Companies

A sound client due diligence (CDD) policy is crucial for any providers offering banking, incorporation, legal or accounting services to any extent or otherwise. Compliance must play a huge role around all company decisions to accept and work with new clients, with an explicit set of rules for knowing and identifying different risk categories.

Creating Physical Presence & Capital Requirements for Cyprus Shell Company Crackdown

Creating Physical Presence & Capital Requirements for Cyprus Shell Company Crackdown

Recently, the Cyprus Central Bank issued guidance to banks & credit institutions, advising them of the new mandatory refusal to take on new clients or to continue servicing existing accounts with so-called shell or letter-box companies.

How the UK is Combating Offshore Culture & How it Could be Doing More

How the UK is Combating Offshore Culture & How it Could be Doing More

Typical tax haven destinations such as BVI, Jersey and Switzerland have always been in the spotlight from profiting off of helping clients circumvent legislation in their jurisdiction of residence for decades.