Knowledge base

Registration of Singapore flagged vessels: How to guide

Registration is open to all types of ships which includes offshore vessels like oil rigs and floating platforms. The vessel should be less than 17 years old and classed with any of the nine recognised classification societies.


Permanent Establishment in Singapore: Withholding tax & technical assistance fees

Section 2(1) of the Singapore Income Tax Act (SITA) defines a PE to mean a fixed place where a business is wholly or partly carried out including a place of management, a branch, an office, a factory, a warehouse, a workshop, a farm or plantation, a mine, oil well, quarry or other place of extraction of natural resources, a building or work site or a construction, installation or assembly project.


Shipping companies: why choose Singapore?

In a bid to make Singapore a shipping hub, various incentives were introduced to make it attractive to have shipping activities in Singapore. Essentially the provisions that govern the exemption of shipping activities in Singapore are found in Section 13A and Section 13F of the Singapore Income Tax Act (SITA).


Permanent Establishment in Singapore: Branches & DTAs

Section 2(1) of the Singapore Income Tax Act (SITA) defines a PE to mean a fixed place where a business is wholly or partly carried out including a place of management, a branch, an office, a factory, a warehouse, a workshop, a farm or plantation, a mine, oil well, quarry or other place of extraction of natural resources, a building or work site or a construction, installation or assembly project.


Amendment to the Singapore Companies Act 2014

After a recent review, changes have been made to the Singapore Companies Act 2014, which came into force on July 1st, 2015.


Applying for an extension to hold AGM & laying of accounts

As per the ACRA requirements for companies in Singapore, an Annual General Meeting (AGM) must be held once every calendar year.


Taxation of Singapore investment companies

The Singapore Tax Authority (IRAS) have special rules relating to the taxation of investment companies. An investment company is one that owns investments such as properties, shares, bonds and therefore derives income such as rental, dividend and interest.


ACRA announce important reforms to the Singapore Companies Act

ACRA announced that they will be making legislative changes to the Singapore Companies Act which will be taking effect in two phases; the first phase is effective from the first of July, with the second phase to be implemented in the first Quarter of 2016.


Registration of charges in the Republic of Singapore

The Accounting and Corporate Regulation Authority (ACRA) of the Republic of Singapore defines the Charge as "a form of security interest usually taken by a lender or creditor (“chargee”) to secure the repayment of a loan”.[1]


How Singapore’s 2015 Budget will help SMEs

Singapore has a government who recognises the potentials of what Small & medium Enterprises (SMEs) can do for the economy and likes to support them accordingly. Since June 2014, Singapore has been chairing the ASEAN SME Working Group. Singapore hopes to lead fellow ASEAN members into the realisation of the ASEAN Economic Community for SMEs in 2015.