Knowledge base

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.

Taxation of Rental Income in Cyprus

Income, earned by a Cyprus tax resident individual, arising from the rental of immovable property which is situated in Cyprus is taxable both under the Cyprus Income Tax and the Special Contribution Tax legislation.

On 17th June 2015 the European Commission has presented the Corporate Tax Reform Action Plan which signifies the second and more comprehensive step towards remodelling corporate taxation in the European Union.

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.

Any person who withholds tax from interest, royalties, management fees, Directors’ remuneration or other payments paid to a non-resident person must complete and submit the IR37 form to the Comptroller together with the relevant amount of tax withheld.

Income subject to tax and its tax rate Section 45B (1): Section 45 shall apply in relation to the payment of any remuneration by a company to any non-resident Director of the company. Section 45(B) (2): subject to tax at 20%. For tax purposes, a non-resident Director is: A member of the board of…

Income deemed to be derived from Singapore Under Section 12(7)(c), payment for the management or assistance in the management of any trade, business or profession that are: Borne by a person resident or with permanent establishment in Singapore; OR Which are deductible against any income accruing…