Knowledge base

Requirements for company liquidation in Singapore

There are various conditions a company must fulfil in order to be struck-off legitimately. One of the conditions is that the company must have filed all the tax returns until the date of the strike off. The Directors and Shareholders must ensure that any outstanding income, tax returns, accounts and tax computation have been submitted up to the date of cessation.


FATCA and its preliminary effects on Cyprus and Singapore banks

The Foreign Account Tax Compliance Act (FATCA) is a U.S. law with the purpose to detect and impede the evasion of tax by U.S. persons including individuals who live outside the country. The purpose of FATCA is to eliminate and discourage offshore tax evasion by citizens or residents.


Liquidation and voluntary winding up of a Singapore company

A Singapore company might decide to wind up as a result of various reasons and such procedures may be a challenging and lengthy task. The difficulties faced and time to complete is dependent upon many factors, including how well the company has been managed and administered throughout its existence, the method chosen for closing down and who performs such a processes.


Liquidation and voluntary winding up of a Cyprus company

A Cyprus company might decide to wind up as a result of various reasons and such procedures may be a challenging and lengthy task. The difficulties faced and time to complete is dependent upon many factors, including how well the company has been managed and administered throughout its existence, the method chosen for closing down and who performs such a processes.


How to set up a Singapore trust

Singapore is gaining more attraction as a trust jurisdiction internationally. A range of factors have contributed to achieving a reputable offshore trust status, including but not limited to the following reasons:


CySEC: impact of Swiss franc on Cyprus investment firms

Following the recent commotion created by the Swiss National Bank’s decision to discontinue the minimum exchange rate of 1.20 Swiss francs per euro with immediate effect, the Cyprus Securities and Exchange Commission (CySEC) is endeavouring to instigate an assessment of how far Cyprus Investment Firms (CIFs) have been affected.


Withholding tax in Singapore: when to file and pay

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.


Withholding tax in Singapore: non-resident Director's salary

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…


Withholding tax in Singapore: management fees and services

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…


Withholding tax in Singapore: Rental income

Rental Income Subject to Withholding Tax Under Section 12(7) (d), rent or other payments under any agreement or arrangement for the use of any movable property shall be deemed derived from Singapore if they are: Borne by a person, resident or a PE in Singapore; OR Deductible against any income accruing…