The Singapore Tax System: Types of Taxes to be Aware of

types of taxes

Singapore has become a tax haven for most international investors thanks to its business-friendly tax system. The country has attractive personal and corporate tax rates, an absence of capital gains taxes, tax relief measures, extensive double tax treaties, and a one-tier tax system. Singapore also makes it easy to set up and operate businesses. Additionally, … Read more

A Complete Guide To Employer CPF Contributions In Singapore

employer cpf contribution

Singapore’s CPF is a mandatory saving scheme to cover workers’ social security needs. Both the employee and employers participate in this system by paying CPF contributions. On the other hand, the government plays its role by guaranteeing a risk-free interest rate that depends on the account type, age, and actual savings. Under the CPF Act, … Read more

How to Pay Your Income Tax in Singapore 2022

how to pay income tax singapore

Who Needs To Pay Income Tax In Singapore? According to the Inland Revenue Authority of Singapore (IRAS), all income-earning individuals should pay their yearly income taxes. For the year of assessment (YA) 2022, you must pay for all income earned in 2021. However, you do not need to pay tax if you are exempted under … Read more

Top 10 Ways to Reduce Your Income Tax in Singapore

how to reduce income tax singapore

The Singapore government has the power to tax and control taxes. By providing legal ways for personal income taxes to be reduced, they also open the chance to boost one’s spending power, as well as savings and investment. With this, peoples’ disposable incomes also increase, leading to economic growth  In Singapore, income tax depends on … Read more

Best Ways to Earn Passive Income in Singapore this 2022

passive income singapore

Nowadays, many Singaporeans have become more aware and cautious of handling and growing their finances. Yet, knowing that time is more valuable than money, they’d want ways to grow their money without wasting precious time. An excellent and appealing way to do this is through building a passive income. Passive income has become a sought-after … Read more

Financial Planning 101: A Beginner’s Guide

financial planning singapore

Everyone wants financial freedom and adequate savings for retirement, yet, not everyone has a financial plan. Some may think that financial planning is complex or only for the wealthy. The truth is, it is for anyone who wants to achieve their financial goals, and it’s best to start early. Moreover, you don’t need to be … Read more