Singapore is a high-income economy with a gross national income of $54,040 per capita (Atlas Method), as of 2013. The country provides the world’s most business-friendly regulatory environment for local entrepreneurs and is ranked among the world’s most competitive economies
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries.
Taking into account other factors, including business licensing, taxes, credit legal rights and investor protection, Singapore has about the most business-friendly regulation in the world.”
In addition to a unique and fascinating lifestyle and culture, Singapore has a tremendous amount to offer the international business community.
Of all the choices you make deciding on incorporating an entity in Singapore, one of the most important is the type of business structure (i.e. legal entity) you choose for your business. Your decision can affect how much you pay in taxes, image and perception of your business among...
The Personal Income Tax Rate in Singapore stands at 20 percent. In February 2015, the government announced, for those with a chargeable income above SGD320,000, the marginal tax rate for the additional income will go up by 2 percentage points to 22 percent. It will apply starting with income...
Personal income tax rates in Singapore are one of the lowest in the world. In order to determine the Singapore income tax liability of an individual, you need to first determine the tax residency and amount of chargeable income and then apply the progressive tax rate to it.
The current rate of the Goods and Service tax (GST/VAT) is 7%
Singapore has great public transportation. The MRT trains can get you close to any destination that you may want to visit.
More than 600 telecommunications licences have been awarded by Singapore’s telecom regulator, the Infocomm Development Authority; around 5% of these come under the facilities-based operator category. The boom in licensing over the last decade has been the result of a hugely liberalised market and government policy that has strongly...