2006

Tax Incentives

Tax Incentives

Personal Tax Matters

Personal Tax Matters

Personal tax reduced to 20% in YA 2007

FRS Highlights

In order to keep pace with the international reporting standards, in July 2004, the Council on Corporate Disclosure and Governance (CCDG) issued five new FRSs.

Upcoming CPF changes From 1 January 2006

News Release by:
Central Provident Fund Board
15 December 2005 --

Regional Headquarters & Expansion Incentive For Partnership Programmes

Regional Headquarters Programme  

The Headquarters Programme provides the appropriate incentive tools to encourage companies to use Singapore as a base for conducting headquarters management activities to oversee, manage and control their regional and global operations and businesses.

Changes to Form C Filing deadline and instalment payment of tax based on estimated chargeable income

It was announced in the 2006 Budget speech that the period for keeping business records under the Income Tax Act would be reduced from 7 years to 5 years so as to lighten the costs to business. In order that businesses will benefit from this reduction in record-keeping period, IRAS will have to finalise the tax assessments of companies within this shorter timeframe.

Year End Corporate Tax Planning

General techniques applicable to all taxpayers

We highlight some of the general techniques that can be used by all taxpayers to defer taxes as the years draws to a close.

Tax tip #1: Accelerate purchase of plant and machinery

Buy equipment such as computers

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