Reading Time: 4 minutesNobody likes taxes. Over 190,000 companies paid tax in Singapore in 2016, for gross tax receipts of S$1.36 billion. As a social enterprise or SME owner, dealing with taxes often causes headaches, especially when you need every cent to pay the bills or grow your business. Fortunately, the Singapore tax regime is one of the […]
Tan Peng Chin LLC’s Update on Business Arrangements and Tax Avoidance
Reading Time: 4 minutesOften professional services are provided through companies. Typically, a company would employ an individual who would provide professional services to the company’s client/customers/patients. We understand that the Comptroller of Income Tax (“CIT”) has been scrutinising such business structure arrangements with a view to determining if such arrangements are tax avoidance arrangements. Where the CIT concludes […]