What is contract of service? Contract of service is an agreement whereby a person agrees to employ another as an employee. It establishes a servant–master relationship where the servant (the employee) […]
Singapore Budget 2020 Highlights
On 18 Febraury 2020, the Deputy Prime Minister and Finance Minister, Mr Heng Swee Keat announced the Singapore Budget 2020. YTK Management Consultants Pte Ltd is pleased to present the highlight about […]
Tax Administration in Singapore
ESTIMATED CHARGEABLE INCOME (ECI) Individual or corporate who carrying trade on business are required to submit their ECI 3 months after its financial year end. It is the amount before deducting the […]
What are the difference between Tax Planning, Tax Avoidance & Tax Evasion
Tax planning, tax avoidance and tax evasion: what are the differences? 1) Tax planning Tax planning is a process of structuring transactions to minimise one’s liability to tax, and usually fulfills both […]
Is it better for foreign company to have a branch or subsidiary in Singapore?
BRANCH Branch is defined as an extension set up by a parent organisation at another location to increase their coverage. It carries the same business activities as the parent company do. The […]
Employer Obligation for Singapore Tax Administration
Under Singapore Taxation Law, employer responsible to be reported for their employees other than corporate tax, such as IR8A, IR21 and Withholding Tax. Form IR8A and IR21 are one of the forms […]
Documentation of Transfer Pricing
Is it a must to prepare Transfer Pricing (TP) documentation? Majority of the countries in the world are committed or have implemented Base Erosion Profit Shifting (BEPS) action plans. One of the […]
What are Withholding Tax implication for a Company in Singapore? How should the company should deal with it?
What is Withholding Tax? Withholding tax is a tax system to ensure and facilitate the collection of tax payable from non-resident on certain kinds of Singapore-sourced income. The employer is required to […]
Tax Considerations When Venturing Overseas
Venturing overseas is getting common as companies want to expand their business and reduce their operating costs. However, venturing overseas without conducting due diligence may lead to unnecessary cost arising. One particular […]