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  1. 21 Μαρ 2024 · Taxes from foreign corporations are important. Since FY2022, the largest source of revenue to Singapore’s yearly Budget has been Corporate Income Taxes (CIT). In 2023, S$28.38 billion came from taxes levied on the profits generated by local and foreign companies, making up 27.2 per cent of government operating revenue.

  2. To develop high-value and substantive economic activities in Singapore, we encourage businesses to upgrade their capabilities or expand the scope of their business operations in Singapore, including through several incentives and schemes.

  3. 30 Μαΐ 2024 · Depending on their level of economic commitments to Singapore, international headquarters can apply for various tax incentives, including concessionary tax rates on qualifying income. Maritime Sector Incentive (MSI) scheme

  4. The Economic Development Board (EDB) is a statutory board under the Ministry of Trade and Industry of the Government of Singapore that plans and executes strategies to sustain Singapore as a leading global hub for business and investment.

  5. The Singapore Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry, is responsible for strategies that enhance Singapore’s position as a global centre for business, innovation, and talent.

  6. The Singapore Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry, is responsible for strategies that enhance Singapore's position as a global centre for business, innovation, and talent.

  7. We highlight the key tax developments from Budget 2024 below. Key takeaways •Singapore will implement the IIR and DTT under Pillar 2 from businesses' financial years starting on or after 1 January 2025, while reserving its position on the Undertaxed Profits Rule (UTPR) at this time.

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