SheltonsGroup

Accountants and Business Advisers to International Clients | Offices located in Denmark, Malta, Australia and the United Kingdom | International Tax Training

[SheltonsGroup @SheltonsGroup]

Generally, Australian employment law applies no matter where the employer is resident, as long as the employee is performing their services physically in Australia.

https://t.co/oYAuCwQm8S

#EmployingStaffInAustralia
#AustralianEmploymentLaw
#Australia
#FactsForForeigners

[SheltonsGroup @SheltonsGroup]

Singapore law requires that every company has at least one director who is a resident of Singapore.

https://t.co/0zRd7XfKJQ

#SingaporeLaw
#SingaporeDirector
#BusinessInSingapore
#Singapore
#FactsForForeigners

[SheltonsGroup @SheltonsGroup]

All foreigners who plan to work in Singapore must have a valid work pass (more commonly known as a work visa) before they start work.

https://t.co/0zRd7XfKJQ

#SingaporeWorkPass
#SingaporeWorkVisa
#WorkInSingapore
#Singapore
#FactsForForeigners

[SheltonsGroup @SheltonsGroup]

Foreign dividends received in Singapore by resident individuals, except those received via a partnership in Singapore, are tax-exempt.

https://t.co/0zRd7XfKJQ

#SingaporeForeignDividends
#ForeignDividends
#Singapore
#FactsForForeigners

[SheltonsGroup @SheltonsGroup]

The average unemployment rate in Singapore for 2023 was 2.9%. This compares favourably to 2019 (3.3%) and 2020 (4.2%).

https://t.co/0zRd7XfKJQ

#UnemploymentRateSingapore
#WorkInSingapore
#BusinessInSingapore
#Singapore
#FactsForForeigners

[SheltonsGroup @SheltonsGroup]

In Singapore, a company is taxed at a flat rate of 17% of its chargeable income and this applies to both local and foreign companies.

https://t.co/ZXIDUJSLNf

#SingaporeCorporateIncomeTaxRate
#SingaporeTax
#DoingBusinessInSingapore
#Singapore
#FactsForForeigners

[SheltonsGroup @SheltonsGroup]

In Singapore, companies that register for GST (VAT) on a voluntary basis must remain to be GST registered for at least 2 years.

https://t.co/ZXIDUJSLNf

#SingaporeGST
#SingaporeGSTRegistered
#DoingBusinessInSingapore
#Singapore
#FactsForForeigners

[SheltonsGroup @SheltonsGroup]

All taxpaying companies in Singapore will receive SGD2000 in cash payout if they have employed at least one local employee in 2023, whether or not the company was a tax resident.
https://t.co/ZXIDUJSLNf
#SingaporeCompanies
#DoingBusinessInSingapore
#Singapore
#FactsForForeigners

[SheltonsGroup @SheltonsGroup]

The Fair Work Commission has increased the national minimum wage in Australia, effective 1 July 2023. For more on the subject, see our recent blog by Sheltons Legal.
https://t.co/tNLc8LIG2o
#FairWorkCommission
#AustralianMinimumWage
#AustraliaModernAward
#SheltonsGroupLegal

[SheltonsGroup @SheltonsGroup]

In Singapore, a company is taxed at a flat rate of 17% of its chargeable income and this applies to both local and foreign companies.

https://t.co/ZXIDUJSLNf

#SingaporeCorporateIncomeTaxRate
#SingaporeTax
#DoingBusinessInSingapore
#Singapore
#FactsForForeigners

[SheltonsGroup @SheltonsGroup]

Under the Companies Act, all Singapore-incorporated companies are required to file annual returns with ACRA to ensure that the company’s information on ACRA’s register is up to date.

https://t.co/ZXIDUJSLNf

#AnnualReturnsSingapore
#ACRA
#Singapore
#FactsForForeigners

[SheltonsGroup @SheltonsGroup]

In Singapore, ACRA is the regulator of business registrations, financial reporting, public accountants and corporate service providers. This is similar to Companies House in the UK.
https://t.co/ZXIDUJSLNf
#ACRA
#SingaporeACRA
#BusinessInSingapore
#Singapore
#FactsForForeigners

[SheltonsGroup @SheltonsGroup]

Corppass is the authorisation system in Singapore for entities to manage digital service access for employees to perform corporate transactions.
https://t.co/ZXIDUJSLNf
#SingaporeCorppass
#Corppass
#BusinessInSingapore
#Singapore
#FactsForForeigner

[SheltonsGroup @SheltonsGroup]

The Fair Work Commission has increased the national minimum wage in Australia, effective 1 July 2024. For more on the subject, see our recent blog by Sheltons Legal.
https://t.co/vBKGzBn31j
#FairworkCommission
#AustralianMinimumWage
#AustraliaModernAward
#SheltonsGroupLegal

[SheltonsGroup @SheltonsGroup]

The minimum share capital to incorporate a company in Singapore is SGD 1.00.

https://t.co/e1aYlTV97Q

#SingaporeMinimumShareCapital
#SingaporeCompanyFormation
#Singapore
#FactsForForeigners

[SheltonsGroup @SheltonsGroup]

Singapore law requires that every company has at least one director who is resident in Singapore.

https://t.co/e1aYlTV97Q

#SingaporeanDirector
#SingaporeDirector
#Singapore
#FactsForForeigners

[SheltonsGroup @SheltonsGroup]

Exempt private companies (EPC’s) are the most common type of company in Singapore where no shareholder is a corporation.

https://t.co/e1aYlTV97Q

#ExemptPrivateCompany
#SingaporeBusinessForms
#Singapore
#FactsForForeigners

[SheltonsGroup @SheltonsGroup]

Only certain imported goods are subjected to customs duty in Singapore. The 4 broad categories of dutiable goods in Singapore are; intoxicating liquors, tobacco products, motor vehicles and petroleum products.
https://t.co/e1aYlTV97Q
#DoingBusinessInSingapore
#FactsForForeigners

[SheltonsGroup @SheltonsGroup]

The threshold for compulsory GST registration in Singapore is SGD 1 million. This is assessed based on the total value of standard-rated and zero-rated supplies made in a calendar year.

https://t.co/e1aYlTV97Q

#SingaporeGST
#Singapore
#FactsForForeigners

[SheltonsGroup @SheltonsGroup]

An Australian company can, if certain conditions are met, receive dividends from abroad without Australian tax.

https://t.co/pUmlSsQPeb

#AustralianTaxationOfForeignDividends
#BusinessInAustralia
#Australia
#FactsForForeigners