Tax Alert 

KPMG's Tax Alert examines and discusses the recent tax developments in Singapore and the implications thereof.
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  • December 2014 - Issue 27 (PDF, 308KB) New
    Seven ways to manage your taxes as 2014 winds down
    Oliver Wendell Holmes said: "I like to pay taxes. With them, I buy civilisation." Most of us recognise that taxes pay for public services, but would be less willing to scrounge up for them than Justice Holmes. But how do we reduce our tax obligations within reason and mitigate adverse consequences?

    We count seven ways to manage your taxes as the year winds down and as you prepare to file your tax return for the Year of Assessment 2015 by April 15, 2015.

  • December 2014 - Issue 26 (PDF, 166KB)
    Exploring new frontiers
    AMID an uncertain economic climate, firms in Asia are moving forward and taking leaps with their internationalisation efforts.

    As Asian firms evolve into powerhouses and increase their receptiveness to foreign investment, the region's economy continues to be daring yet demanding. Globally distinct brands and rapid venture activity foster new opportunities in Asia for international firms.

    Companies looking to expand or enter the region will need to be more risk-intelligent, make brainier decisions and move quicker to capture global advantage. What remains on top of their checklist are their risk appetite, market-access advantage and cost structure. These areas are where the Asean Economic Community can help.

  • December 2014 - Issue 25 (PDF, 175KB)
    Extension of Time to File Tax Clearance for Frequent Business Travellers
    With globalization, there has been an increasing number of employees travelling for work outside of their home countries. Depending on the tax laws of the countries which they visit, the frequent business traveller (FBT) employee may be subject to income tax or may have tax return filing requirements in these countries.

    The Inland Revenue Authority of Singapore has recently informed KPMG of new guidelines to simplify the tax reporting for FBTs into Singapore.

  • November
  • November 2014 - Issue 24 (PDF, 249KB)
    Gearing up for Malaysia GST
    On April 1, 2015, Malaysia will replace its sales and services tax with a goods and services tax (GST). As another source of revenue, it may help to address the persistent budget deficit and growing debt that Malaysia faces today.

    However, current projections suggest collections from the GST next year will amount to only RM690 million (S$267 million). This is after considering various government reliefs and a growing list of items to be zero-rated and exempt under the new GST regime to help lower-income Malaysians cope with a rising cost of living.

    More noteworthy is that Malaysia is bringing forth radical changes to its tax landscape, shifting from a reliance on direct to indirect tax for tax revenues similar to most countries in the region.

  • October