SheltonsGroup @SheltonsGroup
Accountants and Business Advisers to International Clients | Offices located in Denmark, Malta, Australia and the United Kingdom | International Tax Training sheltonsgroup.com London, England Joined January 2018-
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Generally, Australian employment law applies no matter where the employer is resident, as long as the employee is performing their services physically in Australia. bit.ly/3YSkYpN #EmployingStaffInAustralia #AustralianEmploymentLaw #Australia #FactsForForeigners
Singapore law requires that every company has at least one director who is a resident of Singapore. bit.ly/3SzQRPY #SingaporeLaw #SingaporeDirector #BusinessInSingapore #Singapore #FactsForForeigners
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. bit.ly/3SzQRPY #SingaporeWorkPass #SingaporeWorkVisa #WorkInSingapore #Singapore #FactsForForeigners
Foreign dividends received in Singapore by resident individuals, except those received via a partnership in Singapore, are tax-exempt. bit.ly/3SzQRPY #SingaporeForeignDividends #ForeignDividends #Singapore #FactsForForeigners
The average unemployment rate in Singapore for 2023 was 2.9%. This compares favourably to 2019 (3.3%) and 2020 (4.2%). bit.ly/3SzQRPY #UnemploymentRateSingapore #WorkInSingapore #BusinessInSingapore #Singapore #FactsForForeigners
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. bit.ly/3XKJB7b #SingaporeCorporateIncomeTaxRate #SingaporeTax #DoingBusinessInSingapore #Singapore #FactsForForeigners
In Singapore, companies that register for GST (VAT) on a voluntary basis must remain to be GST registered for at least 2 years. bit.ly/3XKJB7b #SingaporeGST #SingaporeGSTRegistered #DoingBusinessInSingapore #Singapore #FactsForForeigners
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. bit.ly/3XKJB7b #SingaporeCompanies #DoingBusinessInSingapore #Singapore #FactsForForeigners
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. bit.ly/3JEjzL1 #FairWorkCommission #AustralianMinimumWage #AustraliaModernAward #SheltonsGroupLegal
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. bit.ly/3XKJB7b #SingaporeCorporateIncomeTaxRate #SingaporeTax #DoingBusinessInSingapore #Singapore #FactsForForeigners
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. bit.ly/3XKJB7b #AnnualReturnsSingapore #ACRA #Singapore #FactsForForeigners
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. bit.ly/3XKJB7b #ACRA #SingaporeACRA #BusinessInSingapore #Singapore #FactsForForeigners
Corppass is the authorisation system in Singapore for entities to manage digital service access for employees to perform corporate transactions. bit.ly/3XKJB7b #SingaporeCorppass #Corppass #BusinessInSingapore #Singapore #FactsForForeigner
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. bit.ly/4crImhx #FairworkCommission #AustralianMinimumWage #AustraliaModernAward #SheltonsGroupLegal
The minimum share capital to incorporate a company in Singapore is SGD 1.00. bit.ly/3KGufIU #SingaporeMinimumShareCapital #SingaporeCompanyFormation #Singapore #FactsForForeigners
Singapore law requires that every company has at least one director who is resident in Singapore. bit.ly/3KGufIU #SingaporeanDirector #SingaporeDirector #Singapore #FactsForForeigners
Exempt private companies (EPC’s) are the most common type of company in Singapore where no shareholder is a corporation. bit.ly/3KGufIU #ExemptPrivateCompany #SingaporeBusinessForms #Singapore #FactsForForeigners
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. bit.ly/3KGufIU #DoingBusinessInSingapore #FactsForForeigners
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. bit.ly/3KGufIU #SingaporeGST #Singapore #FactsForForeigners
An Australian company can, if certain conditions are met, receive dividends from abroad without Australian tax. bit.ly/3ygNRAq #AustralianTaxationOfForeignDividends #BusinessInAustralia #Australia #FactsForForeigners
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