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ACRA is the regulator of business registration, financial reporting, public accountants and corporate service providers. ACRA is also responsible for developing the accountancy sector and setting the accounting standards for companies, charities co-operative societies, and societies in Singapore.
Register of Tax Liens – register of tax liens put on a collateral, either a movable, such as a vehicle (a road vehicle, a rolling stock vehicle, an aircraft, a boat, or a ship, excluding ships registered by one of the 2 maritime chambers in the Register of Ships, because they are covered by a dedicated instrument called ship mortgage), other ...
Any income arising from sources outside Singapore and received in Singapore on or after 1 January 2004 by an individual (other than partners of a partnership) is exempt from tax. This system has the potential to allow for tax avoidance practiced by individuals who derive income from abroad, gain tax exemptions via their non-resident status ...
Know your business or simply KYB is an extension of KYC laws implemented to reduce money laundering. KYB is a set of practices to verify a business. It includes verification of registration credentials, location, the UBOs (ultimate beneficial owners) of that business, etc.
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Goods and Services Tax (Singapore) I. Income tax in Singapore; Inland Revenue Authority of Singapore
A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.