2021-08-25
Newsletter_202105（Singapore）
2021-08-04
FOZL Company Brochure
2021-06-24
Newsletter_202102（Singapore）
2021-06-24
Newsletter_202101（Singapore）
2021-06-24
Newsletter_20210304（Singapore）
2021-04-15
Things to note for Singapore VCC taxation VCC, either is non-umbrella VCC or an umbrella VCC comprising two or more sub-funds, it will be recognised as a single entity for income tax purpose. However, each sub-fund of an umbrella VCC is regarded as a separate person for GST purposes. Similar to companies incorporated under Companies Act, a VCC is considered a tax resident in Singapore for the assessment year if the control and management of the VCC’s business is exercised in Singapore for that year. The tax residence of a sub-fund follows that of its umbrella VCC. This means that […]
2021-04-13
Variable Capital Companies (VCC) in Singapore About Variable Capital Companies (VCC) The Variable Capital Company (VCC) is a new corporate structure for investment funds constituted under the Variable Capital Companies Act which took effect on 14 Jan 2020. The VCC will complement the existing suite of investment fund structures available in Singapore. Some key features of a VCC A VCC has a variable capital structure that provides flexibility in the issuance and redemption of its shares. It can also pay dividends out of capital, which gives fund managers flexibility to meet dividend payment obligations. A VCC can be set up as a […]
2021-03-10
World’s First: China Takes the Lead on “Vaccine Passport” Starting this week, China is at the forefront of the world’s so-called “vaccine passport” by offering its citizens a “health certificate for international travel”. The digital health certificate, which can be downloaded on Chinese social media WeChat starting Monday, records data on vaccinations and new crown tests. （Source: The Straits Times) During the “two sessions” in Beijing, Chinese State Councilor Foreign Minister Wang Yi said the health certificate is a “practical Chinese solution” to facilitate the world’s economic recovery and the movement of people across borders. However, the use of the […]
2021-03-08
Singapore is world’s freest economy Singapore’s economy has been ranked the most free in the world this year in the Heritage Foundation’s 2021 Index of Economic Freedom, the second year in a row it topped the list. The Republic scored 89.7 points, with its overall score having increased by 0.3 points from 2020, primarily because of an improvement in points gained for government spending, the conservative Washington think-tank said on Thursday (March 4). Singapore’s score placed it far ahead of both the regional average for 40 countries in the Asia Pacific (60.2) and the world average (61.6).It was followed in […]
2021-02-25
Singapore Budget 2021: What should Business Owners know? In February 2021, Singapore’s Deputy Prime Minister, Coordinating Minister for Economic policy and Minister of Finance, Mr Heng Swee Keat, delivered the government’s budget statement for the fiscal year 2021. The budget for the new fiscal year is entitled “Emerging Stronger Together”. The Singapore government allocated $100 billion to fight the epidemic last year. The Singapore government has launched five budgets plans last year to combat the epidemic, with a total allocation of nearly $100 billion to help the nation’s people and businesses weather the storm and ensure the safety of all. […]
2020-10-27
FOZL Assurance PAC has been officially established! If your business needs Internal, External and Special Audit services, please contact us at LinkedIn /Facebook：FOZL GROUP WhatsApp：+65 97128810 Wechat：fozl888 Since its inception in 2011, FOZL Group has provided one-stop incorporation services to thousands of local and overseas companies in Singapore. Our services include company incorporation, accounting, internal audit, tax filing, trademark registration, corporate consultancy, personal consultancy and co-sharing office space etc. Increasing numbers of large multinational corporations and organisations had been approaching FOZL to enquire about independent third party auditing services. Thus, we are glad to announce the establishment of our […]
2020-08-17
What is GST The Goods and Services Tax or GST is a broad-based consumption tax that is levied on imported goods (collected by Singapore Customs) and on almost all supplies of goods and services in Singapore. In other countries, GST is known as Value Added Tax or VAT. GST exemptions apply to the provision of most financial services, the supply of digital payment tokens, the sale and rental of residential property, and the import and local supply of investment precious metals. The rate of tax on exported goods and international services is zero. Businesses required to register for GST […]
2020-08-17
GST Filing Completing GST Return Before Filing Your GST F5 Return The form GST F5 Return has fifteen boxes that you must fill. You can access your GST returns by logging in to myTax Portal. All figures reported in the GST Return must be in Singapore Currency. If you have transactions in foreign currency, please refer to Foreign currency transactions on how you should report them in Singapore currency. Even if you do not have any transactions during the prescribed accounting period, you are still required to e-File a nil return (i.e. fill in ‘0’ for all boxes). For more details, you may […]