Category: Insights

The gradual shift in the world’s economic gravity to the eastern hemisphere has been well leveraged by Singapore, with its strategic location and growing appeal as an international hub for wealth management and financial services. Singapore has topped the world ranking in terms of ease of doing business for close to a decade. Many global businesses benefit from locating their head quarter operations in Singapore.

Dhruva’s ‘Doing Business in Singapore’ publication provides a concise synopsis on the critical aspects of doing business in Singapore with highlights on taxation, audit & accountancy as well as other related business matters.

Located in the heart of Asia, Singapore has emerged as a leading wealth management hub due to its favourable business environment and stable tax policy. It serves as one of the most attractive locations for fund managers as well as investors, including sovereign wealth funds, pension funds and family offices. Moreover, its friendly yet robust tax and regulatory environment holds sway over the financial sector.

Our publication of ‘Fund Management in Singapore: Tax and regulatory landscape’ summarises various tax incentives for fund managed by Singapore-based fund managers, MAS licensing requirements and other related aspects.

The recent amendments undertaken by Inland Revenue Authority of Singapore (IRAS) to the Singapore Income Tax Act (‘SITA’) in October 2017 and the release of Income Tax (Transfer Pricing Documentation) Rules 2018 (the TPD Rules) along with release of the 5th edition to Singapore Transfer Pricing Guidelines (the Singapore TP Guidelines) in February 2018, raises quite a few questions. This document lists out some of the frequently asked questions and provides answers to these FAQs.