Singapore will begin taxing foreign-sourced disposable gains from January 1, 2024, with Parliament approving the amendments to the country’s Income Tax Act.
If you’re working in Singapore, chances are, you probably need to pay tax. Here in Singapore, we follow a progressive personal income tax rate that starts at 0 per cent and maxes out at 22 per cent for employment and self-employment incomes above $320,000. Thankfully, there is no capital gain or inheritance tax. Think that this is all too cheem.
KUALA LUMPUR, March 12 ― The Malaysian government may have exempted individuals in the country who are earning foreign-source from paying tax, but this may only be temporary, according to DAP leader Lim Guan Eng. The former finance minister said that there was “no guarantee that it will not be.
KUALA LUMPUR: CGS-CIMB is taking a positive view of the tax exemption on foreign-sourced dividends for corporates as it would reduce the earnings risks for companies with large overseas investments.