Taxation

Singapore has a well-structured and business-friendly tax system, characterized by low tax rates, territorial taxation, and various incentives to promote economic growth. Administered by the Inland Revenue Authority of Singapore (IRAS), the tax system includes corporate tax, personal income tax, Goods and Services Tax (GST), and other levies. This article provides an in-depth overview of the Singapore tax system, its components, and key considerations for individuals and businesses. 1. Overview of the Singapore Tax System Singapore’s tax system is designed to be competitive and efficient, with policies that encourage business investment and economic development.… Read more

Malaysia has a structured and progressive tax system, governed by the Inland Revenue Board of Malaysia (Lembaga Hasil Dalam Negeri, LHDN). The tax system includes corporate tax, personal income tax, Goods and Services Tax (GST) (previously replaced by the Sales and Service Tax, SST), and various other indirect taxes. With a mix of direct and indirect taxation, Malaysia’s tax regime plays a crucial role in revenue collection and economic development. This article provides an in-depth overview of the Malaysian tax system, its structure, tax rates, and compliance requirements.… Read more

The US tax system is a complex framework that funds government operations at the federal, state, and local levels. It consists of multiple types of taxes, including income tax, corporate tax, payroll tax, and sales tax, each governed by specific regulations and enforced by the Internal Revenue Service (IRS) and other tax authorities. Understanding the structure and requirements of the US tax system is essential for individuals and businesses to ensure compliance and optimize tax obligations.… Read more

The UK tax system is a structured framework of taxation at national and local levels, administered primarily by His Majesty’s Revenue and Customs (HMRC). It consists of direct taxes such as income tax, corporation tax, and capital gains tax, as well as indirect taxes like Value Added Tax (VAT) and excise duties. Understanding the UK tax system is essential for individuals, businesses, and investors to ensure compliance and optimize tax obligations.… Read more

The UK tax system is a structured framework designed to generate revenue for public services, infrastructure, and government programs. Taxes are levied at national and local levels and are primarily administered by His Majesty’s Revenue and Customs (HMRC). The system includes various forms of taxation, such as income tax, corporate tax, Value Added Tax (VAT), and National Insurance Contributions (NICs). This article provides an overview of the UK tax system, its structure, principles, and the key taxes that individuals and businesses must understand.… Read more