Singapore best ASEAN tax destination

Singapore best ASEAN tax destinationSingapore was ranked 5th out of 185 economes in terms of ease in paying taxes, according to the “Paying Taxes 2013” report compiled by PricewaterhouseCoopers (PwC) and the International Finance Corporation, a World Bank Group member.

In the ASEAN region, Malaysia clinched the 2nd sport and Brunei the 3rd, ranking 15th and 22nd respectively in the global ranking.

Along with the three ASEAN countries, other high-income economies that lowered their taxes during the period are Japan, Korea, Puerto Rico, Slovenia and the UK.

The report, released in November, ranked economies according to the ease that businesses experience in paying taxes.

According to the report, the overall ease of paying taxes was based on “mandatory contributions that a medium-sized company must pay in a given year as well as measuring the administrative burden of paying taxes and contributions”.

Some of the taxes and contributions that were measured included taxes on profit or corporate income, social contributions and labour taxes by the employer, property, property transfer, dividend, capital gains, financial transactions, waste collection vehicle and road taxes and other small taxes or fees.

The report measured ease in paying taxes using three indicators: tax payments, time given to comply and the total rate imposed.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Donation Total: $10.00

 

 

Singapore was ranked 5th out of 185 economes in terms of ease in paying taxes, according to the "Paying Taxes 2013" report compiled by PricewaterhouseCoopers (PwC) and the International Finance Corporation, a World Bank Group member. In the ASEAN region, Malaysia clinched the 2nd sport and Brunei the 3rd, ranking 15th and 22nd respectively in the global ranking. Along with the three ASEAN countries, other high-income economies that lowered their taxes during the period are Japan, Korea, Puerto Rico, Slovenia and the UK. The report, released in November, ranked economies according to the ease that businesses experience in paying taxes....

Singapore best ASEAN tax destinationSingapore was ranked 5th out of 185 economes in terms of ease in paying taxes, according to the “Paying Taxes 2013” report compiled by PricewaterhouseCoopers (PwC) and the International Finance Corporation, a World Bank Group member.

In the ASEAN region, Malaysia clinched the 2nd sport and Brunei the 3rd, ranking 15th and 22nd respectively in the global ranking.

Along with the three ASEAN countries, other high-income economies that lowered their taxes during the period are Japan, Korea, Puerto Rico, Slovenia and the UK.

The report, released in November, ranked economies according to the ease that businesses experience in paying taxes.

According to the report, the overall ease of paying taxes was based on “mandatory contributions that a medium-sized company must pay in a given year as well as measuring the administrative burden of paying taxes and contributions”.

Some of the taxes and contributions that were measured included taxes on profit or corporate income, social contributions and labour taxes by the employer, property, property transfer, dividend, capital gains, financial transactions, waste collection vehicle and road taxes and other small taxes or fees.

The report measured ease in paying taxes using three indicators: tax payments, time given to comply and the total rate imposed.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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