The year 2024 marks a pivotal moment for Singaporean business owners. The Goods and Services Tax (GST) in Singapore underwent a significant rate increase from 7% to 9% within the last 2 years. This transition necessitated thorough preparation and strategic foresight for many SMEs. This reviewer should help new Singapore business owners get up to speed on the 2024 GST rate hike and it's impact on your operations moving forward.
Singapore is a global powerhouse in finance and innovation, and its success can be attributed to the significant contributions of foreign workers who make up nearly 40% of its workforce according to the country’s Ministry of Manpower. To attract these skilled professionals, Singapore offers various work visa types that are generally allocated based on the applicants' salaries. This quick guide will walk you through the main work visas for professionals in Singapore.
Singapore has a thriving business environment that's perfect for entrepreneurs and newbies looking to start their own side hustle. From low taxes and progressive banking benefits to other great features, there are plenty of reasons why this bustling Asian city-state is an ideal place to set up shop. In this article, let's take a closer look at the top 7 advantages you could get by incorporating your business in Singapore.
