Form of government:A parliamentary republic with a dominant party
Currency:Singapore Dollar (SGD)
Taxation in Singapore
The tax system in Singapore is territorial. It means that the income received from a foreign source and not transferred to a Singapore bank is not subject to taxation. Such a system is quite attractive for foreign investors. At the same time, it is necessary to take into account that the company must be non-resident for the complete exemption from taxes. This status can be obtained if at least there are two members of the Board of Directors who are non-residents of the Republic of Singapore.