In 2018, two articles in The Straits Times described how some professionals were incorporating one or more companies in an attempt to gain tax advantages. The issue was the difference between the highest personal income tax rate of 22 per cent and the corporate tax rate of 17 per cent, which...

The issue of whether the incorporating of companies by professionals in Singapore constitutes tax avoidance has attracted considerable attention. The recent case of GCL v. CIT provides some guidance in this area. It reaffirms the general two-part test in CIT v. AQQ, requiring one to first apply...

OVER the past few weeks, there has been much interest in the issue of tax avoidance and whether high-earning professionals such as doctors and dentists have been engaging in tax avoidance schemes. Tax avoidance is a technical legal term which has a precise meaning in law. This can be compared to...