Singapore Ratifies Double Tax Treaty With Nigeria

Singapore has ratified the Double Tax Agreement (DTA) earlier signed between the country and Nigeria. See link to our previous tax alert.

The DTA is based on the OECD Model Tax Convention and enters into force in Singapore on 1 November 2018 with an effective date of 1 January 2019. In addition to reduced tax rates such as in the case of withholding tax on certain income, the protocol to the DTA also provides for non-discrimination. This means any benefit […]

By |August 17th, 2018|

Third Quarter 2018 Tax Planning Update

As you are now keenly aware, with the passage of the Tax Cuts and Jobs Act (TCJA) in December 2017, the individual and business tax codes have been dramatically overhauled, with many changes effective in 2018 and beyond. Below we highlight several easy-to-apply tax planning opportunities for 2018.
Take Advantage of Lower Tax Rates
In general, the tax rates in 2018 are lower than in 2017, with the highest bracket being reduced from 39.6 percent to […]

By |August 15th, 2018|

Section 965 Proposed Regulations Issued

On August 1, 2018, the Internal Revenue Service and the Department of the Treasury issued proposed regulations on the Section 965 transition tax, which was enacted under the Tax Cuts and Jobs Act. Section 965 levies a one-time transition tax on US shareholders on the accumulated offshore earnings in certain offshore companies and many taxpayers owe this tax with respect to their 2017 US tax year.

The proposed regulation package is significant and covers a […]

By |August 9th, 2018|