New Delhi : Rikvin, a Singapore company registration specialist has released “Singapore Taxation Report – 2011 Factsheet. The report is a detailed analysis of Singapore’s Tax regime at both the corporate and individual level.

The report examines the various aspects of Singapore’s tax regime – the strongest pull factor for international businesses that setup shop here. Singapore’s policy towards taxation is very simple and straightforward – contrary to the adage “the bigger the better” the city state has one of the lowest tax rates in the region. Companies are charged from 0%-17% while individuals are charged progressively from 0%-20%. By keeping the taxes low and by offering more incentive and tax rebates, that substantially reduces the effective tax rates.

Singapore in spite of the low tax rates is not considered a tax haven and unlike many other international offshore financial centers which are constantly battling with the OECD, Singapore is a widely respected financial center, well-recognized for its rule of law, transparency, and first-world standards.

Managing Director, Mr. James Nuben, of Rikvin says “The factsheet released by Rikvin is a ready reckoner for businesses located in Singapore as well as for companies and entrepreneurs contemplating Singapore incorporation. The low and simple tax system of Singapore is definitely competitive and while the inclusive growth policy of Singapore benefits enterprises both large and small, it has powerful traction on international companies targeting the Asian growth markets. The low tax rates, attracts foreign companies to use Singapore as a launch pad into Asia and its strategic geographic location and cultural affinity further aid the companies in this process. Singapore and India have a Double tax treaty (DTA), which makes it more attractive for Indian companies to set up In Singapore. We believe that Rikvin’s Tax Report will give a clear overview of the taxation regime in Singapore. Further the report reveals that Singapore remains friendly amidst taxing economic challenges”