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Resources What are the three possible outcomes in the event of Tax Avoidance? By Medinex Team  |  Oct 2024     If the CIT is of the view that there was tax avoidance, section 33 of the ITA will be invoked to vary the arrangement. Depending on the case facts, any, or a combination, of […]

Resources What is considered an arm’s length remuneration? By Medinex Team  |  Oct 2024   A doctor may consider using either one of the following methods to determine if there has been an arm’s length attribution of income/profit between the company and himself/herself:   Option 1: Market Salary Benchmarking – remunerating the doctor based on

Resources How does IRAS determine if tax avoidance has taken place? By Medinex Team  |  Oct 2024   Based on the e-Tax Guide published on 9 Sep 2024, IRAS adopts the Three-Step Approach. Step 1: Consider whether an arrangement prima facie (i.e, first impression) falls within any of the three threshold limbs of section 33(1) namely:

Resources How does IRAS define tax avoidance? By Medinex Team  |  Oct 2024   The latest e-Tax Guide by IRAS was published on 9 Sep 2024.   The following are the broad considerations that the Comptroller of Income Tax (CIT) would regard as having the effect of tax avoidance within the meaning of section 33(1) of

Resources webinar on e-Tax guide on 22 Nov 2024 by Tax Director, Mr chai yee hoi 4 Things Doctors, Medical Professionals, Practices & Clinics Must Know About The Latest Tax Guide (9 Sep 2024) By Medinex Team  |  Oct 2024   IRAS issued an e-Tax Guide on 9 Sep 2024 targeted at the Incorporation of

Resources How Corporate Secretarial Services can enhance performance of SMEs and Businesses By Medinex Team  |  Sep 2024   In the dynamic realm of business, many companies face a multitude of operational challenges beyond providing top-notch products or services. One crucial aspect that often goes under the radar is corporate governance. Corporate secretarial services are

Resources How To Improve Your Business Results Through Audit By Medinex Team  |  Aug 2024   Auditing is commonly regarded as a statutory necessity, but it may also be an effective tool for improving corporate performance. By thoroughly reviewing your company’s financial statements, operations, and internal controls, you may spot inefficiencies, hazards, and chances for

Resources How To Select the Right Audit Firm for Singapore’s Small and Medium-Sized Companies (SMEs) By Medinex Team  |  Jul 2024     In Singapore’s thriving economic landscape, small and medium-sized enterprises (SMEs) have an important role in driving growth and innovation. These businesses are typically the foundation of the economy, contributing significantly to employment

Resources Why Corporate Financial Management matters for companies?  By Medinex Team   |   Jun 2024   Financial management is the planning, organizing, directing and controlling of a company’s financial activities such as cash flow, procurement and use of funds.  In general, it involves applying management principles to financial resources to effectively manage your money and achieve

Resources What Do Auditors Look For In A Company Audit? By Medinex Team  |  Jun 2024   Auditors serve an important role in ensuring the accuracy and transparency of financial reports. They verify that a company’s financial accounts are accurate and in accordance with applicable legislation and standards. The auditing process is complex, with numerous