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Personal Service Companies And The Tax Avoidance Surcharge In Singapore, Vincent Ooi, Ben Chester Cheong

Research Collection Yong Pung How School Of Law

Incorporation of personal service companies provide tax and non-tax advantages. With the introduction of a tax avoidance surcharge in Singapore, incorporation for non-tax advantages risks additional “tax costs” if challenged by the revenue authorities, introducing uncertainty and litigation costs. Instead of relying on a GAAR, targeted measures should restrict tax advantages to the first company incorporated by each individual taxpayer.