Tax liability as an offshore company in Singapore

[FossyE]

Hi,

We operate a in Germany registered limited liability / holding company (GmbH). With that we have opened an offshore account in Singapore. The plan is to open another time deposit account and a stock trading account there. The idea is NOT tax avoidance but geographical diversification. The investment income would be declared as normal to the German tax office and presumably partially withheld by the bank in Singapore.

Do we need a tax number in Singapore and do we have to file a tax statment with the tax authorities in Singapore in case we have investment income?

Please advise.

Thanks!
Peter

 

[euinchina]

FossyE said:
Hi,

We operate a in Germany registered limited liability / holding company (GmbH). With that we have opened an offshore account in Singapore. The plan is to open another time deposit account and a stock trading account there. The idea is NOT tax avoidance but geographical diversification. The investment income would be declared as normal to the German tax office and presumably partially withheld by the bank in Singapore.

Do we need a tax number in Singapore and do we have to file a tax statment with the tax authorities in Singapore in case we have investment income?

Please advise.

Thanks!
Peter
Click to expand...

Afaik Singapore has no capital gain tax but might be taxable if the trade is business profit driven.