My suspicion is it is somewhere in the points I quoted above. At first glance, your company to me sounds like a mechanism for you to be be employed and remain in Singapore, and not much else.lordligan wrote: - Second year I had an entrepreneur pass since I established my own company (PTE LTD).
- 90% share holder.
- My company paid up capital S$50.000.
- The first year my company had S$200.000 + profit.
- Projected profit 2012 S$250.000 – 300.000
- No local employees.
... this maybe?lordligan wrote:- No local employees.
Bet you have also taken the balance of income in Dividend income. If so, they are wise to that tax dodge and that may well be another reason... They are not as stupid as you would like to think they are. You also need to remember that now ALL the individual Government databases in Singapore are now linked so it's no problem to garner all the info with the deft entry of your FIN number (which is also your tax number as well).lordligan wrote:Bluenose. I am not sure when you say they should apply sooner? Anyway my secretary is responsible for doing that application, and she submit the application more than 2 month prior expire of my current entrepass, and we still have some time left .
When it comes to your salary question mark. Of course I charge my clients higher than that per month, but I don’t need to go into all the details on how I run the company financially, but of course its related to tax. Since I submitted all my accounts and other details to MOM it might be that they got a bit "pissed" of that my salary was so much lower than it could/should be that’s why I have officially reported it to be higher this time with effect from 1/5/2012.
To sum up the comments so far:
1. Company with no local employees.
2. Salary to low.
Obviously number one I cant do anything about, second one I have already done some adjustment. I will try to make an appointment with the MOM officer when I get back to Singapore and see what we can sort out.
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