Not quite right. Dividends can only come out of profits. New companies in Singapore get a very significant tax break for the first three years. Thus, there is no corporate tax paid on the profits and if the employees take dividends in lieu of salary or directors fees, there is no personal tax paid either.sundaymorningstaple wrote:+1
Of course, if he didn't declare as dividends, then the company would have paid taxes, which would have been okay, but without the "spend" it's still debatable whether it will fly or not. I expect to see a lot of "Entrepass" companies wound up this year as well as EP rejected because of people trying to abuse the intent of the Pass.
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