LexisNexis Practical Guidance: Singapore Tax, 2017
Posted: 22 Jan 2018
Date Written: September 1, 2017
When one or more individuals decide to start a business, they can select an appropriate business vehicle from a range of options. There are many commercial and legal reasons which may help to determine that choice.
Aside from tax considerations, other major issues to consider include:
• the limitation of liability if a company or limited liability partnership is used;
• the expectations of suppliers and customers;
• the ease of administration, including closing down, of an unincorporated business, and
• the requirement to publish information such as profits and remuneration in the case of companies
All of these factors should be taken into account when choosing a business vehicle.
In addition to these commercial and legal reasons, the tax treatment for each form of vehicle is often a key factor to consider.
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