Company: EGG
Filing Date: 2025-04-24
Form Type: F-1/A
Source: 0001641172-25-005939
Chunk: 156

Company: ENIGMATIG LTD
Filing Date: 2025-04-24
Form: F-1/A
Chunk 156
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 Assessment 2017 to the Year of Assessment 2023; and (ii) 24.0%, with effect from Year of Assessment 2024, except that Singapore employment income is taxed at 15.0% or at the progressive resident rates, whichever yields a higher tax. However, Singapore generally does not tax individuals on capital gains. A non-resident individual (other than a director of a company, or a public entertainer whose visits are not substantially supported from public funds of the government of another country) exercising a short-term employment in Singapore for not more than 60 days may be exempt from income tax in Singapore.

An individual is regarded as a tax resident in Singapore if in the year preceding the year of assessment, he or she resides in Singapore except for such temporary absences therefrom as may be reasonable and not inconsistent with a claim by such person to be resident in Singapore, and includes a person who is physically present or exercises an employment (other than as a director of a company) for 183 days or more during the year preceding the year of assessment.

It was announced
in the 2024 Budget that a Personal Income Tax rebate of 50.0% of the tax payable, capped at SGD200, will be automatically
granted by IRAS to each Singapore tax resident for the Year of Assessment 2024.

It was further
announced in the 2025 Budget that a Personal Income Tax rebate of 60.0% of the tax payable, capped at SGD200, will be automatically granted
by IRAS to each Singapore tax resident for the Year of Assessment 2024.

Corporate income tax

A Singapore tax resident corporate taxpayer is subject to Singapore income tax on:

| ● | income                                                     
 accrued in or derived from Singapore; and                  |
| ● | foreign-sourced                                            
 income received or considered to be received in Singapore, |

unless otherwise exempted.

Foreign-sourced income in the form of branch profits, dividends and service fee income received or considered to be received in Singapore by a Singapore tax resident corporate taxpayer on or after June 1, 2003 are exempted from Singapore income tax subject to meeting the qualifying conditions.

A non-Singapore tax resident corporate taxpayer, subject to certain exceptions, is subject to Singapore income tax on income accrued in or derived from Singapore, and on foreign-sourced income received or considered to be received in Singapore, unless otherwise exempted.

A company is regarded as tax resident in Singapore if the control and management of the company’s business is exercised