Company: EGG
Filing Date: 2025-03-04
Form Type: DRS/A
Source: 0001493152-25-008991
Chunk: 156

Company: ENIGMATIG LTD
Filing Date: 2025-03-04
Form: DRS/A
Chunk 156
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 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 in Singapore. “Control and management” is defined by IRAS on its website located at https://www.iras.gov.sg/taxes/corporate-income-tax/basics-of-corporate-income-tax/tax-residency-of-a-company-certificate-of-residence (last accessed: March 3, 2025) as the making of decisions on strategic matters, such as those concerning the company’s policy and strategy. Generally, the location of the company’s board of directors meetings where strategic decisions are made determines where the control and management is exercised. Therefore if the board of directors meets and conducts the company’s business in Singapore, the company is likely to be regarded as tax resident in Singapore. Furthermore, a board of directors meeting which involves the use of virtual meeting technology will generally be regarded as having strategic decisions made in Singapore if either of the following conditions is met: (a) at least 50%