In order to promote openness and minimize the mismanagement of corporations, Singapore needs details of proprietors to be maintained in the form of a RORC. These details should be readily available to the ACRA whenever needed.
Taxes in Switzerland are levied at federal, cantonal and local level. Dividends and interests are a subject of the withholding tax, at a rate of 35%, however the withholding tax can be deducted in full, under certain conditions.
In June 2016, the Swiss parliament passed the final corporate tax reform package meant to strengthen Switzerland as a competitive business location for foreign companies or entrepreneurs. The tax reform plan (CTR III) includes several tax reform measures related to the federal and cantonal tax laws.
The Swiss VAT system is mostly in accordance with the European VAT Directive; however there are some important differences that need to be addressed, especially when it comes to foreign suppliers of goods and services
The types of taxes currently existing in Switzerland can be divided into three major categories: federal taxes, cantonal taxes and municipal taxes. In order to avoid overlapping taxation, Switzerland has concluded double taxation agreements with most industrialized countries, to protect foreign investors from double taxation.