Forum
Last updated: 

will i still pay taxes when my company went bankrupt?

A lot of entrepreneurs are building their own printing company and one of those entrepreneurs include me. But of course, there are some things that are inevitable. I have been scammed and I invested to this company. It turns out that they are those scammers that always get away because of their good defense and highest quality lawyers. I have no choice but to close my company because it went bankcrupt. And that is why I'm wondering if I'm still going to pay my taxes.

User comments

  • user image

    No Name

    A debtor can voluntarily file for bankruptcy in Singapore if they owe and cannot repay debts of at least S$15,000. If the debtor is declared bankrupt, their assets will be sold and the proceeds put into a bankruptcy estate. This excludes any assets that are protected from bankruptcy, such as HDB flats.

    2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

How does wage garnishment work?

Do people who are handicapped excempted to tax?

When I loan from someone are they suppose to add taxes?

What law do taxpayers violate when they ask for more?

Middleman to contact all the person in debt

Is the taxes that have been added to me is legal?

Related Reviews

They offer a low brokerage fees with access to most overseas markets

They have a very much improved user interface compared to years ago. Standard chartered bank is really making an effort to compete with other brokerages and offers no custodian fees, while Shares are not kept in CDP. They offer a low brokerage fees with access to most overseas markets. However, their foreign exchange rate is not very good but the make up with a good watch list and price quote interface. You are able to see buying power, portfolio and stock info.

Standard Chartered LiveFX / Standard Chartered Bank Singapore

Offers better trading conditions for retail clients

iOCBCfx is a properly regulated Singaporean forex broker. Despite having a somewhat limited forex portfolio, when compared to other local forex brokers, it still offers better trading conditions for retail clients; lower deposit, higher leverage, even though much lower than that of larger international brokers, and tighter spreads. In some respect they are comparable to those of the global players present in Singapore and can turn out to be very helpful for those who wish to do business with a local broker.

iOCBC FX Platform / OCBC Securities

Shorter tenors as short as one week to suit your unique needs

This platform offers wider choices, shorter tenors as short as one week to suit your unique needs, you can diversify your investment holdings by expanding into Premium Currency Investments to gain more exposure to foreign currencies to suit your needs. You stand to earn interest at a rate that’s potentially higher than that of conventional fixed deposits and enhance the returns on your investment portfolio.

Standard Chartered Premium Currency Investments / Standard Chartered Bank Singapore

The commission is a minimum $1

I signed up for a pre-funded account last year, commission rate were very low. But if I can share a little hack as it were, indicate an amount higher than $100 for MIP because if you do so your commission rate would be more than 1%.For example, if you indicate $100 for a stock priced at $25, they would purchase 3 units for you as they take into consideration their fees in that $100. The commission is a minimum $1, thus your commission rate is approx. 1.33% instead of 1%

Maybank Forex / Maybank Kim Eng Securities

They also offer free investment classes monthly at their different outlets

The offer a good prepaid account fees as compared to other platforms. I have been using it for a while to buy dividend stocks (ie. STI index), as it is simple to put in orders. They also offer free investment classes monthly at their different outlets where you can learn more about how to use the Phillip POEMS platform, or other beginner investment knowledge.

Phillip Futures Forex / Phillip Futures

Forex Trading services via MetaTrader 4, MT4 Mobile, Oanda Desktop and Web trading platforms

OANDA is a Forex Broker offering Forex Trading services via MetaTrader 4, MT4 Mobile,Oanda Desktop and Web trading platforms. Regarding orders execution model, OANDA is a b-book broker that is a market maker. OANDA offers trading of currencies, indices, bonds, CFDs and commodities. OANDA is regulated by the CFTC (USA), the FCA (UK), the Monetary Authority of Singapore and the ASIC (Australia). This information should help to put your mind to rest knowing they are regulated.

OANDA Forex / OANDA Asia Pacific