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Following self-government in 1959, the Inland Revenue Department was formed in 1960 when various revenues administered and collected by a number of separate agencies were brought together. When Singapore attained independence on 9 August 1965, substantial changes were made to the Income Tax Act, which came into effect on 1 January 1966.
Individual income tax. Individual income tax in Singapore is payable on an annual basis, it is currently based on the progressive tax system (for local residents and tax residents), with taxes ranging from 0% to 22% since Year of Assessment 2017. The Year of Assessment (YA) is based on the calendar year commencing 1 January to 31 December, and ...
Blk 147 Simei Street 2. Singapore 52 0 147. Blk 147 Tampines Avenue 5. Singapore 52 1 147. Similarly, for a HDB residential block sharing the same number as another block in the same postal sector, but have an added suffix behind are differentiated by their postal codes as follows: Blk 150 Bishan Street 11.
An Act to impose a tax upon incomes and to regulate the collection thereof. Status: In force. The Income Tax Act 1947 (ITA) is an Act of the Singaporean Parliament to impose a tax upon incomes and to regulate the collection thereof. It was commenced together with the formation of the Inland Revenue Authority of Singapore .
Goods and Services Tax ( GST) in Singapore is a value added tax (VAT) of 9% levied on import of goods, as well as most supplies of goods and services. Exemptions are given for the sales and leases of residential properties, importation and local supply of investment precious metals and most financial services. [1]
A Singapore Sling is a tax avoidance scheme in which a large multinational company sells products to a subsidiary owned by them in a jurisdiction with lower tax rates, which acts as a 'marketing hub'. The subsidiary then sells the product to end users, marking up its value and attributing the mark-up to various marketing activities undertaken ...
The Government of Singapore is defined by the Constitution of the Republic of Singapore to consist of the President and the Executive. Executive authority of Singapore is vested in the President but exercised on the advice of the Cabinet led by the Prime Minister. The President, acting as the Head of State, may only act in their discretion in ...
Welcome to the Singapore Portal. Map of Singapore. Singapore, officially the Republic of Singapore, is an island country and city-state in maritime Southeast Asia. It is located about one degree of latitude (137 kilometres or 85 miles) north of the equator, off the southern tip of the Malay Peninsula, bordering the Strait of Malacca to the west ...
The Inland Revenue Authority of Singapore (IRAS) is a statutory board founded in 1992 and under the Ministry of Finance for the collection of taxation revenue. Under section 65F of the Income Tax Act, and section 83E of the Good and Services Tax Act, an officer of IRAS may
I. Income tax in Singapore. Inland Revenue Authority of Singapore. Categories: Economy of Singapore. Singapore government policies. Singaporean law by issue. Taxation by country. Public finance of Singapore.