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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 ...
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 ...
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]
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.
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 .
Website. www .acra .gov .sg. The Accounting and Corporate Regulatory Authority ( ACRA) is a statutory board under the Ministry of Finance of the Government of Singapore. ACRA is the regulator of business registration, financial reporting, public accountants and corporate service providers. ACRA is also responsible for developing the accountancy ...
Website. www .cpf .gov .sg. The Central Provident Fund Board ( CPFB ), commonly known as the CPF Board or simply the Central Provident Fund ( CPF ), is a compulsory comprehensive savings and pension plan for working Singaporeans and permanent residents primarily to fund their retirement, healthcare, education and housing needs in Singapore.
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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 ...