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Any income arising from sources outside Singapore and received in Singapore on or after 1 January 2004 by an individual (other than partners of a partnership) is exempt from tax. This system has the potential to allow for tax avoidance practiced by individuals who derive income from abroad, gain tax exemptions via their non-resident status ...
The Singapore Income Tax Department was created in 1947 to administer the Income Tax Ordinance enacted during that year. [1] Actual assessing of tax only began in November 1948. In the first Year of Assessment, about 40,000 individual tax returns and 1,000 corporate returns were received.
The Inland Revenue Authority of Singapore under Ministry of Finance (Singapore) is in charge of tax collection. The latest amendment bill is still being made as of March 2016. [1] Under Section 95 of the ITA, convicted taxpayers are subjected to a penalty of up to 200% of the amount of tax undercharged in cases of incorrect tax returns.
[26] [27] The channel shows SARS-related programming, as well as news and infomercials on SARS, broadcasting until 9 July, after all countries are taken off the SARS list. [28] 30 May – Singapore is officially declared SARS-free by the World Health Organization, taking effect the following day. [29] 16 July – SARS is eradicated from Singapore.
Simultaneously, corporate tax rate was cut by 3% to 27%, and the top marginal personal income tax rate was cut by 3% to 30%. The initial GST rate of 3% was among the lowest in the world, as the focus was not to generate substantial revenue, but to allow people to get adjusted to the tax. [3]
The Singapore Tiger Standard, an English morning daily newspaper, was accused as "anti-Merdeka" by S. Rajaratnam, [7] and was closed in 1959 after the People's Action Party came to power. [ 8 ] In 1971, the Government crackdown on newspapers perceived to be under foreign influence or with subversive tendencies; saw the closing of The Eastern ...
Taylor Swift stole the show at an Asian summit Tuesday when Singapore’s leader defended his tiny country's lucrative concert deal that could cause bad blood with neighboring nations. Singapore ...
8world News is a department which produces news, current affairs, and info-ed programmes for two Mediacorp channels aired in Mandarin, Channels 8 and U. Prior to 2010, the news were presented in three timeslots - News 8 At One (Chinese:1點新聞), which airs daily; Singapore Today (Chinese:獅城6點半), and News 8 at 10. (Chinese:10點新聞 ...