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GST was implemented at a single rate of 3% on 1 April 1994, with an assurance that it would not be raised for at least five years. To cushion the impact of GST on Singaporean households, an offset package was also introduced. Simultaneously, corporate tax rate was cut by 3% to 27%, and the top marginal personal income tax rate was cut by 3% to 30%.
In 1998, the government initiated a study, the Singapore Water Reclamation Study (NEWater Study), to determine if reclaimed water treated to potable standards was a viable source of water. In order to facilitate the new integrated approach, the Public Utilities Board , which had previously been in charge of water supply only, was given the ...
The Goods and Services Tax (GST) is an abolished value-added tax in Malaysia. GST is levied on most transactions in the production process, but is refunded with exception of Blocked Input Tax, to all parties in the chain of production other than the final consumer. The existing standard rate for GST effective from 1 April 2015 is 6%.
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UOB economist Barnabas Gan expects Singapore GST will rise to 9% from as early as 1 July, adding revenue of S$1.8 billion for 2022.
The list focuses on the main types of taxes: corporate tax, individual income tax, and sales tax, including VAT and GST and capital gains tax, but does not list wealth tax or inheritance tax. Personal income tax includes all applicable taxes, including all unvested social security contributions.
Within this choice set, the preferred water tariff depends on multiple factors including: the goals of water pricing; the capacity of a water services supplier to allocate its costs, to price water, and to collect revenues from its customers; the price responsiveness of water consumers; and what is considered to be a fair or just water tariff. [4]
Blogging is taxable in Singapore if it constitute gains or profits from a trade or a business under section 10(1)(a) of the Income Tax Act 1947 (ITA). [5] The other tax types in Singapore which are not collected by IRAS are: Levies on motor vehicles (Land Transport Authority) Customs and excise duties (Singapore Customs)