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Foreign-sourced dividends, foreign branch profits and foreign-sourced service income remitted into Singapore on or after 1 June 2003 by a Singapore resident company will be tax exempt if: [5] the headline tax rate of the foreign country from which income is received is at least 15 percent in the year the income is received, and
On 1 September 1992, the Inland Revenue Authority of Singapore (IRAS) was established by legislation as a statutory board [3] under the Ministry of Finance. With this conversion, IRAS was incorporated by the Inland Revenue Authority of Singapore Act to take over the functions previously performed by the Inland Revenue Department.
The standard deduction varies according to filing status. In the United States, the standard deduction is higher for older taxpayers (65 and above). If the taxpayer chooses to itemize, such deductions are recorded on Schedule A. Itemized deductions should be supported by documentation which the taxpayer retains after filing the tax return. [14]
Certain kinds of deemed trading receipts are taxed irrespective of the source rule. [9] Tax on these deemed trading receipts are collected by agents or other persons on withholding basis. [10] [11] Tax liability may be measured by reference to gross income or turnover for deemed trading receipts and in case where profits cannot reliably ...
The Ministry of Finance (MOF; Malay: Kementerian Kewangan; Chinese: 财政部; Tamil: நிதி அமைச்சு) is a ministry of the Government of Singapore responsible for managing the fiscal policies and the structure of the economy of Singapore.
A national study discovered that teens in the United States consumed significantly less alcohol and drugs in 2024 compared to past years. Teen alcohol use has steadily decreased from 2000 to 2024 ...
After two consecutive years of more than 20% gains for the S&P 500 — an achievement not seen since the late 1990s — Wall Street strategists foresee a slower pace of gains for the benchmark ...
Cancer is typically treated with surgery, radiation and sometimes chemotherapy. But a new study suggests this standard protocol might not be necessary for a common form of early-stage breast cancer.