Search results
Results from the WOW.Com Content Network
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.
An immigration tariff or migrant levy is a charge levied on immigrants wanting permanent residency within a nation. [1] [2] [3] As a means of applying price theory to a nation's immigration policy, it is generally advocated as an alternative to existing bureaucratic procedures as a means of moderating or better regulating the flow of immigration to a given level.
In April 1987, the Singapore government announced its immigration policy, which intended to control the foreign worker inflow. The two key elements in the policy were a monthly levy payable by the employer for each foreign worker employed, and a "dependency ceiling" that limits the proportion of foreign workers in the total workforce of any one ...
The Ministry of Manpower (MOM; Malay: Kementerian Tenaga Manusia; Chinese: 新加坡人力部; Tamil: மனிதவள அமைச்சு) is a ministry of the Government of Singapore responsible for the formulation and implementation of policies related to the workforce in Singapore.
Singapore on Monday announced new work visa rules to woo foreign talent as the Asian financial hub looks to bolster its recovery from the COVID-19 pandemic. The measures include a new five-year ...
In 2000, there were about 600,000 foreign workers in Singapore, constituting 27% of the total work force. As a result, wages are relatively suppressed or do not rise for all workers. To have some controls, the government imposes a foreign worker levy payable by employers for low end workers like domestic help and construction workers. [122]
Employers are regulated in the proportion of foreign workers (called the "dependency ratio ceiling") and must pay a tax called the foreign worker levy for each foreign worker. The maximum foreign worker quota and levy vary by industry and skill of the workers. The government reports the numbers of foreign workers annually. In 2005, economist ...
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