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The GST rate was increased from 3% to 4% on 1 January 2003, and to 5% on 1 January 2004. Each increase was accompanied by an offset package that was designed to make the average Singaporean household overall better off, even after accounting for the additional costs imposed by the increase in GST rates.
This is an accepted version of this page This is the latest accepted revision, reviewed on 17 February 2025. Economy of Singapore Skyline of Singapore's Downtown Core Currency Singapore dollar (SGD/S$) Fiscal year 1 April – 31 March Trade organisations WTO, APEC, CPTPP, IOR-ARC, RCEP, ASEAN and others Country group Developed/Advanced High-income economy Statistics Population 6,040,000 (2024 ...
2 April – Joseph Schooling, who won Singapore's first ever Olympic gold medal, retires from swimming at 28. [25]15 April – Lee Hsien Loong announces his resignation as the Prime Minister of Singapore effective on 15 May 2024, paving the way for the assumption of Deputy Prime Minister and Finance Minister Lawrence Wong as the next Prime Minister of Singapore.
UOB economist Barnabas Gan expects Singapore GST will rise to 9% from as early as 1 July, adding revenue of S$1.8 billion for 2022.
19 August – The Museum of Ice Cream attraction in Singapore is officially opened in Loewen Road, located at the fringe of Orchard Road shopping district. 21 August – The National Day Parade 2021 takes place at The Float @ Marina Bay. This is the last major event and is followed by The National Day Parade 2022 before The Float makes way for ...
Foreign-sourced dividends, foreign branch profits and foreign-sourced service income remitted into Singapore on or after 1 June 2003 by a Singapore resident company will be tax exempt if: [5] the headline tax rate of the foreign country from which income is received is at least 15 percent in the year the income is received, and
Total Merchandise Trade Value with Singapore, 2021 (S$ bil) % of Singapore Merchandise Trade Total Total Services Trade Value with Singapore, 2020 (S$ bil) % of Singapore Services Trade Total China Chinese yuan: CNY People's Bank of China: 164.3 14.16 40.0 7.99 Malaysia: Malaysian ringgit: MYR Bank Negara Malaysia: 128.7 11.09 11.4 2.29
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