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Ian Kuperus, an accountant and former IRD employee, is credited with coming up with the idea of tax pooling. He identified the opportunity for taxpayers to trade their under- and overpayments of tax and take advantage of the interest rate differential while leading the tax division at the National Bank, after the government introduced use of money interest in 1988.
Allen & Gledhill LLP is a Singaporean law firm with a regional network of associate firms and offices. [1] As the largest of Big Four law firms in Singapore, [2] the firm is a regional market leader in many practices, [3] particularly banking and finance, capital markets, corporate law, M&A law, and other transactional and advisory matters. [4]
It is the first charity foundation to be set up by a law firm in Singapore. [55] Rajah & Tann is a participant of FLIP, a two-year pilot initiative launched by the Singapore Academy of Law in 2017. It aims to promote the adoption of technology by law firms and brings together lawyers, technology firms, investors, regulators and academics. [56]
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 firm was renamed Rodyk & Davidson. The firm was the first foreign law office to be granted a license for Shanghai and established its Shanghai office in 1996. They practice in corporate law, finance law, intellectual property & technology, litigation & arbitration, and real estate with a specialist practice in competition.
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.
The firm and its partners have been profiled in the Asia-Pacific Legal 500, Chambers Asia, Asia Law Profile, Who’s Who Legal, Managing Intellectual Property Magazine, and Asian Legal Business. The firm also operates Donaldson & Burkinshaw (I.P.) Sdn. Bhd. in Kuala Lumpur, Malaysia, which handles Malaysian intellectual property matters.
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 ...