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The Singapore Income Tax Department was created in 1947 to administer the Income Tax Ordinance enacted during that year. [1] Actual assessing of tax only began in November 1948. In the first Year of Assessment, about 40,000 individual tax returns and 1,000 corporate returns were received.
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.
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
However, you can still make an after-tax, or non-deductible, contribution to a traditional IRA. In contrast, contributions to a Roth IRA account are made with after-tax income. Like a traditional ...
Economic Expansion Incentives (Relief from Income Tax) (Amendment) Act 2016; Employment Claims Act 2016; Final Supply (FY 2015) Act 2016; Fire Safety (Amendment) Act 2016; Goods and Services Tax (Amendment) Act 2016; Government Technology Agency Act 2016; Income Tax (Amendment) Act 2016; Income Tax (Amendment No. 2) Act 2016; Income Tax ...
IRAS warns recipients against providing their personal details in response to a scam email about income tax returns.
Upload file; Special pages; ... Goods and Services Tax (Singapore) I. Income tax in Singapore; Inland Revenue Authority of Singapore
The Accounting and Corporate Regulatory Authority (ACRA) is a statutory board under the Ministry of Finance of the Government of Singapore.ACRA is the regulator of business registration, financial reporting, public accountants and corporate service providers.