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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 ITA grants any person including Singaporeans in Singapore the right to pay income tax upon the income accruing in or derived from Singapore, or received in Singapore from outside Singapore. The Inland Revenue Authority of Singapore under Ministry of Finance (Singapore) is in charge of tax collection .
The Central Provident Fund Board (CPFB), commonly known as the CPF Board or simply the Central Provident Fund (CPF), is a compulsory comprehensive savings and pension plan for working Singaporeans and permanent residents primarily to fund their retirement, healthcare, and housing [3] needs in Singapore.
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The Complete List of All of Oprah’s Book Club Picks. Show comments. Advertisement. Advertisement. In Other News. Entertainment. Entertainment. Associated Press.
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 ...
The MOF oversees 3 statutory boards, which are the Accounting and Corporate Regulatory Authority (ACRA), Inland Revenue Authority of Singapore (IRAS) and Tote Board. It also had 3 departments, the Accountant-General's Department (AGD), Singapore Customs [2] and VITAL.
When SAFTI (Singapore Armed Forces Training Institute) was reorganised in 1995, it acquired the name SAFTI Military Institute, further abbreviated as SAFTI MI, which when fully expanded would form a rather awkward title Singapore Armed Forces Training Institute Military Institute.