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Tax-free shopping (TFS) is the buying of goods in another country or state and obtaining a refund of the sales tax which has been collected by the retailer on those goods. [1] The sales tax may be variously described as a sales tax , goods and services tax (GST), value added tax (VAT), or consumption tax .
Blogging is taxable in Singapore if it constitute gains or profits from a trade or a business under section 10(1)(a) of the Income Tax Act 1947 (ITA). [5] The other tax types in Singapore which are not collected by IRAS are: Levies on motor vehicles (Land Transport Authority) Customs and excise duties (Singapore Customs)
John's and his wife's other income is $12,000 from John's wife's wages (she also got a W-2 but had no pre-tax contributions), $200 interest from a bank account, and a $150 state tax refund. Total Income = $82,200 + $12,000 + $200 + $150 = $94,550.
Any income arising from sources outside Singapore and received in Singapore on or after 1 January 2004 by an individual (other than partners of a partnership) is exempt from tax. This system has the potential to allow for tax avoidance practiced by individuals who derive income from abroad, gain tax exemptions via their non-resident status ...
Singapore assesses a 17% corporate income tax, not including tax incentives, and the city-state does not tax dividends. According to the ITEP, more than 40% of Fortune 500 companies operated a ...
South Africa imposes a fuel tax, in Dec 2020, per (unleaded 93 octane, inland) liter, composed of the Fuel Levy – R3,37, Road Accident Fund levy – R1,93, associated costs – R3,12, and the Basic Fuel Price – R5,81 for a total of R14.23. (R = South African Rand (ZAR) ~ R15 per US$ in Dec 2020) [36]
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Goods and Services Tax (GST) in Singapore is a value added tax (VAT) of 9% levied on import of goods, as well as most supplies of goods and services. Exemptions are given for the sales and leases of residential properties, importation and local supply of investment precious metals and most financial services. [1]