Search results
Results from the WOW.Com Content Network
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
There are several types of IRAs: Traditional IRA – Contributions are mostly tax-deductible (often simplified as "money is deposited before tax" or "contributions are made with pre-tax assets"), no transactions within the IRA are taxed, and withdrawals in retirement are taxed as income (except for those portions of the withdrawal corresponding to contributions that were not deducted).
Environmental Protection and Management (Amendment) Act 2011; Income Tax (Amendment) Act 2011; Insurance (Amendment) Act 2011; Goods and Services Tax (Amendment) Act 2011; Legal Profession (Amendment) Act 2011; Private Lotteries Act 2011; Retirement Age (Amendment) Act 2011; Singapore University of Technology and Design Act 2011; Stamp Duties ...
Download as PDF; Printable version; ... Goods and Services Tax (Singapore) I. Income tax in Singapore;
The Sale of Goods Act, [39] an English Act made applicable to Singapore by the Application of English Law Act, sets out legal rules relating to the sale and purchase of goods. The Women's Charter [ 40 ] sets out the law relating to marriage, divorce and separation, family violence, and the protection of women and girls.
A Roth IRA is an individual retirement account (IRA) under United States law that is generally not taxed upon distribution, provided certain conditions are met. The principal difference between Roth IRAs and most other tax-advantaged retirement plans is that rather than granting an income tax reduction for contributions to the retirement plan, qualified withdrawals from the Roth IRA plan are ...