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The Auto-Inclusion Scheme (AIS) enables employers to submit the employment income information of their employees to IRAS electronically. [6] The information will then be automatically pre-filled in the employees' income tax assessment. Property owners with rental income may make claims on the total amount of their rental expenses.
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
IRAS warns recipients against providing their personal details in response to a scam email about income tax returns.
An auditor's report is a formal opinion, or disclaimer thereof, issued by either an internal auditor or an independent external auditor as a result of an internal or external audit, as an assurance service in order for the user to make decisions based on the results of the audit.
On 9 December 2024, ACRA launched a revamped version of its Bizfile portal. The portal provides the public with access to various registry filing and business information services. According to ACRA, the key features of the revamped portal included "user-centric design and intuitive navigation features", "enhanced data integrity and governance ...
Auditor-General's Office; Agency overview; Formed: 1867 (): Jurisdiction: Government of Singapore: Motto: To audit and report to the President and Parliament on the proper accounting and use of public resources so as to enhance public accountability and help strengthen the financial governance of the public service.
In the United States, an income tax audit is the examination of a business or individual tax return by the Internal Revenue Service (IRS) or state tax authority. The IRS and various state revenue departments use the terms audit, examination, review, and notice to describe various aspects of enforcement and administration of the tax laws .