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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)
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
The statutory boards of the Government of Singapore are autonomous organisations that have been tasked to perform an operational function by legal statutes passed as Acts in the Parliament of Singapore. The statutes define the purpose, rights and powers of each authority. These organisations would usually subsequently report to one specific ...
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.
The President is empowered under the Constitution to appoint the Auditor-General in accordance with the advice of the Prime Minister. The Audit Act 1966 imposes a duty on the Auditor-General to audit the accounts of all departments and offices of the Singapore Government (including the office of the Public Service Commission ), the accounts of ...
Under the Harris/Biden proposal, all households with more than $100 million in net assets would pay a minimum tax of 25% on their combined income and unrealized capital gains. This would most ...
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 .