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The GST rate was increased from 3% to 4% on 1 January 2003, and to 5% on 1 January 2004. Each increase was accompanied by an offset package that was designed to make the average Singaporean household overall better off, even after accounting for the additional costs imposed by the increase in GST rates.
Map of the world showing national-level sales tax / VAT rates as of October 2019. A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
The rate for GST, effective since 1 October 2010 is 15%. [77] This 15% tax is applied to the final price of the product or service being purchased and goods and services are advertised as GST inclusive. Reduced rate GST (9%) applies to hotel accommodation on a long-term basis (longer than 4 weeks).
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The Golden Mile Complex is a commercial and residential development, providing offices, shopping, entertainment services and apartment living within its podium and stepped terrace structure, resulting in a modern architectural style known as Brutalism. [12] It housed 360 shops, 200 offices and 72 residential apartments when completed in 1973. [5]
The project has added at least 46,450 square metres (500,000 square feet) of new office space and about 700 to 800 hotel rooms. [ 4 ] [ 5 ] [ 7 ] The CDL Consortium has proposed to adopt an environmental design and green technology to create a distinctive, high-quality development that fits in well with Singapore's tropical climate and urban ...
Both the latter and Hotel Michael (11-storey hotel named after Michael Graves, topped out on 15 July 2009 and was opened on 20 January 2010), sits on the area of the former Sentosa Musical Fountain. The hotel also features Crockfords Premier, a casino club with private rooms for high rollers located on the 10th floor.
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
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