Search results
Results from the WOW.Com Content Network
State and local income tax refunds, to the extent previously deducted. These are generally excluded from gross income for state and local income tax purposes. Any other income from whatever source. Even income from crimes is taxable and must be reported, as failure to do so is a crime in itself. [23]
Following self-government in 1959, the Inland Revenue Department was formed in 1960 when various revenues administered and collected by a number of separate agencies were brought together. When Singapore attained independence on 9 August 1965, substantial changes were made to the Income Tax Act, which came into effect on 1 January 1966.
Main page; Contents; Current events; Random article; About Wikipedia; Contact us; Pages for logged out editors learn more
Some fringe benefits (for example, accident and health plans, and group-term life insurance coverage up to $50,000) may be excluded from the employee's gross income and, therefore, are not subject to federal income tax in the United States. Some function as tax shelters (for example, flexible spending, 401(k), or 403(b) accounts).
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 ...
Statutes of the Singapore Parliament, as well as English statutes in force in Singapore by virtue of the Application of English Law Act 1993, [4] are published in looseleaf form in a series called the Statutes of the Republic of Singapore, which is gathered in red binders, and are also accessible on-line from Singapore Statutes Online, a free ...
The average annual salary of ministers is about 1.1 million Singapore dollars (nearly $834,000), according to the government. The last corruption case involving a Singaporean minister was in 1986.
The other type of Swedish payroll tax is the income tax withheld , which consists of municipal, county, and, for higher income brackets, state tax. In most municipalities, the income tax comes to approximately 32 percent, with the two higher income brackets also paying a state tax of 20 or 25 percent respectively.