Search results
Results from the WOW.Com Content Network
IRAS collected S$47 billion in tax revenue in FY2016/17. Tax arrears remained low at 0.68% of net tax assessed and cost of collection was also kept low at 0.84 cents for every dollar collected. In FY2016/17, IRAS uncovered 10,626 non-compliant cases and recovered about $332 million in taxes and penalties through rigorous audits and investigation.
Individual income tax. Individual income tax in Singapore is payable on an annual basis, it is currently based on the progressive tax system (for local residents and tax residents), with taxes ranging from 0% to 22% since Year of Assessment 2017. The Year of Assessment (YA) is based on the calendar year commencing 1 January to 31 December, and ...
International taxation is the study or determination of tax on a person or business subject to the tax laws of different countries, or the international aspects of an individual country's tax laws as the case may be. Governments usually limit the scope of their income taxation in some manner territorially or provide for offsets to taxation ...
As of June last year, Singapore had 197,300 foreigners on employment passes out of a total foreign workforce of about 1.5 million. The country has a population of 5.9 million.
Goods and Services Tax ( GST) in Singapore is a value added tax (VAT) of 9% levied on import of goods, as well as most supplies of goods and services. Exemptions are given for the sales and leases of residential properties, importation and local supply of investment precious metals and most financial services. [1]
Stamp duty is a tax that is levied on single property purchases or documents (including, historically, the majority of legal documents such as cheques, receipts, military commissions, marriage licences and land transactions). A physical revenue stamp had to be attached to or impressed upon the document to show that stamp duty had been paid ...
Map of the world showing national-level sales tax / VAT rates as of October 2019. Additional local taxes may apply. [citation needed]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.
Singapore nationality law details the conditions by which a person holds Singapore nationality. The primary law governing nationality requirements is the Constitution of Singapore, which came into force on 9 August 1965. Individuals born to at least one Singapore citizen parent are typically automatically citizens at birth, regardless of where ...