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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.
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 ...
Contact us; Donate; Contribute Help; ... (27.5% income tax rate applied to annual income exceeding BR$55,976.15 ... Taxation in Singapore
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income.
An Act to impose a tax upon incomes and to regulate the collection thereof. Status: In force. The Income Tax Act 1947 (ITA) is an Act of the Singaporean Parliament to impose a tax upon incomes and to regulate the collection thereof. It was commenced together with the formation of the Inland Revenue Authority of Singapore .
I. Income tax in Singapore. Inland Revenue Authority of Singapore. Categories: Economy of Singapore. Singapore government policies. Singaporean law by issue. Taxation by country. Public finance of Singapore.
Contact us; Donate; Contribute Help; ... gross and net income (after taxes) average wages for full-time employees in their local currency and in US Dollar ...
Contact us; Donate; Contribute Help; ... 1 Tax rate details? ... 1 comment. Toggle the table of contents. Toggle the table of contents. Talk: Income tax in Singapore ...