Singapore taxation
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Singapore taxation

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Published by Butterworths in Singapore .
Written in English



  • Singapore.


  • Taxation -- Law and legislation -- Singapore.

Book details:

Edition Notes

Includes index.

StatementPok Soy Yoong, Damian Hong Chin Fock.
ContributionsHong, Damian Chin Fock.
LC ClassificationsLAW
The Physical Object
Paginationxvii, 599 p. ;
Number of Pages599
ID Numbers
Open LibraryOL1925341M
ISBN 100409995657
LC Control Number90138258

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Singapore taxation. [Soy Yoong Pok; Damian Chin Fock Hong] -- Textbook on Singapore taxation (income tax), illustrated with practical examples. The law is states as of 31 August The Law and Practice of Singapore Income Tax Detailed, technical and practical – this book brings together tax experts from the public sector, the private sector and academia who have shared their knowledge, expertise and experience in their own areas of specialization. Singapore, an island country in Southeast Asia, is located off the southern edge of the Malay Peninsula, between Malaysia and Indonesia. Its official languages are English, Malay, Chinese, and Tamil, and the currency is the Singapore dollar (SGD). Singapore Taxation in a Nutshell Tax Authorities: Inland Revenue Authority of Singapore (IRAS)– a statutory board under the Ministry of Finance of Singapore, which is responsible for collecting personal income tax, corporate tax, property tax, goods & services tax, betting taxes and stamp duty.

1 Corporate Income Tax General Information Corporate Income Tax Rate. The tax rate is 17%. Companies are entitled to a 40% corporate income tax (‘CIT’) rebate capped at for Year of Assessment (YA) and 20% CIT rebate capped at for YA e-Filing Due Date of Corporate Income Tax Return (Form C-S/ C) paid directly or indirectly by a person resident in Singapore or by a permanent establishment in Singapore; or; David received royalty of $3, from publishing his book in The taxable amount of royalty for YA is 10% of the gross royalty which is $ ($3, x 10%). Under the Singapore Tax Ordinance, an entity has to pay corporate tax under the following conditions: the entity carries on a trade, profession or business in Singapore; IRAS has clarified that the taxation will be based on how much was originally paid for the movable property and not its book value or net worth at any given date. The Income Tax Act of Singapore is the governing statute regarding corporate and individual taxation matters. The Inland Revenue Authority of Singapore (IRAS), was formed in and was formerly known as the Inland Revenue Department. It integrated all the key revenue collection agencies into one body, enabling the administration and.

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 The Year of Assessment (YA) is based on the calendar year commencing 1 January to 31 December, and is payable on a preceding year basis, whereby. Please refer to our e-learning video to have an overview of record-keeping requirements for Income Tax and GST purposes.. GST-registered Businesses. For GST-registered businesses, please refer to the Guide "Record Keeping Guide for GST-registered Businesses (PDF, KB)" for the record keeping requirements for both Income Tax and GST guide also covers requirements for keeping. Wolters Kluwer provides innovative, integrated and customer-focused solutions to professionals in tax, accounting, finance, legal, risk and compliance management. We combine actionable information, subject-matter expertise and cutting-edge technology to deliver a wide range of information services, cloudware, workflow tools and training that. * Singapore operates a one-tier corporate tax system, under which corporate tax paid on a company’s profits is final. Any dividends paid are tax exempt in the hands of the recipient. Note: Lower rates may apply when there is a tax treaty in force. Singapore has concluded more than 80 comprehensive tax treaties as of to-date.