Tax collection
Singapore eyes 15% top-up tax on MNEs to prevent foreign tax losses
Singapore eyes 15% top-up tax on MNEs to prevent foreign tax losses
Additional revenues from the top-up taxes will be used to enhance the local business environment.
Tax revenue up 13.1% YoY in FY22/23
The government collected $68.6b in tax revenue for the period.
Singapore’s wealthiest may be taxed more: DPM Wong
The government is gearing up to help lower-income households deal with inflation, reports Bloomberg.
Tax collections edge 22.4% higher to $60.7b in FY2021: IRAS
A total of $12.6b are from GST collections.
Longer grace periods for companies under new tax frameworks: IRAS
The frameworks were co-developed with the Big 4 accounting firms.
Expert counters call for petrol tax holiday
The KPMG analyst said it’s necessary to retain petrol and diesel taxes.
An expert from KPMG countered calls for a petrol tax holiday amidst rising fuel costs.
Tax measures needed to help businesses adapt: Deloitte
This is in order to attract businesses despite the decline in economic activity.
Updated tax measures revealed in amended Income Tax Bill 2021.
Covered by this bill are updated measures in response to the pandemic.
The Ministry of Finance (MOF) announced today via a press release updated tax measures as a response to both the pandemic and feedback received from public consultation.
IRAS disburses $28.2b grants to support businesses, jobs in pandemic
The value was published in a release by IRAS.
Tax collection declines 7.3% to S$49.6b in FY2020/21
This is due to reduced business activities due to COVID-19.
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