COVID-19 IRAS Property Tax Support Measures
IRAS property tax bills in Singapore are traditionally sent by the Inland Revenue Authority of Singapore (IRAS) on December 31 each year, while property owners can also use the IRAS property tax calculator to estimate their 2020 property tax payment. This property tax bill reflects the amount to be paid for each property based on…
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Tax Dept
Safety Measures for IRAS Income Tax Filing YA2020
The Singapore tax season traditionally starts in March to April when annual tax filing begins for both nationals and foreigners. However, the recent health emergency triggered by the coronavirus outbreak has caused changes to deadlines and affected this year’s tax payments, filing procedures, and schedules. In this regard, the Inland Revenue Authority of Singapore (IRAS)…
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Tax Dept
Solidarity Budget 2020 (3rd Round of Strong Support Measures)
On 6 April 2020, the Singapore Deputy Prime Minister and Minister for Finance, Heng Swee Keat unveiled in Parliament, a 3rd round of a strong enhanced support measures to help tide business, workers and households through the COVID-19 outbreak which had taken a sharp turn both globally and locally. The 1st Budget (Unity Budget) was…
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Tax Dept
Singapore Tax Guide: Income Tax Act
Foreign companies looking to set up subsidiaries in Singapore should be well aware of the local corporate taxation laws. It is also vital for local business owners to keep abreast with the latest tax regulations in the country. The Income Tax Act of Singapore is the law that governs both individual and corporate taxation matters.…
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Tax Dept
Personal Income Tax Rates in Singapore and in Asia
Individuals are required to file annual income tax returns to the Inland Revenue Authority of Singapore (IRAS) and pay income tax at the local prevailing personal income tax rate charged on chargeable income. This applies to Singaporean citizens (SCs) and to Permanent Residents (PRs) as well as foreigners deriving income in Singapore. Singapore’s personal income…
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