The Inland Revenue Authority of Singapore (IRAS) has reported that by April 18, the individual tax filing rate in Singapore had reached a record high of 95% in this year compared to 94% last year. IRAS also added that more taxpayers will benefit from the Auto-Inclusion Scheme (AIS). Currently IRAS expects the number benefiting from that scheme to go up to 1.4 million by 2015. The Auto Inclusion Scheme relieves employers of the need to supply hard copies of certain forms to their employees by entering the details on-line and also permits employees to see details of their remuneration and deductions on-line.
«
Belgium: New tax measures for 2013
Related Posts
Singapore publishes response summary on draft GST guide for implementing invoiceNow for GST-registered businesses
The Inland Revenue Authority of Singapore (IRAS) has released a summary of responses to the draft e-Tax guide on adopting InvoiceNow, an e-invoicing network built on the Peppol framework, for GST-registered businesses. IRAS conducted a Public
Read MoreSingapore passes Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill 2024
The Singapore Parliament has passed the Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill 2024, which introduces changes to the Development and Expansion Incentive (DEI) programme. The Economic Expansion Incentives (Relief
Read MoreSingapore issues advance ruling on classification of hybrid instruments and related matters
The Inland Revenue Authority of Singapore has released Advance Ruling Summary No. 7/2024, addressing the classification of hybrid instruments and related matters on 1 November 2024. Subject: Whether: The fixed rate subordinated
Read MoreSingapore gazettes order declaring MCAA-CbC as international tax compliance agreement with Georgia, Albania
Singapore has published Order No. S 813 in the Official Gazette on 24 October 2024 which officially recognises the Multilateral Competent Authority Agreement (MCAA) on the Exchange of Country-by-Country (CbC) Reports as an international tax
Read MoreSingapore publishes guidance on New Alternative Net Tonnage Basis of Taxation for Shipping Income
The Inland Revenue Authority of Singapore has updated its guidelines regarding the Tax Treatment for Shipping Income which now includes new provisions related to the alternative net tonnage basis of taxation, which will take effect from the year of
Read MoreSingapore passes bills for the implementation of global minimum tax on multinational corporations
Singapore's parliament passed two bills on 15 October 2024 – Multinational Enterprise (Minimum Tax) (Bill No.33/2024) and Income Tax (Amendment) Bill (Bill No. 32/2024.) – which introduces a top-up tax (MTT) and a domestic top-up tax (DTT) for
Read More