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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.
The Government of Singapore invests heavily in education to equip citizens with the necessary knowledge and skills to compete in the global marketplace. [2] Singapore currently spends around a fifth of its national budget on education. [3] To boost its economic standing, the Government of Singapore created a mandate that most Singaporeans learn ...
The initial GST rate of 3% was among the lowest in the world, as the focus was not to generate substantial revenue, but to allow people to get adjusted to the tax. [3] In 2002, the Economic Review Committee reviewed Singapore's tax policy, and recommended that further tax reform was necessary to bring in new investments.
It was founded as Revenue Management Club by Steve Marchant and Tim Rosen in 2003, becoming incorporated as the Revenue Management Society in 2007. [ 31 ] [ 37 ] In 2013, Marchant resigned, and Tim Rosen, with the support of the committee, restructured the organisation (still retaining the company name [ 37 ] ) and started operating under the ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 6 January 2025. Economy of Singapore Skyline of Singapore's Downtown Core Currency Singapore dollar (SGD/S$) Fiscal year 1 April – 31 March Trade organisations WTO, APEC, CPTPP, IOR-ARC, RCEP, ASEAN and others Country group Developed/Advanced High-income economy Statistics Population 6,040,000 (2024 ...
Trade Development Board, formed in 1983 and renamed to International Enterprise Singapore (IE Singapore) in 2002 to support internationalisation, reorganised into Enterprise Singapore (ESG) on 1 April 2018; Competition Commission of Singapore (CCS), formed on 1 January 2005 to enforce competition law.
In September 2022, the Bureau released the updated Primary Education Curriculum Guide, which suggested between 19 and 25% of the student's lesson time should be devoted to national education and national security education. [14] In October 2022, the Education Bureau revealed the "Citizenship, Economics and Society" curriculum, designed for ...
William Farquhar, who served as the first resident of Singapore from 1819 to 1823. On 30 January 1819, Sir Stamford Raffles, an Englishman who was the Governor of Bencoolen (now Bengkulu, Indonesia), entered into a preliminary agreement with the Temenggung of Johor, Abdul Rahman Sri Maharajah, for the British East India Company to establish a "factory" or trading post on the island of Singapore.