Search results
Results From The WOW.Com Content Network
Any income arising from sources outside Singapore and received in Singapore on or after 1 January 2004 by an individual (other than partners of a partnership) is exempt from tax. This system has the potential to allow for tax avoidance practiced by individuals who derive income from abroad, gain tax exemptions via their non-resident status ...
Students have to take a test at Primary 4 to determine whether they could remain homeschooled. Primary education is free for all Singapore citizens in schools under the purview of the Ministry of Education, though there is a monthly miscellaneous fee of up to SGD 13 per student. [26]
After this period, they are no longer considered residents of Portugal for tax purposes. [93] Singapore requires its citizens and Singapore Permanent Residents born in 1980 or later to pay CareShield Life premiums no matter where they reside. CareShield Life is a government-operated disability insurance program. Severely disabled claimants can ...
The Inland Revenue Authority of Singapore under Ministry of Finance (Singapore) is in charge of tax collection. The latest amendment bill is still being made as of March 2016. [1] Under Section 95 of the ITA, convicted taxpayers are subjected to a penalty of up to 200% of the amount of tax undercharged in cases of incorrect tax returns.
IRAS collected S$47 billion in tax revenue in FY2016/17. [7] Tax arrears remained low at 0.68% of net tax assessed and cost of collection was also kept low at 0.84 cents for every dollar collected. In FY2016/17, IRAS uncovered 10,626 non-compliant cases and recovered about $332 million in taxes and penalties through rigorous audits and ...
Private school leaders have warned the combination of tax hikes in the Budget and the removal of their charitable status, which saw fees exempted from VAT, could lead the sector to “fall apart”.
Hungary is unique as it is the only non-developing country (the other, developing country being Eritrea, at a flat 2%) that considers all of its citizens tax residents, and provides no personal allowance (such as the US foreign earned income exclusion) – income is taxed from the first penny earned. [15]
Singapore's non-resident workforce increased 170% from 248,000 in 1990 to 670,000 in 2006 (Yeoh 2007). By 2010, the non-resident workforce had reached nearly 1.09 million, of these 870,000 were low- skilled foreign workers in Singapore; another 240,000 were skilled foreign worker, better-educated S-pass or employment pass holders.