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On 1 September 1992, the Inland Revenue Authority of Singapore (IRAS) was established by legislation as a statutory board [3] under the Ministry of Finance. With this conversion, IRAS was incorporated by the Inland Revenue Authority of Singapore Act to take over the functions previously performed by the Inland Revenue Department.
The Accounting and Corporate Regulatory Authority (ACRA) is a statutory board under the Ministry of Finance of the Government of Singapore. ACRA is the regulator of business registration, financial reporting, public accountants and corporate service providers.
The Singapore Customs is a government agency under the Ministry of Finance of the Government of Singapore. Singapore Customs was reconstituted on 1 April 2003, after the Customs and Excise Department and the Trade Facilitation Division and Statistics Audit Unit of International Enterprise Singapore (IE Singapore) were merged. [ 1 ]
[15] [16] Since then, the Government plans to increase the Assurance Package by $1.4 billion due to inflation, bringing the total to $8.040 billion. The GST was eventually announced by Finance Minister Lawrence Wong during Budget 2022 (18 February 2022) to be increased in 2 phases, one percentage point each time on 1 January 2023 and 1 January ...
The Act provided for a drawing on the Past Reserves of a sum not exceeding S$11,010,000,000 [18] to alleviate the continuing adverse economic effects caused by the COVID-19 pandemic in Singapore. On 23 March 2022, President Halimah Yacob assented to the Supply Act 2022 after passage in the 14th Parliament and following its introduction by ...
The MOF oversees 3 statutory boards, which are the Accounting and Corporate Regulatory Authority (ACRA), Inland Revenue Authority of Singapore (IRAS) and Tote Board. It also had 3 departments, the Accountant-General's Department (AGD), Singapore Customs [2] and VITAL.
Singapore was the first city in the world to implement an electronic road toll collection system for purposes of congestion pricing. [6] Its use has inspired other cities around the world in adopting a similar system, particularly London 's Congestion Charge Zone (CCZ) , Stockholm 's congestion tax , [ 7 ] and New York City 's Central Business ...
Auditor-General's Office; Agency overview; Formed: 1867 (): Jurisdiction: Government of Singapore: Motto: To audit and report to the President and Parliament on the proper accounting and use of public resources so as to enhance public accountability and help strengthen the financial governance of the public service.