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Goods and Services Tax (GST) in Singapore is a value added tax (VAT) of 9% levied on import of goods, as well as most supplies of goods and services. Exemptions are given for the sales and leases of residential properties, importation and local supply of investment precious metals and most financial services. [1]
A tax-free shopping retailer. Tax-free shopping (TFS) is the buying of goods in another country or state and obtaining a refund of the sales tax which has been collected by the retailer on those goods. [1] The sales tax may be variously described as a sales tax, goods and services tax (GST), value added tax (VAT), or consumption tax.
As the Singapore Government's principal revenue collection body, IRAS collects Income Tax, Goods and Services Tax (GST), [4] Property Tax, Estate Duty, Betting and Sweepstakes Duties, Stamp Duties and Casino Tax. Blogging is taxable in Singapore if it constitute gains or profits from a trade or a business under section 10(1)(a) of the Income ...
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Free-trade zones are referred to as "foreign-trade zones" in the United States (Foreign Trade Zones Act of 1934), [5] where FTZs provide customs-related advantages as well as exemptions from state and local inventory taxes. In other countries, they have been called "duty-free export processing zones," "export-free zones," "export processing ...
In economics, zero-rated supply refers to items subject to a 0% VAT tax on their input supplies. The term is applied to items that would normally be taxed under valued-added systems such as Europe's Value Added Tax (VAT) or Canada's Goods and Services Tax (GST). Examples of these items include most exports, basic groceries, and prescription drugs.
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The Sale of Goods Act, [39] an English Act made applicable to Singapore by the Application of English Law Act, sets out legal rules relating to the sale and purchase of goods. The Women's Charter [ 40 ] sets out the law relating to marriage, divorce and separation, family violence, and the protection of women and girls.