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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.
Cycle to Work scheme is a UK Government tax exemption initiative introduced in the Finance Act 1999 to promote healthier journeys to work and to reduce environmental pollution. It allows employers to loan cycles and cyclists' safety equipment to employees as a tax-free benefit.
Online Business Licensing Service (OBLS) is a one-stop portal for applying for the required Singapore government licences in a single online transaction. The service routes all applications to various government agency for processing. The World Bank has ranked Singapore first in the Ease of Doing Business Index. The OBLS system contributes to ...
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.
The Singapore government has argued that reducing the rate of GST would benefit the wealthy more than the poor, as the bulk of GST is collected from foreigners and higher-income earners. In 2010, 84.2% of all GST paid was collected from foreigners and the top 40% of Singaporean households, while the bottom 20% of households contributed only 4% ...
The portal provides the public with access to various registry filing and business information services. According to ACRA, the key features of the revamped portal included "user-centric design and intuitive navigation features", "enhanced data integrity and governance", and "strengthened personal data protection".
These articles describe the various policies of the Government of Singapore and address the motivation, issues, deliberation, implementation and effect of these policies. Subcategories This category has the following 3 subcategories, out of 3 total.
The 1996 Rail Financing Framework was a scheme that set out the financing framework of the rail transport system. In the white paper, it was phrased that the financing framework of the rail transport system would eventually be run on the basis of partnership, which the government and its regulatory authority would provide the assets and infrastructure (which remain fully owned by the ...