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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 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 ...
The exemption was one of a series of measures introduced under the Government's Green Transport Plan. A Cycle to Work scheme does not require the prior approval of HMRC. On 6 August 2010 HMRC issued a statement to clarify the fair market value, which should be charged if the employees want to take ownership of the bike at the end of the ...
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 ...
The BCA Green Mark Scheme was launched in 2005 to promote sustainability in the built environment and raise environmental awareness among developers, designers and builders. [8] It assesses the environmental friendliness and energy efficiency of buildings. In 2005, there were only 17 Green Mark building projects in Singapore. [9]
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% ...
Singapore’s tech and AI push While Singapore hasn't announced blockbuster chip subsidies like the U.S., Europe, or India, the country can count on something else: Decades of experience in the ...
Singapore citizens, permanent residents and other registered travelers can use automated lanes called enhanced-Immigration Automated Clearance System (eIACS). The Biometric Identification of Motorbikers (BIKES) System at ICA's land checkpoints can be used by residents and work pass holders entering and leaving Singapore by motorcycles.