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The Comptroller of Income Tax took the position that payments made by the respondent to its subsidiaries pursuant to those swap agreements fell within the ambit of section 12(6) of the Income Tax Act, [47] such that the withholding tax requirements imposed by section 45 of the same statute applied. As the respondent had not complied with the ...
Another non-justiciable area is where the legislature has made it clear that a particular question is reserved to the executive to answer, as in Singapore Airlines which noted that section 18 of the State Immunity Act [157] requires those claiming sovereign immunity from lawsuits to first obtain certification from the Singapore Government. In ...
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.
Pillay M.M. (1977), [81] the respondent was charged for having driven his car into a restricted zone established under the Singapore Area Licensing Scheme without having paid the requisite fee for doing so, contrary to the Motor Vehicles (Restricted Zone and Area Licences) Rules 1975 [82] which had been issued by the Minister for Communications ...
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.
Income tax in Singapore; Inland Revenue Authority of Singapore This page was last edited on 27 November 2022, at 08:52 (UTC). Text is available under the Creative ...
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Foreign-sourced dividends, foreign branch profits and foreign-sourced service income remitted into Singapore on or after 1 June 2003 by a Singapore resident company will be tax exempt if: [5] the headline tax rate of the foreign country from which income is received is at least 15 percent in the year the income is received, and