Tax collection
Singapore eyes 15% top-up tax on MNEs to prevent foreign tax losses
Additional revenues from the top-up taxes will be used to enhance the local business environment.
Singapore eyes 15% top-up tax on MNEs to prevent foreign tax losses
Additional revenues from the top-up taxes will be used to enhance the local business environment.
Tax revenue up 13.1% YoY in FY22/23
The government collected $68.6b in tax revenue for the period.
Singapore’s wealthiest may be taxed more: DPM Wong
The government is gearing up to help lower-income households deal with inflation, reports Bloomberg.
Tax collections edge 22.4% higher to $60.7b in FY2021: IRAS
A total of $12.6b are from GST collections.
Longer grace periods for companies under new tax frameworks: IRAS
The frameworks were co-developed with the Big 4 accounting firms.
Expert counters call for petrol tax holiday
The KPMG analyst said it’s necessary to retain petrol and diesel taxes.
An expert from KPMG countered calls for a petrol tax holiday amidst rising fuel costs.
Tax measures needed to help businesses adapt: Deloitte
This is in order to attract businesses despite the decline in economic activity.
IRAS disburses $28.2b grants to support businesses, jobs in pandemic
The value was published in a release by IRAS.
Tax collection declines 7.3% to S$49.6b in FY2020/21
This is due to reduced business activities due to COVID-19.
Commentary
Offshore wind power needs Singapore’s expertise as Asia’s reliance on fossil fuels rises