Tax collection

Singapore’s wealthiest may be taxed more: DPM Wong

The government is gearing up to help lower-income households deal with inflation, reports Bloomberg.

Singapore’s wealthiest may be taxed more: DPM Wong

The government is gearing up to help lower-income households deal with inflation, reports Bloomberg.

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. 

Updated tax measures revealed in amended Income Tax Bill 2021.

Covered by this bill are updated measures in response to the pandemic.   The Ministry of Finance (MOF) announced today via a press release updated tax measures as a response to both the pandemic and feedback received from public consultation. 

Tax collection declines 7.3% to S$49.6b in FY2020/21

This is due to reduced business activities due to COVID-19.