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As of 2010, the top marginal rates for corporate tax stood at 17% and personal income tax at 20%, with effective rates being much lower. As a gesture of goodwill, and to assist lower-income groups, several supermarket chains absorbed the 2% increase in GST, ranging for a period of one month to six months.
Map of the world showing national-level sales tax / VAT rates as of October 2019. Additional local taxes may apply. [citation needed]A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
Individual income tax. Individual income tax in Singapore is payable on an annual basis, it is currently based on the progressive tax system (for local residents and tax residents), with taxes ranging from 0% to 22% since Year of Assessment 2017. The Year of Assessment (YA) is based on the calendar year commencing 1 January to 31 December, and ...
t. e. This article lists countries alphabetically, with total tax revenue as a percentage of gross domestic product (GDP) for the listed countries. The tax percentage for each country listed in the source has been added to the chart. According to World Bank, "GDP at purchaser's prices is the sum of gross value added by all resident producers in ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 28 September 2024. Economy of Singapore Skyline of Singapore's Downtown Core Currency Singapore dollar (SGD/S$) Fiscal year 1 April – 31 March Trade organisations WTO, APEC, CPTPP, IOR-ARC, RCEP, ASEAN and others Country group Developed/Advanced High-income economy Statistics Population 5,917,600 (Jun ...
2021–2023 inflation surge. Following the COVID-19 pandemic in 2020, a worldwide surge in inflation began in mid-2021 and lasted until mid-2022. Many countries saw their highest inflation rates in decades. It has been attributed to various causes, including pandemic-related economic dislocation, supply chain disruptions, the fiscal and ...
Ministry of Finance. Website. www.iras.gov.sg. Agency ID. T08GB0020K. Revenue House, the headquarters of the Inland Revenue Authority of Singapore, at Novena, photographed in May 2006. The Inland Revenue Authority of Singapore (IRAS) is a statutory board under the Ministry of Finance of the Government of Singapore in charge of tax collection.
Singapore Post Limited (SGX: S08 ), commonly abbreviated as SingPost, is an associate company of Singtel [2] and Singapore 's designated Public Postal Licensee which provides domestic and international postal services. It also provides logistics services in the domestic and international markets, warehousing and fulfillment, and global delivery ...