Comprehensive Guide to Income Taxes In Singapore

Content

List Of Singapore Tax System For Expats, Foreigners And Citizens
Understanding Singapore Income Tax
8 Terms You Need To Know Before Filing Income Tax
Common Mistakes To Avoid In Filing Income Tax Returns
Singapore Income Tax Tips To Save Money

Brief History Of Singapore Tax System

Currently, Singapore has a very highly developed market economy. Its economy has been labelled one of the most innovative, most business-friendly and most competitive economies in the world.

The following is a brief look at its current position on taxes regarding capital gains and income, residential property and taxation of foreigners vis-a-vis Singaporeans.

There are some words we dread as adults, and the term income tax brings about as much joy as finding out that your favourite watering hole is no longer doing happy hour. Singapore Taxes

The income tax in Singapore is divided into two categories; personal income tax and corporate income tax. Personal or individual income tax is the tax on individual’s income. Corporate income tax is the tax levied on the profits that corporate entities make. Both types of income taxes comprise of income earned in Singapore, as well as that earned in foreign countries for individuals and corporate firms.

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