#GSTRateChange Do you know how much GST will be charged, for transactions that span the rate change? It all depends on when the invoice is issued, whether payment is made and if the goods/services have been delivered/performed. Read on for some scenarios you might find yourself in!
👉🏼 More info on the transitional rules for the rate change
👉🏼 More info on the transitional rules for the rate change
Thank you for filing your Corporate Income Tax Return on time. Choose digital payment modes when paying your company’s taxes for greater convenience!
#CorporateIncomeTax2023
Find out more about the different payment modes here 👈🏻
#CorporateIncomeTax2023
Find out more about the different payment modes here 👈🏻
From calculating your property tax payable to the one-off rebate you may be entitled to, here are all the things you need to know about your 2024 property tax bill.
- The Government will provide a one-off property tax rebate of up to 100% for all owner-occupied residential properties.
- All one- and two-room HDB owner-occupiers will continue to pay no property tax in 2024.
-For the rest of the owner occupiers in other HDB flat types and private properties, the rebate will be automatically offset against any property tax payable in 2024.
👉 More details at https://www.iras.gov.sg/news-events/newsroom/property-tax-rebate-for-all-owner-occupied-residential-properties-in-2024
#PropertyTax2024
- The Government will provide a one-off property tax rebate of up to 100% for all owner-occupied residential properties.
- All one- and two-room HDB owner-occupiers will continue to pay no property tax in 2024.
-For the rest of the owner occupiers in other HDB flat types and private properties, the rebate will be automatically offset against any property tax payable in 2024.
👉 More details at https://www.iras.gov.sg/news-events/newsroom/property-tax-rebate-for-all-owner-occupied-residential-properties-in-2024
#PropertyTax2024
Oops❗️Spotted a mistake in your #CorporateIncomeTax2023 Return? Taxpayers who come forward voluntarily to correct errors in their tax returns may have their penalties reduced under the Voluntary Disclosure Programme if they meet the qualifying conditions.
Find out more here 👈🏻
Watch this video 👀
Find out more here 👈🏻
Watch this video 👀
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IRAS | Voluntary Disclosure of Errors for Reduced Penalties
The IRAS Voluntary Disclosure Programme (VDP) encourages taxpayers who have made errors in their tax returns to come forward voluntarily, in a timely manner, to correct their errors.
Did you know: IRAS reviews the Annual Value (AV) of residential properties regularly to help ensure that all properties are fairly assessed on a yearly basis. 🏠
To determine the AV of a residential property, IRAS valuers analyse market rents of comparable properties within its development.
👉 More details at https://www.iras.gov.sg/news-events/newsroom/property-tax-rebate-for-all-owner-occupied-residential-properties-in-2024
#PropertyTax2024 #UnderstandingAV #AnnualValue
To determine the AV of a residential property, IRAS valuers analyse market rents of comparable properties within its development.
👉 More details at https://www.iras.gov.sg/news-events/newsroom/property-tax-rebate-for-all-owner-occupied-residential-properties-in-2024
#PropertyTax2024 #UnderstandingAV #AnnualValue
Last week, Singapore participated in the meetings of the Global Forum on Transparency and Exchange of Information for Tax Purposes in Portugal, Lisbon. The 16th Global Forum Plenary Meeting was attended by 420 participants from 115 jurisdictions.
As a panellist at the 16th Global Forum Plenary Meeting, Mrs Chia-Tern Huey Min, IRAS’ Deputy Commissioner, attributed the success of the multilateral tax transparency forum to its inclusiveness. Members participate on equal footing and decisions are made on the basis of consensus, thereby giving its work broad-based legitimacy. She also shared her thoughts on the future processes of the Global Forum. Singapore has been participating in the Global Forum since its inception in 2009. From 2016 to 2022, Singapore served as the Chair of Peer Review Group, and prior to that, as its Vice-Chair. Singapore is currently a member of the Steering Group.
As a panellist at the 16th Global Forum Plenary Meeting, Mrs Chia-Tern Huey Min, IRAS’ Deputy Commissioner, attributed the success of the multilateral tax transparency forum to its inclusiveness. Members participate on equal footing and decisions are made on the basis of consensus, thereby giving its work broad-based legitimacy. She also shared her thoughts on the future processes of the Global Forum. Singapore has been participating in the Global Forum since its inception in 2009. From 2016 to 2022, Singapore served as the Chair of Peer Review Group, and prior to that, as its Vice-Chair. Singapore is currently a member of the Steering Group.
At the end of the Plenary Meeting, Ms Zayda Manatta, the Global Forum Head of Secretariat, thanked Huey Min for her active role in the Global Forum, appreciating her constructive and balanced views that contributed to fair and equitable outcomes.
The Global Forum is a key international tax transparency platform, and IRAS will continue to actively participate and contribute to global developments in tax transparency.
The Global Forum is a key international tax transparency platform, and IRAS will continue to actively participate and contribute to global developments in tax transparency.
#GSTRateChange Only GST-registered businesses can charge GST from their effective date of GST registration. You can check if a business is GST-registered at https://go.gov.sg/gst-registered-business-search.
Non-GST registered businesses are not allowed to charge GST.
Non-GST registered businesses are not allowed to charge GST.
Watch this video to find out how businesses and individuals can benefit from eGuarantee@Gov! 🙌
Learn more at www.eguarantee.gov.sg
Learn more at www.eguarantee.gov.sg
YouTube
eGuarantee@Gov
eGuarantee@Gov is an initiative to digitalise the process to provide banker’s guarantees and insurance bonds to government agencies.
How do businesses and individuals benefit from eGuarantee@Gov? Watch to find out ⬆️
For more details, visit www.eguarantee.gov.sg
How do businesses and individuals benefit from eGuarantee@Gov? Watch to find out ⬆️
For more details, visit www.eguarantee.gov.sg
#ICYMI, companies must pay the tax stated in the Notice of Assessment (NOA) within 1 month from the date of the NOA. Any objections must be filed via the “Revise/ Object to Assessment” digital service at myTax Portal within 2 months from the date of the NOA. 🔍#CorporateIncomeTax2023
More on tax payment 👈🏻
More on what happens after filing Form C-S/ Form C-S (Lite)/ Form C
More on tax payment 👈🏻
More on what happens after filing Form C-S/ Form C-S (Lite)/ Form C
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Is delulu the solulu? At least, she gained some tax tips on Supplementary Retirement Scheme (SRS) contributions! 💰🤣
Grow your savings by contributing to your SRS Account today! You will be eligible for tax reliefs in Year of Assessment 2024 if you make contribution to your SRS Account by 31 Dec 2023*.
SRS contributions are capped yearly at $15,300 for Singapore Citizens and Permanent Residents and $35,700 for foreigners.
Do note that there is an overall cap of $80,000 on the total amount of all tax reliefs that can be claimed (including any relief on SRS contributions) for a year.
Details and qualifying conditions:
https://www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax/special-tax-schemes/srs-contributions
*You are advised to check with your SRS bank operator about the cut-off date for SRS contributions.
#taxtips #retirement #invest #skit #girlsvsguys #irassg #iras
Grow your savings by contributing to your SRS Account today! You will be eligible for tax reliefs in Year of Assessment 2024 if you make contribution to your SRS Account by 31 Dec 2023*.
SRS contributions are capped yearly at $15,300 for Singapore Citizens and Permanent Residents and $35,700 for foreigners.
Do note that there is an overall cap of $80,000 on the total amount of all tax reliefs that can be claimed (including any relief on SRS contributions) for a year.
Details and qualifying conditions:
https://www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax/special-tax-schemes/srs-contributions
*You are advised to check with your SRS bank operator about the cut-off date for SRS contributions.
#taxtips #retirement #invest #skit #girlsvsguys #irassg #iras