GST revenue made up the third-largest share of Iras’ revenue collection, at 20.5 per cent. Read more at straitstimes.com.
SINGAPORE – Tax collection here rose by $7.9 billion in the last financial year compared with the previous year, amid higher goods and services tax revenue and as the post-pandemic economic recovery lifted corporate earnings.
Tax revenue collection rose across most tax types, with corporate income tax growing by $4.9 billion to $23.1 billion.Meanwhile, individual income tax rose by $1.3 billion to $15.5 billion due to higher personal incomes. It accounted for 8.7 per cent of revenue collection, at $6 billion, while property tax of $5.1 billion made up 7.4 per cent.
Looking ahead, the taxman will continue to scale up the use of data and technology to deliver personalised and anticipatory services, and aim to make processes more seamless for taxpayers through digital partnerships, he added.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore Tonight - Singapore Tonight Tue 5 Sep 2023From business to politics, health to technology, we bring you up-to-date with the latest news on Singapore and analyze how these events may affect you tomorrow.
Read more »
Billion-dollar money laundering case: Man financed purchase of 10 units at luxury condo Canninghill PiersSINGAPORE — A man implicated in one of Singapore’s biggest money laundering probes&n
Read more »
Tax revenue gets bumper rise of 13.1% to $68.6b amid post-pandemic economic recoveryGST revenue made up the third-largest share of Iras’ revenue collection, at 20.5 per cent. Read more at straitstimes.com.
Read more »
Jurong GRC residents worry about rising cost of living and GST hikeLocal residents told the opposition party Red Dot United they couldn't cope with the rise in GST this year and were worried because it would go up even further next year.
Read more »
Two men charged over suspected GST missing trader fraud involving S$55 million in fictitious salesAnother man was also charged in court for allegedly breaching his director's duties, said the authorities.
Read more »
Companies in Singapore expanding mental health and wellness benefits for employeesSome employers offer life coaching, access to self-care apps and mental health insurance coverage. Read more at straitstimes.com.
Read more »