Taxation in Singapore 2024/2025 Edition
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Chapter 2. Concept of Income
Chapter 3. Tax Deductions
Chapter 4. Capital Allowances
Chapter 5. Taxation of Companies
Chapter 6. Taxation of Individuals
Chapter 7. Taxation of Partnerships
Chapter 8. Taxation of Non-Residents
Chapter 9. Taxation of Foreign Income
Chapter 10. Goods and Services Tax
Chapter 11. Stamp Duty
Extracts of Income Tax Act 1947
The current law governing income tax in Singapore is the Income Tax Act 1947 (2020 Revised Edition) which came into operation on 31 December 2021. This Act has undergone major re-numbering which took effect from 31 December 2021 and the new provisions, similar to the previous 2022/2023 edition, are also reflected in the current 2024/2025 edition of this book.
This book is written in an attempt to reach out to four groups of people. It is suitable for students pursuing basic income tax courses in the local universities and polytechnics. It will also serve as a good guide for candidates preparing for professional examinations in Singapore taxation, such as ACCA and the Singapore CA Qualification by ISCA. As this book attempts to explain the tax laws in plain simple language, it should appeal to non-tax professionals and anyone who wants to attain a higher appreciation of Singapore tax laws, regulations and practice. Last, but not least, the materials presented in this book should serve as good reference, particularly for junior staff who just started work.