Singapore Income Taxation: Chapter 28

Ch.28 Singapore Income Taxation, Singaporelaw.sg (2018)

23 Pages Posted: 18 Jun 2018 Last revised: 11 Dec 2018

See all articles by Vincent Ooi

Vincent Ooi

Singapore Management University - School of Law; Singapore Management University - Centre for AI & Data Governance

Irving Aw

International Monetary Fund (IMF)

Joanna Yap

Withers KhattarWong

Date Written: May 7, 2018

Abstract

Section 10(1) of the Income Tax Act (Cap. 134, 2014 Rev. Ed.) (“ITA”) is the charging provision which provides for income tax to be payable for each year of assessment (“YA”) upon the income of any person. Income is taxable if it falls within one of the enumerated heads of charge under sections 10(1)(a) to (g).

Income is taxable only if it is sourced in Singapore, i.e. accruing in or derived from Singapore, or received in Singapore from outside Singapore, subject to variations.

Only revenue (and not capital) receipts are taxable, and only revenue (and not capital) expenses are deductible for the purpose of computing the taxable income of a person.

Keywords: Tax, Tax Law, Revenue Law

Suggested Citation

Ooi, Vincent and Aw, Irving and Yap, Joanna, Singapore Income Taxation: Chapter 28 (May 7, 2018). Ch.28 Singapore Income Taxation, Singaporelaw.sg (2018). Available at SSRN: https://ssrn.com/abstract=3188822

Vincent Ooi (Contact Author)

Singapore Management University - School of Law ( email )

55 Armenian Street
Singapore, 179943
Singapore

HOME PAGE: http://law.smu.edu.sg/faculty/profile/156436/Vincent-OOI

Singapore Management University - Centre for AI & Data Governance ( email )

55 Armenian Street
Singapore
Singapore

Irving Aw

International Monetary Fund (IMF)

700 19th Street, N.W.
Washington, DC 20431
United States

Joanna Yap

Withers KhattarWong

80 Raffles Place, #25-01 UOB Plaza 1
048624
Singapore

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