Halsbury’s Laws of Singapore (Vol 16(2): Revenue and Taxation- Income Tax), (2020) (LexisNexis)
Posted: 16 Aug 2019
Date Written: January 1, 2020
Singapore imposes a single tax on income. Capital gains are not taxable. Income tax was first sought to be introduced in Singapore more as a war tax in 1917 and has had a chequered history of introduction, application and repeal from 1917 till 1941, including a period from 1923 till 1940 without income tax. A new system of income taxation was established in 1947 and has continued to be part of the law since.
Keywords: Tax Law, Taxation
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