Singapore's agreement with Malta for the avoidance of double taxation comes into effect on 29 February 2008. The agreement will specify clearly the taxing rights of each country on all types of income earned from 1 January 2009.

The text of the Second Reading Speech by Mrs Lim Hwee Hua, Minister Of State For Finance And Transport On The Customs (Amendment) Bill is below.

Singapore's agreement with Estonia for the avoidance of double taxation comes into effect on 27 December 2007. The agreement will specify clearly the taxing rights of each country on all types of income earned from 1 January 2008.

The text of the Second Reading Speech by Minister Of State For Finance And Transport, Mrs Lim Hwee Hua on The Income Tax (Amendment No. 2) Bill 2007 is below.

The Ministry of Finance (MOF) has accepted most of the suggestions on the Income Tax (Amendment) Bill 2007 that were received during the public consultation exercise held from 15 June to 14 July 2007. A total of 29 comments were received, most of the feedback being from professional bodies and companies. All the suggestions received were constructive and were each considered carefully by MOF. Of these, 21 suggestions were accepted and have been incorporated into the final draft Bill.

An Agreement for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income between the Government of the Republic of Singapore and the Government of the State of Qatar comes into force on 5 October 2007. The provisions of this Agreement will apply to income derived on or after 1st January 2008.

The revised Agreement for the Avoidance of Double Taxation (DTA) between Singapore and China was signed on 11 July 2007 by Mr Moses Lee, Commissioner of Inland Revenue from Singapore and Mr Wang Li, Deputy Commissioner of State Administration of Taxation from China. The ratification process for the revised DTA has now been completed and the DTA enters into force on 18 September 2007.

Peru’s Minister for Foreign Trade and Tourism, Ms Mercedes Araoz and Singapore’s Minister for Trade and Industry, Mr Lim Hng Kiang today announced the successful conclusion of negotiations for the Peru-Singapore Free Trade Agreement.

An Agreement for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income between the Republic of Singapore and the Republic of Kazakhstan enters into force on 14 August 2007 following the completion of ratification formalities. The provisions of this Agreement shall cover income derived on or after 1st January 2008.

The "myTax Portal" – IRAS' one-stop portal that provides round-the-clock e-services to taxpayers was officially launched by Mrs Lim Hwee Hua, Minister Of State For Finance And Transport on 28 June 2007 at the Revenue House.

The Ministry of Finance invites members of the public to give their comments on proposed amendments to the Income Tax Act (ITA).

The Ministry of Finance (MOF) is conducting a public consultation exercise on Avoidance of Double Taxation Agreements (DTAs) from 23 April 2007 to 1 June 2007.

Singapore signed her 61st Agreement for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income with Ukraine. Mr. Tharman Shanmugaratnam, Second Minister for Finance, signed on behalf of Singapore while Mr. Mykola Azarov, First Vice Prime Minister and Minister for Finance, signed on behalf of Ukraine. The signing took place in conjunction with Mr. Azarov’s visit to Singapore.

An Agreement for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income was signed today between the Republic of Singapore and the Kingdom of Morocco.

The new Agreement for the Avoidance of Double Taxation between Singapore and Germany comes into effect on 12 December 2006. This follows the completion of ratification formalities and exchange of ratification instruments in Berlin.

Prime Minister announced in Parliament on 13 Nov 2006 that GST will be raised to 7%. Details of the raise and the offset package will be announced on 15 February 2007, which is Budget Day.

The Property Tax Surcharge (Abolition) Bill was introduced in Parliament to repeal the Property Tax (Surcharge) Act as it is no longer necessary to impose a surcharge on the property tax of properties held by foreigners.

The Ministry of Finance (MOF) has accepted 28 out of 49 suggestions related to the drafting of the Income Tax (Amendment) Bill 2006, that were received during the consultation exercise held from 9 June to 8 July 2006.

An Agreement for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income was signed today between the Government of the Republic of Singapore and the Government of the Republic of Kazakhstan.

An Agreement for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income was signed today between the Government of the Republic of Singapore and the Government of the Republic of Estonia.

The Ministry of Finance invites members of the public to give their comments on proposed amendments to the Goods and Services Tax ("GST") Act.

A Third Protocol to the Agreement for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income (DTA) between the Government of the Republic of Singapore and the Government of New Zealand enters into force on 17 August 2006.

The Inland Revenue Authority of Singapore (IRAS), has teamed up with the Law Society of Singapore and four international accounting firms (Deloitte & Touche, Ernst & Young, KPMG and PricewaterhouseCoopers) to set up the Tax Academy of Singapore.

An Agreement between the Government of the Republic of Singapore and the Government of the Slovak Republic for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income enters into force on 12 June 2006 following the completion of ratification process. Its provisions shall have effect on income derived on or after 1 January 2007.

The Ministry of Finance invites members of the public to give their comments on proposed amendments to the Income Tax Act (ITA).