Singapore: Possible tax measures in budget for 2018 | KPMG Global
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Singapore: Possible tax measures in budget for 2018

Singapore: Possible tax measures in budget for 2018

There are on-going discussions of possible tax and revenue raising provisions in the upcoming budget.


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Traditionally, the revenue base for the Singapore government stems from four sources: corporate income tax; individual (personal) income tax; goods and services tax (GST); and the net investment return contribution (NIRC). There is a question as to whether the budget could propose changes to any of these taxes or revenue streams. For instance, some expect that concerning the GST, a reverse-charge mechanism could be announced in the budget for 2018. Also, the budget may include measures for the taxation of e-commerce transactions, in particular those involving overseas businesses.


Read a February 2018 report [PDF 456 KB] prepared by the KPMG member firm in Singapore

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