Minister for Finance, Mr Tharman Shanmugaratnam, will deliver the Singapore Budget 2010 Speech in Parliament on 22 February 2010 at 3.30pm (GMT+8).
Visitors to Singapore and returning residents arriving at Changi Airport can now save time with an innovative new service launched by Singapore Customs in April 2009 for the payment of duties and taxes.
On arrival in Singapore, travellers are required to declare and pay duties and Goods and Services Tax (GST) on cigarettes and tobacco, liquor in excess of their duty-free concession, as well as GST on imported goods such as new articles, souvenirs, gifts and food items exceeding their GST relief entitlement.
The introduction of a self-service Tax Payment Kiosk at all airport terminals provides travellers with an additional avenue to fulfill their Customs duties and GST obligations. Travellers can now enjoy the added convenience of making a self-declaration on their purchases through the kiosk and paying the required duty and GST electronically without having to queue at the Customs Tax Office to do so. [Read more…]
Singapore will revise its laws this year to improve disclosure on foreigners evading income taxes in their home countries, the island nation’s finance minister told his Japanese counterpart according to a Japanese Finance Ministry official.