Discuss Whether The Changing Tax Structure Will Im

To help capital of capital of capital of Singapore achieve sustainable economic growth, the governing body has been reducing income evaluatees and corporate levyes over the aged(prenominal) age. It has excessively gaind its corporate trust on confirmatory valuatees-raising the Goods and Services Tax (GST) from 5% to 7% in 2007. question whether the ever-changing tax structure volition improve stream and future life history samples in Singapore The changing tax structure in Singapore surely event improve current and future standards of living in Singapore. Singapore has experienced sustained economic growth in the departed times 2 years after 2 creaky years in 2008 and 2009,with a 14.5% increase in gross domestic product in 2010.Sustainable economic growth would mean that consumption would increase and it would be easier for governments to redistri simplye income to the low- income portions of the population. Currently not only is Singapore management on sust ainable economic growth but also productivity driven growth, to further improve the standard of living for the people. Amendments in the tax structure is crucial for these goals to be achieved. gibe to the 2011 Budget Statement, amendments have been do to income tax place for businesses.Firstly, the genius One-time corporate income tax rebate or SME currency grant,whichever arrive is higher.

Singapore companies contribute claim a one-time 20% corporate income tax rebate on corporate income tax payable for 2011, stem to a cap of S$10,000 or a one-time SME money grant of 5% of the companys revenue for 2011, yield to a cap of S$5,0 00. However, the hard cash grant can be ava! iled only if the company has make CPF contributions for at least(prenominal) one employee in 2010. Enhancements have also been made in the PIC (Productivity and Innovations Credit) Scheme. Prior to 2011, the PIC scheme offered a 250% tax deduction or allowance for the first S$300,000 of straits expenses incurred on each of the following six adjustment activities along the innovation value chain, like, R&D expenditures, investments in design,  investments in...If you want to get a full essay, site it on our website: BestEssayCheap.com

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