income tax act

Latest news

Non-Profits Receive Deadline Extension

Over 300 000 US charities are at risk of losing their tax exemption status, unless they make use of the Government’s new tax return filing deadline extension.

UK Consulting on Tax Issues

The UK Government is taking action to show national taxpayers and international investors that the country “is open for business”, by initiating an extensive round of public consultation of tax system legislation issues.

Tax Collection from Oil Exceed Industry Profit

The oil and gas industry is facing heavy criticism from the media, the public, and subsequently US Government politicians, under the assumption that the sector is under-taxed and action has to be taken to correct the situation. However, tax revenues arising from the sector in recent years have eclipsed the profits made by the entire oil extraction and exploration industry.

International Fight on Foreign Bribery Lagging

Countries representing an approximate 70 percent of world trade have been deemed as not having taken enough action to combat the occurrence of international bribery.

OECD Updates Several Tax Guidelines

In an effort to maintain a relevant and up-to-date set of instruments to facilitate international tax agreements and transactions, the Organization for Economic Cooperation and Development has published revised versions of its vital documents.

Oct 20, 20090

Singapore Poised to Join OECD White List

Categories: International Tax Cooperation, Taxation in Singapore

With an amendment to its taxation laws, the jurisdiction of Singapore is verged on the edge of becoming an OECD White listed country. The 19th of October saw the Singaporean government pass a new bill with the aim of combating cross-border tax evasion and ensuring that the nation’s laws are in compliance with international taxation standards. Following guidelines mooted by the Organisation for Economic Co-operation and Development (OECD), the country’s Income Tax Act has been altered to allow other complying nations to ... Read More