Taxation Policy in Singapore Income Tax Act

Running head: Taxation
Taxation
Name of the Student
Name of the University
Author Note

1Financial Accounting Assignment
Executive Summary
The report shows about the taxation policy of Singapore Income Tax Act as how the
individual have to deduct the withholding tax and how to submit the same to the authority. It
also shows about the exemption which the individual is able to have and what are the penalty
which will be imposed upon the individual for not following the provision. Lastly it show the
case of Delta Ltd as how the company have to deduct the withholding tax limit from the
payment made to chef who is a non-resident.

2Financial Accounting Assignment
Table of Contents
Introduction................................................................................................................................3
Section 45 of Singapore Income Tax Act..................................................................................3
Tax Treatment in regards of different items..............................................................................4
Consequences of Defaulting withholding Tax Payment............................................................5
Exemptions for withholding tax.................................................................................................6
Case Study of Delta Ltd.............................................................................................................7
Conclusion..................................................................................................................................7
Reference....................................................................................................................................8