Singapore's tax laws include the Income Tax Act, the Economic Expansion Incentives (Relief from Income Tax) Act, the Estate Duty Act, the Property Tax Act, and the Stamp Duties Act. In addition, it includes tax treaties signed with other countries.
Parliament holds the power to enact and amend tax laws.
Parliament amends the Income Tax Act annually based on the government budget, while amendments to other regulations are made as needed. The Inland Revenue Authority of Singapore is responsible for the enforcement of tax laws. Singapore does not levy local or municipal taxes.
Since Singapore inherited the British legal system, and judicial precedents in the United Kingdom and its Commonwealth countries carry significant persuasive authority, Singapore uses such precedents to interpret tax laws.
