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Global tax reform to make it harder for Singapore to draw …
https://www.msn.com/en-sg/news/singapore/global-tax-reform-to-make-it-harder-for-singapore-to-draw-investments-lawrence-wong/ar-AALNhD2
Wong’s comments come after 130 countries and jurisdictions including Singapore commit to a two-pillar plan to radically reshape the global …
IRAS | Betting and Sweepstake Duties
https://www.iras.gov.sg/taxes/other-taxes/betting-and-sweepstake-duties
Totalisator or pari-mutuel betting in connection with horse racing. Sports betting (e.g. football betting with fixed odds) 25% x (Amount of bets received - Winnings paid out - GST *) Totalisator or pari-mutuel betting excluding horse racing (e.g. TOTO) Any other system or method of cash or credit betting (e.g. 4D and Singapore Sweep)
Horse Racing Betting Guide & Info - Singapore Pools
https://www.singaporepools.com.sg/en/HorseRacing/BetGuide/Pages/BettingGuideInfo.aspx
Horse Racing Betting Guide & Info Bet Types. Customers can place bets on the various bet types offered by Singapore Pools. Betting on the totalisator is conducted on a pari-mutuel basis. After deduction of Goods & Services Tax and Singapore Pools’ commission, the balance is paid out as dividends to the winners. Marking of Coupons
IRAS | Winnings (Toto, 4D, etc.)
https://www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax/what-is-taxable-what-is-not/winnings-(toto-4d-)
Winnings (Toto, 4D...) Winnings refer to money received from betting or lottery such as 4D, Toto, football, Singapore Sweep, horse racing, fruit machine (jackpot) and casino winnings, etc. in Singapore. On this page: Tax treatment of winnings Winnings received are not taxable as they are windfalls and not considered as an income.
Tax Reforms in Singapore - ScienceDirect
https://www.sciencedirect.com/science/article/pii/S0161893898000192
Section 4 presents and discusses the results. Section 5 concludes the essay. 2. A model of tax reforms 1. To begin with, we assume that producer prices are fixed as tax rates change. The easiest way to justify this is that for small open economy such as Singapore prices are fixed internationally.
Singapore Turf Club - Racing Portal | Singapore Turf Club …
https://racing.turfclub.com.sg/en/home-page/
Singapore Stewards, 26/04/2022. Singapore Turf Club welcomes spectators back to live horse racing action. In view of the streamlining of safe management measures in Singapore, Singapore Turf Club (STC) today announced that it will be reopening its doors to the public from 30 April. After almost two years of racing behind closed doors, STC is ...
Gaming in Singapore: overview - Practical Law
https://uk.practicallaw.thomsonreuters.com/4-636-0616?contextData=(sc.Default)
With the exemptions, Singapore Turf Club will be able to offer horse racing betting services on an online wagering platform while Singapore Pools will be allowed to offer remote gambling for existing lotteries, football and motor-racing sports betting products.
Horseracing Integrity bill becomes law * The Racing Biz
https://www.theracingbiz.com/2020/12/28/horseracing-integrity-bill-becomes-law/
Uniform three-year racehorse depreciation was one of several tax provisions across many industries set to expire at the end of 2020. The provision extends the three-year depreciation schedule for all racehorses through 2021 and allows taxpayers the option to depreciate, on a three-year schedule, racehorses less than 24 months of age when purchased …
Horseracing Integrity & Safety Act signed into law - Today's …
https://www.todaysracingdigest.com/index.php?page=news&article=horseracingintegritysafet
The legislative package also included three provisions which can be beneficial to the horse racing industry: key tax reform for three-year racehorse depreciation, COVID-19 relief provisions, and extensions of current H-2B visa amendments. The HISA legislation will go into effect following the undefined formation of an independent national racing authority (Authority) or no later than …
Tax break for racehorse owners advances in Congress
https://www.foxbusiness.com/money/tax-break-race-horse-owners
Three-year depreciation for racehorses was not renewed as part of the Republicans’ tax reform overhaul passed in 2017. ... wagering at horse racing events fell to about $11.2 billion in 2018 ...
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