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According to a release, more taxpayers, including 15,000 first-time taxpayers, will benefit from the No-Filing Service (NFS) for this year’s tax filing season, starting 1 March 2014. For these 1.23 million taxpayers, or 60% of all taxpayers, tax filing will be a non-event. First launched in 2007, the NFS has grown significantly over the years to benefit 27 times as many taxpayers this year.
The three biggest banks are losing capital. A crisis of staggering proportions is looming in China, and tiny Singapore will be caught right in the middle of the storm once the disaster finally erupts. Speaking at the annual Barron’s roundtable, Swiss billionaire investor Felix Zulauf warned that Singapore’s largest banks are at risk of massive capital outflows if the Chinese economy experiences a hard landing, which he expects will happen this year.
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