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Singapore Consulting on Income Tax (Amendment) Bill 2023 Including 2023 Budget and Other Measures

07 June 2023

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Proposed Changes

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Singapore

Singapore's Ministry of Finance has announced the launch of a public consultation on the draft Income Tax (Amendment) Bill 2023, which includes tax measures announced in the 2023 Budget Statement on 14 February 2023, and changes arising from international tax developments and MOF's periodic review of Singapore's tax system to better reflect policy objectives and to improve tax administration. The deadline for comment is 30 June 2023. --- Public Consultation on Proposed Income Tax (Amendment) Bill 2023 INTRODUCTION 1. The Ministry of Finance is proposing 33 legislative amendments to the Income Tax Act 1947 ("ITA") to effect: (i) tax measures...