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Singapore Publishes Responses to Public Consultations on Income Tax and GST Amendment Bills

07 October 2020

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Proposed Changes

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Singapore

Singapore's Ministry of Finance has published summaries of the responses to the public consultations held on the draft Income Tax (Amendment) Bill 2020 and the draft GST (Amendment) Bill 2020 ({News-2020-07-23/P/5-previous coverage}). With regard to the draft Income Tax (Amendment) Bill 2020, the key feedback received pertains to the following tax changes: Introduce a surcharge for tax avoidance arrangements; Extend and refine the upfront certainty of non-taxation of companies' gains on disposal of ordinary shares; and General tax treatment of COVID-19 support measures. With regard to the draft GST (Amendment) Bill 2020, the key feedback received pertains to the following...