The Budget for 2014 was presented to Parliament by the Finance Minister on 21 February 2014. Details of the Budget, which unless otherwise indicated will apply from the year of assessment (YA) 2015, are summarized below.
Direct taxation(a) Corporate taxation
| - | Basel III Additional Tier 1 instruments (other than shares) issued by Singapore-incorporated banks will be treated as debt for tax purposes, i.e. distributions will … |