The Inland Revenue Authority of Singapore (IRAS) has published an overview of tax changes in the Budget Statement for the Financial Year 2020 that was delivered by Deputy Prime Minister and Minister for Finance, Heng Swee Keat, on 18 February 2020. Some of the main changes for businesses are summarized as follows:
- A temporary Jobs Support Scheme is introduced, which includes that employers will receive an 8% cash grant on the gross monthly wages of each local employee for the months of Octo…