Singapore's Ministry of Finance has launched a public consultation on amendments to the Income Tax Act in order to implement measures announced as part of the 2018 Budget and certain others. The main measures from the Budget include:
- Enhancement and extension of the Corporate Income Tax (CIT) rebate, which includes a rebate rate of 40% of tax payable, with a higher cap of SGD 15,000 for the Year of Assessment (YA) 2018 and an extension of the CIT rebate to YA 2019, at 20% of tax payable, cap…