On 27 November 2014, Singapore enacted Income Tax (Amendment) Act 2014, which includes amendments that give effect to policies announced in Budget 2014, as well as non-budget changes. The final Act also includes changes made following a public consultation.
The main amendments included in the final Act are as follows:
- The Productivity and Innovation Credit (PIC) scheme is extended for 3 years till year of assessment (YA) 2018, and from YA 2016, the period for satisfying the requirement of e…