On 29 December 2016, the Income Tax (Amendment No. 3) Act 2016 was published in Singapore's Government Gazette. The Act implements a number of Budget 2016 changes, as well as certain non-Budget changes. Some of the main measures of the Act include:
- Measures to enable the implementation of Country-by-Country (CbC) reporting, including to make regulation to require the submission of CbC reports and to exchange CbC reports with other jurisdictions;
- An increase in the allowance under the Merge…