Singapore's Ministry of Finance has launched a public consultation on the draft Income Tax (Amendment) Bill 2019. This includes seven measures announced as part of the 2019 Budget:
- As part of the Bicentennial Bonus, a Personal Income Tax Rebate of 50% of tax payable will be granted to all tax resident individuals for YA 2019 (i.e. for income earned in 2018) with a rebate cap of SGD 200 per taxpayer;
- The Not Ordinarily Resident (NOR) scheme for individuals will lapse after YA 2020, with the N…