Singapore's Ministry of Finance has launched public consultations on the draft Income Tax (Amendment) Bill 2020 and the draft GST (Amendment) Bill 2020.
Income Tax (Amendment) Bill 2020
The draft Income Tax (Amendment) Bill 2020 incorporates 38 proposed legislative amendments to the Income Tax Act (ITA) to (i) effect tax measures announced in Budgets 2020; (ii) enhance the Comptroller of Income Tax ("Comptroller")'s powers to safeguard public monies; (iii) clarify the tax treatment of m…