On 7 December 2020, Singapore published the Income Tax (Amendment) Act 2020 and the Goods and Services Tax (Amendment) Act 2020 in the Official Gazette, which provides for the implementation of measures announced as part of the 2020 Budget and others. The two Acts were approved in parliament on 3 November and assented to by the President on 25 November.
Income Tax (Amendment) Act 2020
The measures of the Income Tax (Amendment) Act 2020 are summarized as follows:
- A Corporate Income Tax (C…