Singapore's Ministry of Finance has published summaries of the responses to the public consultations held on the draft Income Tax (Amendment) Bill 2020 and the draft GST (Amendment) Bill 2020 ({News-2020-07-23/P/5-previous coverage}).
With regard to the draft Income Tax (Amendment) Bill 2020, the key feedback received pertains to the following tax changes:
- Introduce a surcharge for tax avoidance arrangements;
- Extend and refine the upfront certainty of non-taxation of companies' gains on di…