On 26 June 2015, the Ministry of Finance (MOF) issued the draft Income Tax (Amendment) Bill 2015 (the draft Bill) for public consultation.
The draft Bill mainly contains tax changes proposed at the 2015 Budget. In addition, a number of non-Budget changes to existing tax policies and administration have been proposed. These arose from the on-going review of Singapore’s income tax system.
The consultation exercise ended on 24 July 2015, and as always, PwC has provided our feedback to the MOF, some aspects of which we share in this newsletter.