Tax Newsbites

Welcome to the November/December 2015 issue of Tax Newsbites.

This publication aims to share bite-sized information and updates from Singapore and around the region.

Some of the updates in this issue include:

  • PwC Singapore launched a paper that makes recommendations to reform Singapore's tax system.
  • The Ministry of Finance has accepted 31 of 70 consultation suggestions on the draft Income Tax (Amendment) Bill 2016.
  • The IRAS updated its website content to clarify that the Temporary Employment Credit is taxable.
  • Singapore-Russia DTA: Singapore and Russia signed a Protocol to amend the existing tax treaty. 
  • Australia: The Australian Parliament approved the multinational tax anti-avoidance bill on 3 December 2015.
  • Taiwan: The legislature repealed a controversial capital gains tax on share trades by active investors before the tax ever entered into force.

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Tax Newsbites

Tax updates for the period 1 November 2015 to 11 December 2015