MOF accepts 31 suggestions on draft income tax Bill 2016

Singapore

THE Ministry of Finance (MOF) has accepted 31 suggestions on the draft Income Tax (Amendment) Bill 2016, following a public consultation exercise held from June 26 to July 24. A total of 70 suggestions were received from 11 organisations and individuals.

The draft Bill contains proposed legislation to effect the tax changes announced at Budget 2015 in late February, as well as other changes arising from the periodic review of the income tax system.