Public Consultation on Proposed Income Tax (Amendment) Bill 202208 Jun 2022
The Ministry of Finance is proposing legislative amendments to the Income Tax Act 1947 (ITA). Interested parties are invited to provide feedback on these proposed legislative amendments from 8 June to 6 July 2022.
2. The draft Income Tax (Amendment) Bill 2022 proposes 23 amendments to the ITA. The amendments cover
(i) tax measures announced in the 2022 Budget Statement on 18 February 2022 (eight amendments); and
(ii) changes arising from our periodic review of our tax system such as to revise existing policies, improve our tax administration or enhance the clarity of existing legislation (15 amendments).
3. The public can provide their feedback on the proposed amendments.
Submission of feedback via email from 8 June to 6 July 2022
4. The public can access the public consultation documents, including the draft Income Tax (Amendment) Bill 2022, on the Ministry of Finance's website (www.mof.gov.sg) and the REACH consultation portal (www.reach.gov.sg).
5. Interested parties are requested to use the prescribed template to submit their comments on the draft Income Tax (Amendment) Bill 2022 by 6 July 2022.
Ministry of Finance
8 June 2022