Public Consultation on Proposed Income Tax (Amendment) Bill 202306 Jun 2023
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 amendments from 6 June to 30 June 2023.
2. The draft Income Tax (Amendment) Bill 2023 proposes 33 amendments to the ITA. The amendments cover:
a) tax measures announced in the 2023 Budget Statement on 14 February 2023 (19 amendments); and
b) changes arising from international tax developments and MOF’s periodic review of Singapore’s tax system to better reflect policy objectives and to improve tax administration (14 amendments).
Submission of feedback via email from 6 June to 30 June 2023
3. The public can access the public consultation documents, including the draft Income Tax (Amendment Bill) 2023, on the Ministry of Finance's website (www.mof.gov.sg) and the REACH consultation portal (www.reach.gov.sg).
4. Interested parties are requested to use the prescribed template to submit their comments on the draft Income Tax (Amendment) Bill 2023 by 30 June 2023.
Ministry of Finance
6 June 2023