Singapore MOF Seeks Comments on Draft Income Tax Amendment Bill

The Singaporean Ministry of Finance June 8 opened a consultation on a draft income tax amendment bill, to implement budget and non-budget measures. The draft bill includes measures that would: 1) extend the withholding tax exemption to March 31, 2023, from March 31, 2022, for nonresident mediators and arbitrators; 2) extend the tax benefit regime for aircraft leasing to Dec. 31, 2027, from Dec. 31, 2022; 3) adapt the tax framework for facilitating corporate amalgamations; 4) extend and rationalize the tax incentives to Dec. 31, 2025, from Dec. 31, 2022, for project and infrastructure finance; 5) align the tax rates ...