Singapore Parliament Considers Finance (Income Taxes) Bill to Amend Various Tax Measures Under 2025 Budget

The Singaporean Parliament Oct. 14 accepted for consideration Bill No. 16/2025, the Finance (Income Taxes) Bill, to amend various tax measures under the 2025 budget. The bill includes measures to: 1) introduce a 100 percent tax deduction for payments under approved innovation cost-sharing agreements, effective Feb. 19; 2) amend deduction rules for impairment and expected credit losses; 3) introduce a 5 percent concessionary tax rate for fund manager listings, and tax exemptions on income from specified funds; 4) extend, to Dec. 31, 2031, from Dec. 31, 2026, the specified maritime sector incentive; 5) extend, to Dec. 31, 2030, from Dec. ...