This alert highlights some of the key tax changes in the Income Tax (Amendment) Act 2021.
The Income Tax (Amendment) Act 2021 (Amendment Act) was passed by the Singapore Parliament on 5 October 2021 and gazetted on 16 November 2021.
The Amendment Act gives legislative effect to the Budget 2021 tax changes, as well as non-Budget changes arising from the periodic review of Singapore’s income tax system.
This alert highlights some of the key tax changes. Unless otherwise specified, the amendments have taken effect from 16 November 2021, the date that the Amendment Act was gazetted.
