{"id":1979,"date":"2025-06-21T13:23:54","date_gmt":"2025-06-21T05:23:54","guid":{"rendered":"http:\/\/ehluar.com\/main\/?p=1979"},"modified":"2025-08-08T13:28:36","modified_gmt":"2025-08-08T05:28:36","slug":"public-consultation-on-proposed-finance-income-taxes-bill-2025-targeting-budget-measures-and-global-minimum-tax-rules","status":"publish","type":"post","link":"http:\/\/ehluar.com\/main\/2025\/06\/21\/public-consultation-on-proposed-finance-income-taxes-bill-2025-targeting-budget-measures-and-global-minimum-tax-rules\/","title":{"rendered":"Public Consultation on Proposed Finance (Income Taxes) Bill 2025 Targeting Budget Measures and Global Minimum Tax Rules"},"content":{"rendered":"\n<p>The Ministry of Finance (MOF) has initiated a public consultation on the draft Finance (Income Taxes) Bill 2025, seeking stakeholder feedback on significant proposed amendments to Singapore&#8217;s income tax framework. The consultation period runs from 18 June to 11 July 2025.<\/p>\n\n\n\n<p>The comprehensive Bill incorporates key changes across two primary domains:<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li>Implementation of 2025 Budget Measures &amp; Domestic Tax Refinements: The draft legislation formally enacts income tax adjustments announced during the <em>2025 Budget Statement<\/em>. It also proposes further amendments stemming from the MOF&#8217;s ongoing review of the Income Tax Act 1947. These changes aim to ensure the tax regime more effectively achieves its policy objectives and enhances overall tax administration efficiency.<\/li>\n\n\n\n<li>Strengthening the Multinational Enterprise Minimum Tax Framework: The Bill includes critical updates to the Multinational Enterprise (Minimum Tax) Act 2024. These amendments are designed to:\n<ul class=\"wp-block-list\">\n<li>Provide necessary clarifications on the application of the OECD\/G20 <em>Pillar Two Global Anti-Base Erosion (GloBE) Model Rules<\/em>.<\/li>\n\n\n\n<li>Expand regulatory-making powers required for the operational implementation of the GloBE Rules within Singapore. This includes alignment with evolving Commentary and administrative guidance issued by the OECD\/G20 Inclusive Framework.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n<p>The MOF encourages tax professionals, businesses (particularly multinational enterprises), industry associations, and other interested parties to review the draft legislation and submit detailed feedback by the <em>11 July 2025<\/em> deadline. Input is crucial for refining the provisions before formal introduction to Parliament.<\/p>\n\n\n\n<p><strong>Source:<\/strong> MOF, 18 June 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ministry of Finance (MOF) has initiated a public consultation on the draft Finance (Income Taxes) Bill 2025, seeking stakeholder feedback on significant proposed amendments to Singapore&#8217;s income tax framework. The consultation period runs from 18 June to 11 July 2025. The comprehensive Bill incorporates key changes across two primary domains: The MOF encourages tax [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7,8,6],"tags":[],"class_list":["post-1979","post","type-post","status-publish","format-standard","hentry","category-accounting","category-incometax","category-techupdates"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1979","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/comments?post=1979"}],"version-history":[{"count":1,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1979\/revisions"}],"predecessor-version":[{"id":1980,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1979\/revisions\/1980"}],"wp:attachment":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/media?parent=1979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/categories?post=1979"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/tags?post=1979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}