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MOF seeks views on proposed tax changes
Thu, Jun 26, 2008
The Straits Times

By Yang Huiwen

IF YOU have something to say about the proposed tax changes flagged in the Budget in February, now is your chance to air your views.

The Ministry of Finance is seeking public feedback on amendments to the Income Tax Act.

You can lodge comments by e-mail, fax or post for the next four weeks starting tomorrow.

Check the ministry's website at www.mof.gov.sg or the Government's central consultation portal at reach.com.sg for contact details.

There are three core changes being proposed: introducing new incentives to encourage research and development in the private sector, tax deductions for expenditure on fixtures and fitting, and enhancements to course fee relief for individuals.

There are also administrative changes such as the 'no filing system', in which individuals can have their tax assessed by the Income Revenue Authority of Singapore without having to file returns.

The public consultation exercise ends on July 28.

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