UNCLAS SINGAPORE 001924

SIPDIS

SIPDIS

E.O. 12958: N/A
TAGS: ECON ETRD EFIN EINV SN
SUBJECT: SINGAPORE SEEKS COMMENTS ON DRAFT INCOME TAX
LEGISLATION

REF: Singapore 792


1. The Ministry of Finance (MOF) is seeking public
comments on proposed amendments to the Income Tax
(Amendment) Bill 2006, including revisions to implement tax
provisions laid out in Singapore?s FY2006 budget such as
tax treatment for qualifying Islamic financial products,
foreign trusts, and a new Maritime Finance Incentive
Scheme. The amendments also include proposals affecting
life insurance companies.


2. The closing date for submission of comments is July 8,

2006. The consultation paper, draft Income Tax (Amendment)
Bill and accompanying documents are available at:
http://www.mof.gov.sg/consultation_current/pu blic_con_draft
_income_2006.html. Comments may be submitted by email
template (pc_itabill@mof.gov.sg), fax (65-6337 4134) or
mailed to:

Ministry of Finance
100 High Street, #10-01
The Treasury
Singapore 179434.


3. MOF has stated that it will publish a summary of key
comments and responses by September 8, 2006.

STANTON