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Singapore proposes legislative changes for Refundable Tax Credits

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Singapore

  • Proposed changes to the Income Tax (Amendment) Bill 2024 include a new Refundable Investment Credit (RIC), which may be used to offset corporate income tax.
  • As Singapore prepares to implement the Income Inclusion Rule and Domestic Top-up Tax in 2025, multinational entities may want to consider how the RIC (together with Singapore's suite of tax incentives and cash grants available) could be factore…

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