Finance (Income Taxes) Bill 2026 Consultation Responses

Singapore's Ministry of Finance (MOF) published its summary of responses to the public consultation on the proposed Finance (Income Taxes) Bill 2026 on 2 September 2026. The consultation ran from 8 June to 1 July 2026. The consultation summary is not enacted law; it records feedback and MOF's responses on proposed legislation, rather than proving that every proposal is already operative (MOF, published 2 Sep 2026).

Bills and policy areas covered

The proposed Bill covers amendments to Singapore's Income Tax Act 1947 and the Multinational Enterprise (Minimum Tax) Act 2024. MOF says the Income Tax Act changes would implement measures announced in Budget 2026 and other periodic reviews of the income-tax system, while the Multinational Enterprise (Minimum Tax) Act changes concern Singapore's implementation of the Pillar Two Global Anti-Base Erosion (GloBE) Model Rules (MOF, published 2 Sep 2026). The proposed amendments therefore span domestic tax administration and the international minimum-tax framework; they should not be collapsed into a single new tax rate.

Main feedback on the Income Tax Act changes

MOF identifies three main feedback areas on the proposed Income Tax Act amendments. Respondents commented on enhancing the Enterprise Innovation Scheme to support businesses adopting artificial intelligence; requiring companies to use an Inland Revenue Authority of Singapore (IRAS) e-service to file objections and revisions to tax assessments; and standardising and extending the timeline for appeals from Board of Review decisions to the General Division of the High Court (MOF, published 2 Sep 2026). These are consultation-response topics and administrative or procedural changes; the publication does not make all businesses eligible for an AI incentive or say that existing appeal deadlines have already changed.

Multinational minimum-tax feedback and status boundary

Feedback on the Multinational Enterprise (Minimum Tax) Act 2024 focused on Singapore's implementation of the GloBE information-return exchange framework (MOF, published 2 Sep 2026). The GloBE reference concerns information exchange under the Pillar Two framework, not a general income-tax filing obligation for every Singapore taxpayer. Until the legislative process produces an enacted text and applicable commencement provisions, the consultation summary is best used as a dated account of proposed amendments and government responses rather than as a substitute for the current Income Tax Act or IRAS operational guidance.