Clause 55
Remission of tax for Year of Assessment 2025
of Finance (Income Taxes) Bill
BillNot in forceProvision 54 of 72
Clause 55
(1)
There is to be remitted the tax payable for the year of assessment 2025 by an individual resident in Singapore an amount equal to the lower of the following:
(a)
60% of the tax payable by that individual for that year of assessment;
(b)
$200.
(2)
The amount of such remission is to be determined by the Comptroller.