25 February 2013

The Economic Expansion Incentives (Relief from Income Tax) (Amendment) Act 2013, first published on 20 February 2013, was passed in Parliament on 14 January 2013 and assented to by the President on 13 February 2013.

It implements the tax changes relating to the integrated investment allowance announced in the Government’s 2012 Budget Statement and makes certain other amendments to the Economic Expansion Incentives (Relief from Income Tax) Act (Chapter 86 of the 2005 Revised Edition) as well as related and consequential amendments to the Income Tax Act (Chapter 134 of the 2008 Revised Edition).

Details of the amendments to the various sections of the Economic Expansion Incentives (Relief from Income Tax) Act and the Income Tax Act can be found in the “Explanatory Statement” of the Economic Expansion Incentives (Relief from Income Tax) (Amendment No. 2) Bill.

Source: Government Gazette