BACKGROUND
1. A public consultation exercise on the draft Property Tax (Amendment) Bill 2004 was held from 15 July 2004 to 11 August 2004 to obtain feedback on areas of the draft legislation that require greater clarity or could be modified to facilitate compliance by companies and taxpayers.
2. The draft Property Tax (Amendment) Bill 2004 incorporates all amendments to the Property Tax Act relating to the following tax changes:
a. Facilitation of electronic transactions via IRAS's new system IRIN
b. Appointment of Deputy Chairmen for the Valuation Review Board
c. Repeal of Section 8 on the incentive for Energy Conservation
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