Singapore legislation
Section 37Q
Section 37Q
Exclusion of expenditure or payment subsidised by capital grant
(1)
Despite anything in this Act or the Economic Expansion Incentives (Relief from Income Tax) Act 1967, a deduction or an allowance under this Act or Part 8 or 9 of the Economic Expansion Incentives (Relief from Income Tax) Act 1967 may not be made or given in respect of any expenditure or payment to the extent that the expenditure or payment is or is to be subsidised by a grant or subsidy from the Government or a statutory board that is —
capital in nature; and
approved by the Government or statutory board on or after 1 January 2021.
(2)
Subsection (1) does not affect the operation of the following provisions:
sections 14A(7), 14B(4)(e), 14C(1A), 14D(12)(b), 14H(3)(c), 14I(10)(b), 14U(7), 14Z(7) and (9) and 37O(29);
section 41(3) of the Economic Expansion Incentives (Relief from Income Tax) Act 1967.[37N