Singapore legislation
Section 50
of Economic Expansion Incentives (Relief from Income Tax) Act
Section 50
Ascertainment of income in respect of other trade or business
Amended by8/798/79
(1)
Where during its tax relief period an international trading company carries on any trade or business which is distinct from the trade or business which includes its relevant export sales, separate accounts shall be maintained in respect of that distinct trade or business and in respect of the same accounting period.
Amended by8/79
(2)
The income from the distinct trade or business referred to in subsection (1) shall be computed and assessed in accordance with the provisions of the Income Tax Act with such adjustments as the Comptroller thinks reasonable and proper.
Amended by8/79