Singapore legislation
Clause 25
of Economic Expansion Incentives (Relief from Income Tax) Bill
Clause 25
Application of Part X of the Income Tax Ordinance
(1)
Part X of the Income Tax Ordinance (Cap. 166) (relating to returns of income) shall apply in all respects as if the whole of the income of an export enterprise in respect of its export profits were chargeable to tax.
(2)
The annual return of income shall be accompanied by a separate export statement showing the quantity and value at f.o.b. prices of its export product or export produce exported during the accounting period in respect of which such return was furnished, together with such further evidence as, in the opinion of the Comptroller, is necessary to verify the accuracy of such export statement.