Singapore legislation
Clause 2
Clause 2
Amendment of section 13
Subsection (1) of section 13 of the Income Tax Act (referred to in this Act as the principal Act) is amended —
(a)
by inserting, immediately after the word “Act” at the end of paragraph (e), the words “, except dividends received by it from any company in which it holds, at the time such dividends are declared, more than half of the issued share capital of the company unless the Minister otherwise approves”; and
(b)
by inserting, immediately after the word “assessment” in the second line of sub-paragraph (b) of the proviso to paragraph (g), the words “for charities or charitable objects within Singapore”.