Singapore legislation

Clause 13

Amendment of section 45

Section 45 of the principal Act is amended —

(a)

by deleting “40%” wherever it appears in subsection (1) and substituting in each case “33%”; and

(b)

by inserting, immediately after subsection (6), the following subsection:“(7) Notwithstanding subsection (1), tax shall be deducted at the rate of 40% on every dollar of every payment made on or after 1st January 1986 which would be assessable for any year of assessment before the year of assessment 1987 on the person receiving the payment.”.

Read in full context — Income Tax (Amendment) Bill →