Singapore legislation
Clause 7
Clause 7
Amendment of section 13B
Section 13B of the principal Act is amended —
(a)
by deleting the words “debited to the account” in the first line of subsection (6) and substituting the words “exempt from tax under this section”; and
(b)
by inserting, immediately after subsection (6), the following subsection:“(6A) Notwithstanding subsections (4) and (6), no dividend paid on or after the commencement of the Income Tax (Amendment) Act 1989 on any share of a preferential nature shall be exempt from tax in the hands of the shareholder.”.