Singapore legislation

Clause 17

Amendment of section 45

Section 45 of the principal Act is amended —

(a)

by deleting “33%” wherever it appears in subsection (1) and substituting in each case “32%”; and

(b)

by inserting, immediately after subsection (7), the following subsection:“(8) Notwithstanding subsection (1), tax shall be deducted at the rate of 33% on every dollar of every payment made on or after 1st January 1989 which would be assessable for the years of assessment 1987, 1988 and 1989 on the person receiving the payment.”.

Read in full context — Income Tax (Amendment No. 2) Bill →