Singapore legislation

Clause 8

Amendment of section 35

Section 35 of the principal Act is amended by deleting subsection (2A) and substituting the following subsection:“(2A) Notwithstanding any other provisions of this Act, where any dividend derived from Singapore by any person is assessed to tax on a basis period ending on a date other than 31st December, any such dividend —

(a)

derived during the period from 1st January 1985 to 31st December 1985 shall be treated as his statutory income for the year of assessment 1986 and be charged to tax at the rate applicable to him for that year of assessment;

(b)

derived during the period from 1st January 1988 to 31st December 1988 shall be treated as his statutory income for the year of assessment 1989 and be charged to tax at the rate applicable to him for that year of assessment.”.

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