Singapore legislation

Clause 11

Amendment of section 42

Section 42 of the principal Act is amended —

(a)

by deleting “32%” in the fifth and in the eighth lines of subsection (5) and substituting in each case “31%”; and

(b)

by deleting the proviso to subsection (5) and substituting the following proviso:“Provided that the reference to 31% in this subsection shall —

(a)

for the years of assessment 1988 and 1989, be read as a reference to 33%; and

(b)

for the year of assessment 1990, be read as a reference to 32%.”.