Singapore legislation

Clause 9

Amendment of section 14I

Section 14I of the principal Act is amended —

(a)

by deleting the words “2% in the case of a qualifying finance company or 3% in the case of a bank,” in subsection (4)(c) and substituting “3%”;

(b)

by deleting the words “the appropriate percentage referred to in subsection (4)(c)” in subsection (5)(b) and substituting “3%”; and

(c)

by inserting, immediately after subsection (5A), the following subsection:“(5B) Subsections (4)(a) and (b) and (5)(a) shall not apply to any qualifying finance company.”.

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