Singapore legislation

Clause 5

of Income Tax (Amendment) Bill

Clause 5

Amendment of section 10J

Section 10J(7) of the principal Act is amended —

(a)

by inserting, immediately after the word “applies” in the 4th line of paragraph (b), the words “or any purchase or acquisition of shares or stocks of a preferential nature to which section 10M applies”; and

(b)

by deleting the full-stop at the end of paragraph (d) and substituting a semi-colon, and by inserting immediately thereafter the following paragraph:“(e)“shares” includes stocks but does not include shares or stocks of a preferential nature.”.

Clause 5 — Income Tax (Amendment) Bill | laws.sg