Singapore legislation

Clause 8

of Income Tax (Amendment) Bill

Clause 8

Amendment of section 10L

Section 10L of the principal Act is amended —

(a)

by inserting, immediately after subsection (2), the following subsection:“(2A) The Minister may, for any good cause, remit, wholly or in part, any penalty payable by any SRS member under subsection (2).”; and

(b)

by inserting, immediately after the word “resident” in the 3rd line of subsection (3)(a), the words “on the date of the withdrawal and for a continuous period of at least 10 years before that date,”.