Singapore legislation
Clause 38
Clause 38
Amendment of section 45
Section 45 of the principal Act is amended —
(a)
by deleting the words “section 43(3)” in subsections (1)(a) and (2)(b) and substituting in each case the words “section 43(3) or (3A)”;
(b)
by deleting “22%” in subsections (1)(a) and (2)(b) and substituting in each case “20%”; and
(c)
by deleting subsection (1A) and substituting the following subsection:“(1A) Notwithstanding subsection (1), tax shall be deducted at the rate of 22% on every payment (other than payment subject to tax at the rate specified in section 43(3) or (3A)) made on or after 1st January 2004 which would be assessable on the person receiving the payment for the year of assessment 2004.”.