Singapore legislation

Clause 2

Amendment of section 2

Section 2(1) of the Income Tax Act (referred to in this Act as the principal Act) is amended —

(a)

by deleting “45(7),” in the definition of “Comptroller”;

(b)

by deleting the words “section 37(3)(a) or claimed under section 37D (excluding any donation referred to in section 37D(8)(c))” in the definition of “earned income” and substituting the words “section 37(3)(a) or 37E or claimed under section 37D (excluding any donation referred to in section 37D(8)(c)) or 37F”;

(c)

by inserting, immediately after the definition of “institution of a public character”, the following definition:“ “issued shares” excludes treasury shares;”; and

(d)

by inserting, immediately after the definition of “tax”, the following definition:“ “treasury share” has the same meaning as in section 4(1) of the Companies Act (Cap. 50);”.

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