Singapore legislation

Clause 25

Amendment of section 37E

Section 37E of the principal Act is amended by deleting subsection (18) and substituting the following subsection:“(18) This section shall not apply to —

(a)

any company to which section 10E applies; or

(b)

any person, in respect of qualifying deductions under subsection (9) relating to any income the tax on which is remitted under the provisions of this Act for any year of assessment unless —

(i)

no such remission would be given to any income in the following year of assessment; or

(ii)

the remission is to effect a deduction for any outgoing or expense incurred by him not otherwise deductible under section 14.”.

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