Singapore legislation

Clause 13

Amendment of section 14D

Section 14D of the principal Act is amended —

(a)

by deleting “2013” in subsection (1)(aa) and (c) and substituting in each case “2015”;

(b)

by inserting, immediately after subsection (1), the following subsection:“(1A) The expenditure or payment referred to in subsection (1) shall not include any such expenditure or payment to the extent that it is subsidised by grants or subsidies from the Government or a statutory board.”; and

(c)

by inserting, immediately after the words “or payments” in subsection (4)(a) and in the definition of “A” within the definition of “specified amount” in subsection (5), the words “(after deducting any amount in respect of which an election for a cash payout has been made under section 37I)”.

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