Singapore legislation
Clause 33
Clause 33
Amendment of section 26A
Section 26A of the principal Act is amended by inserting, immediately after subsection (2A), the following subsections:“(2B) For the year of assessment 2015 and every subsequent year of assessment, section 37B shall apply, with the necessary modifications, to —
any Lloyd’s limited liability partnership; or
any Lloyd’s Scottish limited partnership,carrying on a business of insuring and reinsuring risks in Singapore whose income for that year of assessment is subject to tax at different rates, as that section applies to a company whose income for any year of assessment is subject to tax at different rates.(2C) To avoid doubt, subsection (2B) applies to any amount of allowance, loss or donation of the Lloyd’s limited liability partnership or the Lloyd’s Scottish limited partnership carried forward to the year of assessment from an earlier year of assessment.”.