Singapore legislation
Clause 19
of Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill
Clause 19
Amendment of section 19KA
Section 19KA(1) of the principal Act is amended —
by inserting, immediately after the words “development and expansion company”, the words “for those services”;
by deleting “2015” and substituting “2020”; and
by deleting paragraphs (a) and (b) and substituting the following paragraphs:“(a)despite section 19K(1), (2), (3), (3A) and (3B), the tax relief period of the company for international legal services is a non-extendable period of 5 years commencing on its commencement day; and
despite section 19J(5C), tax at the rate of 10% is levied and must be paid for each year of assessment upon the expansion income derived from the provision of those services by the company during its tax relief period for those services.”.