50. Amendment of First Schedule

replace the Schedule reference with —“Sections 2(1), (2) and (4), 9(1)(b), (3)(a) and (4)(c), 18(7) and (8), 24(16), 25(3) and (6), 30(2)(c), (2A), (7) and (9), 40(5) and 84(5)”; and

in paragraph 6, replace sub‑paragraph (14) (and the sub‑heading immediately above sub‑paragraph (14)) with —“FANIL for DTT purposes of constituent entity of MNE group located in Singapore is its net income or loss in its financial statements, in prescribed circumstances(14) In the circumstances prescribed in regulations made under section 84, the “FANIL” or “financial accounting net income or loss” for the purposes of Part 3 for a financial year specified in those regulations of each constituent entity of an MNE group that is located in Singapore, is the net income or loss determined for that constituent entity in its financial statements, and sub‑paragraphs (3), (6) and (7) do not apply in those circumstances.”.