In force2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Income Tax Act 1947 · 2020 Revised Edition · Part 19 · Collection, Recovery and Repayment of Tax
92A. Remission of tax of companies for year of assessment 2011
Feedback & support(1)
Subject to subsection (2), there is to be remitted the tax payable for the year of assessment 2011 by a company an amount equal to the lower of —
(a)
20% of the tax payable for that year of assessment (excluding any tax levied and paid or payable pursuant to section 43(3), (3A) and (3B)); and
(b)
$10,000,where the Comptroller is satisfied that the remission of tax would be beneficial to the company.
(2)
No remission under subsection (1) may be granted to a company where the company qualifies for the cash grant under section 92B.
company
Defined · s 2
“company” means any company incorporated or registered under any law in force in Singapore or elsewhere;