Singapore legislation

Regulation 3

of Income Tax (Adjustment on Change of Basis of Computing Taxable Surplus of Life Insurers) Regulations 2009

Regulation 3

Computation of gains or profits

In the ascertainment of gains or profits under paragraphs (a) and (c) of section 26(6) of the Act, where the amount derived from the application of section 26(6)(a)(iii) or (c)(iii) is greater than zero, the amount shall exclude the lower of the following:

(a)

the amount derived for that year of assessment; and

(b)

the qualifying amount for that year of assessment.

Read in full context — Income Tax (Adjustment on Change of Basis of Computing Taxable Surplus of Life Insurers) Regulations 2009 →