Singapore legislation
Regulation 5C
Regulation 5C
Modifications to section 14B of Act (Further deduction for expenses relating to approved trade fairs, exhibitions or trade missions or to maintenance of overseas trade office)
Where the date of amalgamation falls within the period from 1 April 2012 to 31 March 2020 (both dates inclusive), then, for the purpose of applying section 14B(2B) of the Act to the amalgamated company in respect of expenses incurred by it during the basis period for any year of assessment —
the reference to $100,000 in section 14B(2B)(a) of the Act is a reference to the amount computed in accordance with the formula $100,000 – V1, where V1 is the total of —
the expenses for which a deduction is allowed to an amalgamating company for that year of assessment under section 14B(2A) of the Act; and
the expenditure for which a deduction is allowed to an amalgamating company for that year of assessment under section 14H(1A) of the Act; and
the reference to $150,000 in section 14B(2B)(b) of the Act is a reference to the amount computed in accordance with the formula $150,000 – V2, where V2 is the total of —
the expenses for which a deduction is allowed to an amalgamating company for that year of assessment under section 14B(2A) of the Act; and
the expenditure for which a deduction is allowed to an amalgamating company for that year of assessment under section 14H(1A) of the Act.