Singapore legislation
Regulation 5D
Regulation 5D
Modifications to section 14H of Act (Further or double deduction for overseas investment development expenditure)
Subregulation 1
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 14H(1B) 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 14H(1B)(a) of the Act is a reference to the amount computed in accordance with the formula $100,000 – W1, where W1 is the total of —
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 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 reference to $150,000 in section 14H(1B)(b) of the Act is a reference to the amount computed in accordance with the formula $150,000 – W2, where W2 is the total of —
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 expenses for which a deduction is allowed to an amalgamating company for that year of assessment under section 14H(2A) of the Act.
Subregulation 2
Where the date of amalgamation falls within the period from 1 July 2015 to 31 March 2020 (both dates inclusive), then, for the purpose of applying section 14H(2A) of the Act to the amalgamated company in respect of expenditure incurred by it during the basis period for any year of assessment, the reference to $1 million in that section is a reference to the amount computed in accordance with the formula $1 million – W3, where W3 is the total of —
the expenditure for which a deduction is allowed to an amalgamating company for that year of assessment under section 14H(1) of the Act; and
the expenditure for which a deduction is allowed to an amalgamating company for that year of assessment under section 14I(1) of the Act.