Singapore legislation
Regulation 5E
Regulation 5E
Modifications to section 14I of Act (Further or double deduction for salary expenditure for employees posted overseas)
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 14I(4) 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 – X, where X is the total of —
the expenditure for which a deduction is allowed to an amalgamating company for that year of assessment under section 14I(1) of the Act; and
the expenditure for which a deduction is allowed to an amalgamating company for that year of assessment under section 14H(1) of the Act.