Singapore legislation

Clause 51

of Income Tax (Amendment) Bill

Clause 51

Miscellaneous amendments

The principal Act is amended —

(a)

by deleting the words “, losses and donations” wherever they appear in the following provisions and substituting in each case the words “and losses”:Sections 13(2E), 13O(2), 13P(2), 13U(5), 13W(2), 13X(4)(b) and 13Y(3)(c);

(b)

by deleting the words “to the extent that it is subsidised” wherever they appear in the following provisions and substituting in each case the words “to the extent that it is or is to be subsidised”:Sections 14A(7), 14D(1A), 14S(6) (definition of “qualifying design expenditure”), 14T(8), 19A(16) and 19B(12);

(c)

by deleting the words “section 14D(1)(aa) and (c)” wherever they appear in the following provisions and substituting in each case the words “section 14D(1)(aa), (c) and (f)”:Sections 14E(3B), 19(9), 19A(14C), 20(6B) and 37L(15); and

(d)

by deleting the word “and” at the end of paragraph (c) of section 36B(1), and by inserting immediately thereafter the following paragraph:“(ca)for the purposes of section 13Z, any reference to ordinary shares in an investee company which are legally and beneficially owned by a divesting company shall be read as a reference to ordinary shares in the investee company which are trust property of the registered business trust; and”.