Singapore legislation
Clause 14
Clause 14
Amendment of section 14B
Section 14B of the principal Act is amended by deleting subsection (2A) and substituting the following subsections:“(2A) For the purposes of subsection (1) and subject to subsection (2B), the firm or company need not be an approved firm or approved company to be allowed a deduction under subsection (1) in respect of expenses mentioned in subsection (2)(a) that are incurred at any time between 1 April 2012 and 31 March 2020 (both dates inclusive) for the primary purpose of promoting the trading of goods or the provision of services.(2B) The amount of the expenses for which the deduction may be allowed under subsection (2A), after adding the expenditure for which a deduction is allowed to the firm or company under section 14K(1A), must not exceed —
for a year of assessment before the year of assessment 2019 — $100,000; or
for the year of assessment 2019 or a subsequent year of assessment — $150,000.”.