Singapore legislation

Regulation 5

of Income Tax (Concessionary Rate of Tax for Provision of Processing Services to Financial Institutions) Regulations 2005

Regulation 5

Determination of income chargeable to tax

For the purposes of regulation 4, the Comptroller shall determine —

(a)

the income chargeable to tax of an approved company having regard to such expenses, capital allowances and donations allowable under the Act as are, in his opinion, to be deducted in ascertaining such income; and

(b)

the manner and extent to which any losses arising from any prescribed processing services may be deducted under section 37(3) of the Act in ascertaining the chargeable income of the approved company.

Read in full context — Income Tax (Concessionary Rate of Tax for Provision of Processing Services to Financial Institutions) Regulations 2005 →