Singapore legislation

Regulation 2

of Income Tax (Deductible Borrowing Costs) Regulations 2008

Regulation 2

Prescribed sums payable in lieu of interest or for reduction thereof

Subregulation 1

For the purposes of section 14(1)(a)(ii) of the Act, the prescribed sums payable by any person in lieu of interest or for the reduction thereof are any deductible borrowing costs incurred by the person.

Subregulation 2

In paragraph (1), “deductible borrowing costs” means any of the items specified in the first column of the Schedule which are of the description specified in the second column thereof.

Read in full context — Income Tax (Deductible Borrowing Costs) Regulations 2008 →