Regulation 1
Citation
This Order may be cited as the Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 4) Order 2000.
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Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 4) Order 2000 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S401-2000 1947, currently marked in force and first recorded in 1947.
Citation
This Order may be cited as the Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 4) Order 2000.
Declaration of provisions in accounts
It is hereby declared that under section 14I(3) of the Act, the provisions in the account of Bank Austria AG and Creditanstalt AG which have been transferred to Bank Austria Creditanstalt International AG —
shall not be deemed under section 14I(2)(b) of the Act to be trading receipts of Bank Austria AG and Creditanstalt AG; and
shall for the purposes of section 14I of the Act be treated as having been allowed to Bank Austria Creditanstalt International AG as a deduction under that section,subject to the conditions specified in the letter of approval dated 21st March 2000.
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