Singapore legislation
Regulation 4
of Income Tax (Income from Funds Managed for Foreign Investors) Regulations 2003
Regulation 4
No deduction in respect of loss arising from designated investments
Amended byS 627/2007 wef 15/02/2007
Notwithstanding anything in these Regulations, no deduction shall be allowed under the Act to any foreign investor in respect of any loss arising from —
(a)
the sale of any designated investments if any gains or profits realised from the sale of such investments would have been exempt from tax under regulation 3; and
(b)
transactions referred to in paragraphs (c), (k), (l), (p), (q) and (r) of the definition of “designated investments”.