Singapore legislation
Regulation 17
Regulation 17
Treatment of unclaimed prizes
Where any prizes are made as winnings at a betting operation, and the amount or value of the prize is not redeemed by the date of expiry of the prize —
(a)
the unredeemed amount must be included in the gross betting profit in the tax accounting period during which the prize expires; and
(b)
if the taxable person subsequently allows the redemption of an unclaimed prize which was previously included in the gross betting profit under paragraph (a), the amount subsequently redeemed may be deducted from the gross betting profit in the tax accounting period during which it is subsequently redeemed.