Amendments
The e-Tax guide has been updated with the following changes:
- Removed the following as they are no longer relevant:
- “incorporated before 1 January 2003” in paragraph 3.4;
- “incorporated on or after 1 January 2003” in paragraph 3.7; and
- paragraph 3.6 on “Franked dividend”
- Updated footnote 2 to indicate s62B of ITA will not apply to company licensed under the Insurance Act 1966 to carry on insurance business in Singapore in respect of accounting periods beginning on or after 1 January 2023.
- Inserted new paragraphs 5.12 and 5.13 on “Election of section 25 for transfer of property”.
- Removed paragraphs 5.23 and 5.25 as payment of dividends under the imputation system is no longer relevant.
- Inserted new paragraph 5.25 on Singapore interest / distributions from REIT.
- Updated Table 2 - Summary of translation method in para 5.29 to incorporate the above changes.
- Updated examples in the Annex to more recent YAs.
- Made editorial changes to various paragraphs.
