Latest Updates

• renumbered provisions in the Income Tax Act 1947; 
• citation of Acts;
• all the illustrations to more recent YAs; and
• the relevant references to SFRS(I).

The e-Tax Guide has been updated with the following changes: 

• Inserted new tax avoidance categories and examples in section 6:
  • Setting up of conduit entity to obtain treaty benefit for the purpose of avoiding withholding tax
  • Assignment of debt to an offshore jurisdiction for the main purpose of obtaining tax advantage
• Inserted section 9 on section 33A surcharge

The e-Tax Guide has been updated with the following changes: 

• Renumbered provisions in the Income Tax Act 1947 (2020 Revised Edition)
• Addition of “a body of persons” in paragraph 7.1 and footnote 4 to incorporate the changes under section 37D(4AA) with effect from YA 2023. The subsequent footnotes were renumbered
• Editorial changes to footnote 6 and paragraph 9.4

The e-Tax Guide has been updated with the following changes: 

• Updated the renumbered provisions based on the Income Tax Act 1947
• Updated the citation of Acts

The e-Tax guide has been updated with the following changes: 

• Replaced the “Introduction” section with “Aim” and “At a Glance” sections
• Added footnote 2 on FRS 109 replacing FRS 39 for annual periods beginning on or after 1 January 2018
• Updated footnote 10 and row 2(b) in Annex 2 with 11 March 2005 being the issuance date of the MAS Notices 612, 1005 and 811 relevant to the FRS 39 regime
• Amended paragraph 4.7 with the renamed section 14G of ITA 1947
• Updated paragraph 4.15 with 2017 volume of FRS 32
• Amended paragraph 4.19 by deleting the wordings “without adjustment for any provisions made and valuation surplus/deficit” to make clear that for TAM, the value of financial assets refers to the value reported in the balance sheet.
• With the above changes, consequential re-numbering is made to all paragraphs and footnotes.