| Apportionment of expenses, allowances and donations |
| Apportionment of expenses, allowances and donations in respect of income derived before 1 July 2021 |
6.—(1) For the purpose of determining the income mentioned in regulation 4(1), any item of expenditure not directly attributable to the offshore life business of an approved insurer, and capital allowances and donations, allowable to the approved insurer under the Act, shall be apportioned between such business and the other life insurance business of the approved insurer; and the portion attributable to such business shall be ascertained by using the fraction —
[S 81/2009 wef Y/A 2005 & Sub Ys/A] [S 491/2021 wef 01/07/2021]
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