Income Tax (Amalgamation of Companies) Regulations 2011

Part II GENERAL MODIFICATIONS AND EXCEPTIONS TO ACT AND THE ECONOMIC EXPANSION INCENTIVES (RELIEF FROM INCOME TAX) ACT 1967

3 Modification or exception to Act or Economic Expansion Incentives (Relief from Income Tax) Act 1967 for deductions, allowances and writing-down allowances claimable for more than one year of assessment

Part III SPECIFIC MODIFICATIONS AND EXCEPTIONS TO ACT AND THE ECONOMIC EXPANSION INCENTIVES (RELIEF FROM INCOME TAX) ACT 1967

Division 1 — Specific Modifications and Exceptions to the Act

4 Modification or exception to section 13A of Act (Exemption of shipping profits)

5 Modification or exception to section 13J of Act (Equity remuneration incentive scheme (start-ups))

5A Modifications to section 13W of Act (Exemption of gains or profits from disposal of ordinary shares)

5B Modifications to provisions of Act in relation to Productivity and Innovation Credit Scheme

5C Modifications to section 14B of Act (Further deduction for expenses relating to approved trade fairs, exhibitions or trade missions or to maintenance of overseas trade office)

5D Modifications to section 14H of Act (Further or double deduction for overseas investment development expenditure)

5E Modifications to section 14I of Act (Further or double deduction for salary expenditure for employees posted overseas)

7 Modification or exception to section 14N of Act (Deduction for renovation or refurbishment expenditure)

8 Modification or exception to sections 23 (Carry forward of allowances) and 37 of Act (Assessable income)

8A Modifications to section 37P of Act (Treatment of unabsorbed donations attributable to exempt income)

9 Modification or exception to section 37B of Act (Group relief for Singapore companies)

10 Modification or exception to section 37F of Act (Deduction for incremental expenditure on research and development)

11 Modification or exception to section 37H of Act (Cash grant for research and development expenditure for start-up company)

11A Modifications to section 37G of Act (Cash payout under Productivity and Innovation Credit Scheme)

11B Modifications to section 37H of Act (Productivity and Innovation Credit bonus)

12 Modification or exception to section 43F of Act (Concessionary rate of tax for offshore leasing of machinery and plant)

Division 1A — Specific Modifications to section 37O of Act

12B Treatment of deduction under section 37O of Act (Deduction for acquisition of shares of companies) to which amalgamating company which has ceased to exist is entitled

12C Modification of section 37O of Act when target company is another amalgamating company which ceases to exist after amalgamation

12D Treatment of unabsorbed deduction under section 37O of Act of amalgamating company which ceases to exist

12E Modifications of section 37O of Act when amalgamated company incurs contingent consideration for acquisition by amalgamating company

12F Modification to cap on deduction allowable to amalgamated company in respect of capital expenditure under section 37O of Act

12G Modification to cap on deduction allowable to amalgamated company in respect of transaction costs under section 37O of Act

Division 2 — Specific Modifications and Exceptions to the Economic Expansion Incentives (Relief from Income Tax) Act 1967

13 Modification or exception to sections 45 to 46 of Economic Expansion Incentives (Relief from Income Tax) Act 1967 (Investment allowance)

13A Modification to sections 53 to 57 of Economic Expansion Incentives (Relief from Income Tax) Act 1967 (Integrated investment allowance)

14 Prescribed period for purposes of section 34C of Act (Amalgamation of Companies) read with section 43 of Act (Rate of tax upon companies and others)

15 Functional currency of amalgamating company and amalgamated company