Income Tax (Deduction for Acquisition of Shares of Companies) Regulations 2012 [S584/2012] deemed to have come into operation on 1 April 2010

On By taxsgIn e-Gazette, Legislative Updates

30 November 2012

The Income Tax (Deduction for Acquisition of Shares of Companies) Regulations 2012, published on 27 November 2012, shall be deemed to have come into operation on 1 April 2010.

The Regulations cover:

PART I: GENERAL

2. Definition

PART II: ELECTION OF QUALIFYING ACQUISITIONS

3. Elected qualifying acquisitions

4. Capital expenditure of elected qualifying acquisitions

PART III: CONDITIONS FOR DEDUCTIONS

5. Application of conditions for deductions

PART IV: DIVESTMENTS

6. Definitions of this Part

7. Adjustment of deductions allowable following divestments in relevant divestment period

8. Adjustment or disallowance of deductions allowable following divestments after relevant divestment period

9. Disregarding of acquisitions and divestments in certain cases

PART V: APPLICATION TO BUSINESS TRUSTS

10. Application to business trusts

The Schedule

Source: Government Gazette