As announced in Budget 2012, the mergers and acquisitions allowance and stamp duty relief scheme ("M&A scheme") will be enhanced.
Pursuant to an e-Tax Guide issued by the Inland Revenue Authority of Singapore (IRAS) on 28 June 2012, the existing M&A scheme will be enhanced as follows:
| – | the requirement that a wholly-owned acquiring subsidiary must be directly owned by the acquiring company is removed. The acquiring subsidiary may now be… |