The Inland Revenue Authority of Singapore (IRAS) has published a new e-Tax Guide, Tax Framework for Transfer of Business by Insurers. The e-Tax Guide sets out the tax framework for the transfer of business by insurers licensed under section 11 of the Insurance Act 1966 (licensed insurers) and is relevant to Singapore-incorporated licensed insurers that carry out a transfer of business effected by a scheme of transfer under section 117 of the Insurance Act 1966 (IA).
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2. At a glance
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