The Inland Revenue Authority of Singapore has published Advance Ruling Summary No. 17/2022, concerning the tax treatment of liquidation proceeds.
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Advance Ruling Summary No. 17/2022
Subject:
Whether the Liquidation Proceeds (defined below) to be derived by Company A upon liquidation of Company B are capital in nature and not assessable to tax under section 10(1) of the Income Tax Act 1947 (2020 Revised Edition) ("ITA").
Relevant background and facts:
Company A is a company incor…