The Inland Revenue Authority of Singapore has published Advance Ruling Summary No. 8/2023 on the tax treatment of certain income and expenses under the shipping incentive.
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Advance Ruling Summary No. 8/2023
1. Subject:
Whether:
a. the compensation income (i.e., Dowry income) received by Company A from its parent company, Company B, qualifies for tax exemption under Section 13E of the Income Tax Act 1947 (2020 Revised Edition) ("ITA"); and
b. the compensation expense (i.e., Dowr…