The Inland Revenue Authority of Singapore has published Advance Ruling Summary No. 4/2025 on whether a company is carrying on a trade or business or a passive investment holding company, and its income tax implications.
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Advance Ruling Summary No. 4/2025
1. Subject:
Whether:
a. The company has carried on a trade or business for the purposes of the Income Tax Act 1947 ("ITA"), and derived income under Section 10(1)(a) of the ITA;
b. The change to be a passive investment holding co…