The Inland Revenue Authority of Singapore has published Advance Ruling Summary No. 4/2023, concerning the tax treatment of the sale of management shares held in a special purpose vehicle.
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Advance Ruling Summary No. 4/2023
Subject:
Whether the gains arising from disposal of Management Shares (defined below) held in Special Purpose Vehicle ("SPV") A and SPV B (collectively, the "Funds") by Company A to Company Z would be capital in nature and not subject to tax under the Income Tax A…