The Inland Revenue Authority of Singapore has published Advance Ruling Summary No. 13/2023 on the tax treatment of initial and subsequent gains derived from the sale of shares.
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Advance Ruling Summary No. 13/2023
1. Subject:
Whether the initial and subsequent gains derived from the sale of shares in Company B should constitute as capital gains and not as trading income assessable under section 10(1)(a) of the Income Tax Act 1947 (2020 Revised Edition) ("ITA").
2. Relevant backgro…