The Inland Revenue Authority of Singapore has published Advance Ruling Summary No. 6/2021, concerning whether the sale of an interest in a certain investment (XY interest) is a capital transaction and therefore any costs/loss associated with the sale and gains (if any) arising therefrom should not be deductible and taxable respectively under the provisions of the Income Tax Act (ITA).
Relevant background and facts:
ABC Trust is a listed business trust and registered under the Business Tru…