The Inland Revenue Authority of Singapore has published Advance Ruling Summary No. 9/2021, concerning income tax issues relating to the amalgamation of companies.
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Advance Ruling Summary No. 9/2021
Subject:
Whether:
- the income of Company A (the amalgamated company) would be regarded as income arising from the same trade or business as that of Company B (the amalgamating company) immediately before the amalgamation; and
- the unabsorbed losses and unabsorbed investment allowances (" U…