The Inland Revenue Authority of Singapore has published an updated e-Tax Guide, Tax Framework for Corporate Amalgamations (Fourth Edition). The tax framework was introduced under section 34C of the Income Tax Act (ITA) in 2009 to minimize the tax consequences arising from corporate amalgamations. Background information and the income tax treatment of corporate amalgamations before and after the introduction of the tax framework are provided in the e-Tax guide as follows:
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Background
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