Singapore Advance Ruling on the Tax Treatment of Gains from the Disposal of Shares

The Inland Revenue Authority of Singapore has published Advance Ruling Summary No. 10/2023 on the tax treatment of gains from the disposal of shares.

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Advance Ruling Summary No. 10/2023

1. Subject:

Whether the gains derived by Company A from the disposal of ordinary shares in Company B (the "Shares") is capital in nature and not subject to tax under section 10(1) of the Income Tax Act 1947 (2020 Revised Edition) ("ITA").

2. Relevant background and facts:

a. Company A is a Singa…