The Inland Revenue Authority of Singapore has published Advance Ruling Summary No. 5/2024 on the characterization of hybrid instruments and related issues.

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Advance Ruling Summary No. 5/2024

1. Subject:

Whether:

a. The subordinated perpetual securities (the "Securities") will be regarded as "debt securities" for the purpose of Section 43H(4) of the Income Tax Act 1947 ("ITA") and Re…

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