OrbitaxSingapore Publishes Guide on the General Anti-avoidance Provision and its Application
|Approved Changes|Singapore
On 11 July 2016, the Inland Revenue Authority of Singapore (IRAS) published a first edition e-Tax guide on the general anti-avoidance provision in section 33 of the Income Tax Act (ITA) and its application.
Arrangements Subject to Section 33
The general anti-avoidance provision applies to avoidance arrangements falling in four groups:
- Circular flow or round-tripping of funds;
- Setting-up of …
