As announced in Budget 2012, gains derived by companies from the disposal of certain equity investments on or after 1 June 2012 will not be taxable. Details on this rule have been issued by the Inland Revenue Authority of Singapore via an e-Tax Guide published on 30 May 2012. Pursuant to the Guide, gains derived by a divesting company from its disposal of ordinary shares in an investee company during the period 1 June 2012 to 31 May 2017 (both dates inclusive) are not taxable if, immediately prior to the date of share disposal, the divesting company had held at least...