The Inland Revenue Authority of Singapore has published Advance Ruling Summary No. 17/2022, concerning the tax treatment of liquidation proceeds. --- Advance Ruling Summary No. 17/2022 Subject: Whether the Liquidation Proceeds (defined below) to be derived by Company A upon liquidation of Company B are capital in nature and not assessable to tax under section 10(1) of the Income Tax Act 1947 (2020 Revised Edition) ("ITA"). Relevant background and facts: Company A is a company incorporated and tax resident in Singapore. In year X, it was designated to act as the main holding company for investments of the ultimate beneficial...