The Inland Revenue Authority of Singapore has published Advance Ruling Summary No. 8/2023 on the tax treatment of certain income and expenses under the shipping incentive. --- Advance Ruling Summary No. 8/2023 1. Subject: Whether: a. the compensation income (i.e., Dowry income) received by Company A from its parent company, Company B, qualifies for tax exemption under Section 13E of the Income Tax Act 1947 (2020 Revised Edition) ("ITA"); and b. the compensation expense (i.e., Dowry expense) paid by Company A to Company B can be considered a direct expense incurred by Company A under Section 13E of the ITA....