The Inland Revenue Authority of Singapore has published Advance Ruling Summary No. 10/2023 on the tax treatment of gains from the disposal of shares. --- Advance Ruling Summary No. 10/2023 1. Subject: Whether the gains derived by Company A from the disposal of ordinary shares in Company B (the "Shares") is capital in nature and not subject to tax under section 10(1) of the Income Tax Act 1947 (2020 Revised Edition) ("ITA"). 2. Relevant background and facts: a. Company A is a Singapore private company limited by shares. b. Company A had acquired the Shares as long-term investment. There was...