On May 16 2014, the Inland Revenue Authority of Singapore issued guidance on the application of the country's mergers and acquisitions scheme. The scheme, introduced in 2010 and enhanced in 2012, provides for tax allowances and stamp duty relief for qualifying M&A transactions during the period 1 April 2010 to 31 March 2015. Benefits of the Scheme The tax allowance is 5% of the value of a share acquisition subject to a cap of SGD 5 million per year of assessment. The allowance is written down equally over 5 years and cannot be deferred. The stamp duty relief is available...