The Inland Revenue Authority of Singapore has published Advance Ruling Summary No. 12/2021, concerning whether the use of unremitted dividend income for a proposed share capital reduction exercise will be treated as a remittance or deemed remittance into Singapore. --- Advance Ruling Summary No. 12/2021 Subject: Whether: the assignment of an amount receivable from a related company which was made up of unremitted foreign-sourced dividend income, for the purpose of a share capital reduction exercise; and the payment of a service fee using the unremitted foreign-sourced dividend income, constitute a remittance or deemed remittance into Singapore under Section 10(25) of...