Section 33 Income Tax Act Singapore

4 2 in singapore the general anti avoidance provision is found in section 33 of the ita which was enacted to curb the proliferation of blatant tax avoidance arrangements in singapore.

Section 33 income tax act singapore. Relief from income tax act expires in any basis period ending on or after 1st january 1992 and the person has. Comptroller means the comptroller of income tax appointed under section 3 1 and includes for all purposes of this act except the exercise of the powers conferred upon the comptroller by sections 34f 9 37ie 7 37j 5 67 1 a 95 96 96a and 101 a deputy comptroller or an assistant comptroller so appointed. Income tax act act income tax act subsidiary legislation legislation is reproduced on this website with the permission of the government of singapore. Act 33 of 2019 wef 01 01 2020 authentication code in relation to any person means an identification or identifying code a password or any other authentication method or procedure which is assigned to that person for the purposes of identifying and authenticating the access to and use of the electronic service by that person.

1 subject to this act the adjusted income of a person from a source for the basis period for a year of assessment shall be an amount ascertained by deducting from the gross income of that person from that source for that period all outgoings and expenses wholly and exclusively incurred during that period by that person in the production of gross income from that source including. 1 any person who obstructs or hinders the comptroller or any officer in the discharge of his duties or the exercise of his powers under this act shall be guilty of an offence and shall be liable on conviction to a fine not exceeding 10 000 or to imprisonment for a term not exceeding 12 months or to both. The recent income tax amendment act1 introduced a new anti avoidance provision in place of the old provision in section 33 of the income tax act 2 by this move singapore joined the ranks of nations with wider anti avoidance provisions. On due claim for any year of assessment and in lieu of the allowances provided by section 19 an annual allowance of 33 1 3 in respect of the capital.

Section 33 empowers the cit to disregard and make relevant adjustments to arrangements which are carried out with tax. 1 a person not resident in singapore referred to in this section as a non resident person shall be assessable and chargeable to tax either directly or in the name of his trustee guardian or committee or of any attorney factor agent receiver branch or manager whether such attorney factor agent receiver branch or manager has the receipt of the income or not in like manner and to the like amount as such non resident person would be assessed and charged if he were resident in. Prior to this amendment it could be said that it was possible for an individual to order his affairs so as to.