The Inland Revenue Authority of Singapore has published Advance Ruling Summary No. 19/2025 on the income tax issues relating to the transfer of businesses.
---
Advance Ruling Summary No. 19/2025
1. Subject:
a. Whether the transfer of businesses from Branch A is a capital transaction and gains (if any) arising thereon are not subject to tax under the Income Tax Act 1947 (the "ITA"), except for:
- the transfer of inventory (where the rules under Section 32 of the ITA will apply, where a…