Section 10L: A Substance-Based Shift in Singapore’s Capital Gains Landscape

Section 10L: A Substance-Based Shift in Singapore’s Capital Gains Landscape For decades, Singapore has never imposed a standalone or comprehensive capital gains tax on individuals or companies. As at 1 January 2024, this long-standing position is no longer universally applicable for companies.   The introduction of Section 10L of the Income Tax Act (“ITA”) marks […]