Singapore - When Will a Commercial Transaction Constitute a Tax Avoidance Scheme in Singapore?
- J.H.M. Wong
- Derivatives & Financial Instruments, 2012 (Volume 14), No 1
- 30 December 2011
This article reviews AQQ v. the Comptroller of Income Tax, a 2011 case concerning the applicability of the general anti-avoidance provision under the Income Tax Act. The Court’s reasoning underlying its conclusion that the taxpayer’s financing arrangement was a tax avoidance scheme for Singapore tax purposes, is also considered.