Introducing Section 10L, a new tax provision targeting foreign-sourced disposal gains received in Singapore. This regulation aims to tax gains derived by relevant entities within multinational groups that lack adequate economic substance in Singapore. Aligned with Singapore’s strategic objectives of fostering robust domestic economic activities while mitigating international tax avoidance risks, this change underscores the importance of regulatory compliance.

Download our article to delve into essential insights for Section 10L, unravelling the intricacies of tax treatment concerning gains or losses from the sale of Foreign Assets.