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May 2024

Capital Gains Tax Implications in Singapore on Capital Reduction or Liquidation

By Sanjay V Iyer, CA (Scotland), Adv LLM, TEP, BSc (Hons)
Reading Time 9 mins

A. BACKGROUND

A.1. A Singapore company (“SGCo”) is owned by two UK-resident individual shareholders (“UKS”).

A.2. SGCo owns shares in 3 Indian entities (“the Shares”):

a) An associate purchased in March 2017 (“ACo”)

b) A subsidiary purchased in November 2014 (“S1Co”)

c) A subsidiary purchased in November 2014 (“S2Co”)

A.3. The Shares were originally contributed into SGCo by UKS via the issuance of ordinary share capital.

A.4. UKS wishes to transfer the Shares to themselves and close the Singapore entity.

B. QUERIES

What are the Singapore options and related consequences?

C. WHAT ARE THE OPTIONS?Read More

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