Determining if Foreign-Sourced Disposal Gains Fall Within S10L of ITA

From 1 January 2024, gains from the sale of foreign assets received in Singapore will be taxed under Section 10(1)(g) of the Income Tax Act 1947 (ITA) if the gains fall within the scope of the foreign-sourced disposal gains tax regime provided in Section 10L of the ITA.

The flowchart below aims to guide users in determining whether gains from the sale of foreign assets fall within the scope of the foreign-sourced disposal gains tax regime.