The SGC was very pleased to host the last Thursdays with the SGC Webinar session of 2023; this time with our guest speaker, Mr Loh Eng Kiat, Sports Business Tax Leader at Deloitte Singapore.

From 1 January 2024, Singapore may start taxing gains from the sale of foreign assets with the enactment of the new section 10L – the Income Tax Amendment Bill. This affects all entities that received gains from the sale or disposal of foreign assets in Singapore. Mr Loh emphasised in his closing remarks that there will likely be an increasing range of options available for taxpayers to obtain certainty. We would like to extend our thanks to Mr Loh for his insightful presentation.