On 26/05/2013,
you requested for the version in force on 26/05/2013
incorporating all amendments published on or before 26/05/2013.
The closest version currently available is that of 31/12/2009.
20. Section 19B of the principal Act is amended —
(a)
by inserting, immediately after subsection (2B), the following subsection:
“(2C) Notwithstanding subsections (1) and (2), where a company that is an approved media and digital entertainment company carrying on a trade or business has acquired on or after 22nd January 2009 approved intellectual property rights pertaining to films, television programmes, digital animations or games, or other media and digital entertainment contents, for use in that trade or business, writing-down allowances in respect of the capital expenditure incurred in acquiring those rights —
(a)
shall be made to it during a writing-down period of 2 years beginning with the year of assessment relating to the basis period in which that expenditure is incurred; and
(b)
for each such year of assessment shall be an amount equal to 50% of the capital expenditure incurred.”;
(b)
by deleting the words “subsection (1)” wherever they appear in subsections (4), (5), (10) and (10A) and substituting in each case the words “subsections (1) and (2C)”;
(c)
by inserting, immediately before the definition of “capital expenditure” in subsection (11), the following definition:
“ “approved” means approved by the Minister or such person as he may appoint, subject to such conditions as he may impose;”; and
(d)
by inserting, immediately after the definition of “intellectual property rights” in subsection (11), the following definition:
“ “media and digital entertainment company” means a company whose principal trade or business is to provide media and digital entertainment in Singapore;”.