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Tax deductions for banks' Basel III issues

Additional Tier 1 instruments to be treated as debt for tax purposes, to level field for S'pore-incorporated banks
Saturday, February 22, 2014 - 06:00

LOCAL banks which have been selling debt to boost their capital in order to fall in line with stricter regulatory requirements gained more clarity yesterday on the tax treatment for their funding instruments. The government said: "To provide tax certainty and maintain a level playing field for

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