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Happy New Year!!


Dear all

It’s less than 14 hours before the end of 2013 and the start of 2014.

On behalf of WHM Consulting Pte Ltd, we wish our readers a wonderful year in 2014.

Spend every moment with your loved ones and say “I Love You!” to them.

Always Live with Passion!
Jack:)

BFH v Comptroller of Income Tax [2013] SGHC 161


In this case, the taxpayer made a lump-sum payment of S$100M to the Info-Comm Development Authority for the grant of a 3G Facilities Based Operator (“FBO“) Licence and certain radio frequency spectrum for 3G mobile telecommunication services (“3G Spectrum Rights“) for a period of 20 years.

The issue at the Income Tax Board of Review (“ITBR“) was whether the payment in question was a revenue expense deductible under Section 14(1) of the Income Tax Act (“the Act“) or a capital expenditure that is not deductible under Section 15(1)(c).

The ITBR held that the payment was capital in nature and hence not deductible.  BFH appealed to the High Court and Andrew Ang J delivered the judgement.
Continue reading BFH v Comptroller of Income Tax [2013] SGHC 161