s 92E Remission of tax of companies for year of assessment 2016
92E. Where the Comptroller is satisfied that the remission of tax would be beneficial to a company, then there is to be remitted the tax payable for the year of assessment 2016 by the company of an amount equal to the lower of the following:(a) 50% of the tax payable for that year of assessment (excluding any tax levied and paid or payable pursuant to section 43(3), (3A) and (3B)); (b) $20,000.[2/2016; 34/2016; 39/2017]