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Tax Exemption Scheme for New Start-Up Companies

For the first two Years of Assessment (YA), client (a company) has a single corporate shareholder. This would mean that client did not qualify for full tax exemption.

For the 3rd YA, its corporate shareholder sold its shares to two individuals on the very day of the basis period.

Question – Does the client qualify for Full exemption for 3rd YA?

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