Singapore legislation
Section 43O
Section 43O
Concessionary rate of tax for aircraft investment manager
(1)
Despite section 43, the Minister may by regulations provide that tax at the rate of 10% is to be levied and paid for each year of assessment upon such income as the Minister may specify of an approved aircraft investment manager derived by it on or after 1 March 2007 from —
managing an approved aircraft leasing company; or
such other services or activities carried out for an approved aircraft leasing company as may be prescribed by regulations.
(2)
Regulations made under subsection (1) may provide for the deduction of losses otherwise than in accordance with section 37(3).
(3)
The Minister or a person appointed by the Minister may, subject to such conditions as the Minister or person may impose, approve an aircraft investment manager as an approved aircraft investment manager for the purposes of this section.
(4)
Approval may be granted under this section between 1 March 2007 and 31 December 2022 (both dates inclusive).
(5)
In this section —
Definition
“aircraft investment manager” means any company incorporated in Singapore;
Definition
“aircraft leasing company” has the meaning given by section 43N;
Definition
“approved” means approved by the Minister or such person as the Minister may appoint.[43Z