Singapore legislation
Section 45A
Section 45A
Application of section 45 to royalties, management fees, etc.
(1)
Section 45(1) to (8) applies in relation to the payment of any income referred to in section 12(6) or (7) by any person to another person not known to the firstmentioned person to be resident in Singapore as those provisions apply to any interest paid by a person (X) to another person (Y) not known to X to be resident in Singapore and, for the purpose of such application, any reference in those provisions to interest is a reference to the income referred to in section 12(6) or (7).
(2)
Subject to such conditions as the Minister may impose, subsection (1) does not apply to any discount from any qualifying debt securities issued during the period from 17 February 2006 to 31 December 2023 (both dates inclusive).
(2A)
Subsection (1) does not apply to any amount payable from any Islamic debt securities which are qualifying debt securities, and issued during the period from 1 January 2005 to 31 December 2023 (both dates inclusive), subject to such conditions as the Minister may impose.
(2B)
Subject to such conditions as the Minister may impose, subsection (1) does not apply to —
any prepayment fee, redemption premium or break cost from any qualifying debt securities issued during the period from 15 February 2007 to 31 December 2023 (both dates inclusive); or
any discount, prepayment fee, redemption premium or break cost from any qualifying project debt securities issued during the period from 15 February 2007 to 31 December 2022 (both dates inclusive).
(2C)
Subject to such conditions as the Minister may impose, subsection (1) does not apply to —
such other income directly attributable to any qualifying debt securities issued on or after a prescribed date, as may be prescribed by regulations; or
such other income directly attributable to any qualifying project debt securities issued on or after a prescribed date, as may be prescribed by regulations.
(2D)
Subsection (1) does not apply to any payment liable to be made on or after 17 February 2012 under any agreement or arrangement for the charter of any ship.
(2DA)
2DA
To avoid doubt, the reference to a charter of a ship in subsection (2D) excludes a finance lease of the ship.
(2E)
Subsection (1) does not apply to any payment liable to be made on or after 21 February 2014 by a person to a branch in Singapore of a company incorporated outside Singapore and not known to the person to be resident in Singapore.
(3)
In this section —
Definition
“break cost”, “prepayment fee”, “qualifying debt securities”, “qualifying project debt securities” and “redemption premium” have the meanings given by section 13(16);
Definition
“finance lease”, in relation to a ship, means a lease of the ship (including any arrangement or agreement made in connection with the lease) that has the effect of transferring substantially the obsolescence, risks or rewards incidental to ownership of the ship to the lessee;
Definition
“Islamic debt securities” has the meaning given by section 43H(4);
Definition
“ship” has the meaning given by section 2(1) of the Merchant Shipping Act 1995.