Singapore legislation
Section 46
of Economic Expansion Incentives (Relief from Income Tax) Act
Section 46
International trading company
(1)
Where a company is engaged in —
international trade in qualifying manufactured goods or Singapore domestic produce and the export sales of those goods or produce separately or in combination exceed or are expected to exceed $10 million per annum; or
entrepot trade in any qualifying commodities and the export sales of those qualifying commodities exceed or are expected to exceed $20 million per annum,the company may apply in the prescribed form to the Minister for approval as an international trading company.
(2)
The Minister may, if he considers it expedient in the public interest to do so, approve the application and issue the company with a certificate subject to such terms and conditions as he thinks fit.
(3)
The Minister may issue separate certificates to an international trading company for the purposes of subsection (1)(a) and (b).
(4)
Every certificate issued under this section shall specify a date as the commencement day from which the company shall be entitled to tax relief under this Part.
(5)
The Minister may, in his discretion, upon the application of an international trading company, amend its certificate by substituting for the commencement day specified therein such earlier or later date as he thinks fit and thereupon the provisions of this Part shall have effect as if the date so substituted were the commencement day in relation to that certificate.
(6)
A company shall furnish to the Minister at the time of application to be an international trading company a statement of all its associated companies and export agents and the activities they are engaged in and such other particulars as may be required.
(7)
Where there is any change in the particulars of the company, the company shall notify the Minister as soon as possible of the change.