Singapore legislation
Section 65
of Economic Expansion Incentives (Relief from Income Tax) Act
Section 65
Exemption from tax where investment made in approved enterprise
Amended by22/87
Where, in accordance with section 64, the tax payable on any approved royalties, fees or contributions is at a reduced rate, and it is proved to the satisfaction of the Comptroller that the royalties, fees or contributions, either wholly or in part, have been expended in the acquisition of ordinary share capital in the company from which those payments were received, the amount of income equal to that expenditure shall be exempt from tax.