Singapore legislation
Clause 13
of Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill
Clause 13
Repeal and re-enactment of section 77
Section 77 of the principal Act is repealed and the following section substituted therefor:“Tax relief period of warehousing company or servicing company77.—
The tax relief period of a warehousing company or a servicing company shall commence on its commencement day and shall continue for such period, not exceeding 10 years, as the Minister may, in his discretion, determine.(2) The Minister may, where he is satisfied that it is expedient in the public interest to do so and subject to such terms and conditions as he may impose, extend the tax relief period of any warehousing company or servicing company for such further period or periods, not exceeding 5 years at any one time, as he may determine, except that the tax relief period of the warehousing company or servicing company shall not in the aggregate exceed 20 years.”.