Clause 14

Notwithstanding section 43, the Minister may by regulations provide that tax at the rate of 10% or such other concessionary rate shall be levied and paid for each year of assessment upon such income as the Minister may specify of an approved credit rating agency derived by it from the provision of such services as may be prescribed.(2) Regulations made under subsection (1) may provide for the deduction of losses otherwise than in accordance with section 37(2).(3) In this section, “credit rating agency” means a company carrying on the business in Singapore of providing credit rating services.”.