Clause 10

by deleting paragraph (o) of subsection (1) and substituting the following paragraph:“(o)payments made under any agreement or arrangement approved by the Minister or such person as he may appoint to a person not resident in Singapore (excluding any permanent establishment in Singapore) by an international shipping enterprise approved under section 13F —

on or after 1st April 1991 for the charter of a foreign ship within the meaning of that section (other than that used for towing or salvage operations during the period 1st April 1991 to 2nd May 2002);

on or after 27th February 1999 for the charter of a floating production storage offloading ship or floating storage offloading ship; and

on or after 3rd May 2002 for the charter of a dredger, seismic ship or semi-submersible rig,except for any payment attributable to the carriage of passengers, mails, livestock or goods from Singapore;”;

by inserting, immediately after paragraph (q) of subsection (1), the following paragraph:“(r)the income derived on or after 3rd May 2002 by an individual not resident in Singapore from acting as an arbitrator, and for this purpose, “arbitrator” means an individual appointed for any arbitration which is governed by the Arbitration Act (Cap. 10) or the International Arbitration Act (Cap. 143A) or would have been governed by either of those Acts had the place of arbitration been Singapore;”;

by deleting the word “and” at the end of subsection (1)(y);

by deleting the full-stop at the end of paragraph (z) of subsection (1) and substituting the word “; and”, and by inserting immediately thereafter the following paragraph:“(za)any dividends accrued in or derived from Singapore on or after 1st January 2003 paid by any company from which tax is not deductible and not deducted under section 44.”;

by deleting subsection (8) and substituting the following subsection:“(8) The Minister may by order —

exempt from tax wholly or in part; or

provide that tax at such concessionary rate of tax be levied and paid on,the income received by a person resident in Singapore from such source in any country outside Singapore as may be specified in the order.”;

by inserting, immediately after the word “tax” in subsection (9), the words “or be taxed at a concessionary rate of tax”;

by inserting, immediately after the word “tax” in the 1st line of subsection (10), the words “or is taxed at a concessionary rate of tax”;

by inserting, immediately after the word “income” in subsection (10)(a), the words “exempt from tax or an amount equal to the net income after deduction of tax levied at the concessionary rate of tax, as the case may be,”; and

by deleting the words “, (12) and (13)” in subsection (10)(b).