Singapore legislation

Clause 41

Amendment of section 43N

Section 43N of the principal Act is amended —

(a)

by inserting, immediately after subsection (2), the following subsection:“(2A) Subsection (1) shall not apply to income from qualifying debt securities derived by a financial sector incentive (standard tier) company.”; and

(b)

by inserting, immediately after the definition of “debt securities” in subsection (4), the following definition:“ “financial sector incentive (standard tier) company” means a financial sector incentive company within the meaning of section 43Q(3), being one that has been approved by the Minister or such person as he may appoint as a financial sector incentive (standard tier) company;”.

Read in full context — Income Tax (Amendment) Bill →