Singapore legislation

Clause 9

of Income Tax (Amendment No. 3) Bill

Clause 9

Amendment of section 13S

Section 13S of the principal Act is amended —

(a)

by inserting, immediately before the word “from” in subsection (1)(a) and (b), the words “before 25 March 2016”;

(b)

by inserting, immediately before the word “for” in subsection (1)(c), the words “before 25 March 2016,”;

(c)

by deleting the word “and” at the end of paragraph (c) of subsection (1), and by inserting immediately thereafter the following paragraphs:“(ca)on or after 25 March 2016 from the chartering or finance leasing of any sea‑going ship acquired by the approved shipping investment enterprise before or during the period of its approval mentioned in subsection (3), for use outside the limits of the port of Singapore;

(cb)on or after 25 March 2016 from foreign exchange and risk management activities which are carried out in connection with and incidental to any activity mentioned in paragraph (ca); and”;

(d)

by deleting the words “or (c)” in subsection (1A) and substituting the words “, (c), (ca) or (cb)”;

(e)

by inserting, immediately after the words “offshore oil or gas activity” in subsection (4)(b), the words “, offshore renewable energy activity or offshore mineral activity”; and

(f)

by deleting the words “and (c)” in subsection (6) and substituting the words “, (c), (ca) and (cb)”.

Read in full context — Income Tax (Amendment No. 3) Bill →