Clause 32

in subsection (2A)(a)(i) and (b)(i), replace “or income from the management or holding of immovable property” with “, income from the management or holding of immovable property, co‑location income or co‑working space income,”;

in subsection (2A)(a)(ii) and (b)(ii), after “holding of immovable property”, insert “, or that is ancillary to co‑location income or co‑working space income,”;

in subsection (2A)(a)(iii), after “immovable property in Singapore,”, insert “or co‑location income or co‑working space income in relation to immovable property in Singapore,”;

in subsection (2A)(ba), replace “in the period between 1 July 2018 and 31 December 2025 (both dates inclusive)” with “on or after 1 July 2018”;

after subsection (2C), insert —“(2D) In subsection (2A)(a) and (b), any reference to co‑location income or co‑working space income is to such income that is derived on or after 1 July 2025.”;

in the following provisions, replace “2025” with “2030”:Subsection (3B)Subsection (3C)(b)Subsection (3D)Subsection (3E);

in subsection (3F), after paragraph (a), insert —“(aa)a partner of an approved limited partnership under section 13OA;”;

in subsection (3F)(w), replace “or an approved foreign government‑owned entity under section 13V.” with “, an approved foreign government‑owned entity, a prescribed international organisation or an approved international organisation under section 13V.”;

in subsection (10), after the definition of “captive insurer”, insert —“ “co‑location income” means any income that is derived from the undertaking of both of the following:

the provision of a physical space relating to any immovable property for use by one or more persons to house or operate any information technology equipment belonging to that person or those persons;

the provision of any infrastructure, facilities or services, relating to the immovable property used to house or operate the information technology equipment;“co‑working space income” means any income that is derived from the undertaking of both of the following:

the provision of a physical space within any immovable property for use by one or more persons to carry out any activity relating to their respective trades, businesses or operations, and to use the communal facilities, within the physical space;

the provision of any infrastructure, facilities or services within the immovable property for use by that person or those persons for the purposes mentioned in paragraph (a);”; and

after subsection (10), insert —“(10A) In the definition of “co‑location income” in subsection (10), a reference to an immovable property includes such property (whether or not immovable property) used or to be used to house or operate any information technology equipment as may be prescribed by rules made under section 7.”.