Singapore legislation
Clause 52
Clause 52
Amendments relating to acts done before assignment of functions or powers under section 3A
(1)
In the ITA, in section 43E, after subsection (3), insert —“(3A) The reference to an authorised body in subsection (1A)(c) is, in a case where the concessionary rate of tax in that provision applicable to the approved Finance and Treasury Centre of a company is specified to the company during the period from 17 February 2024 to 11 April 2024 (both dates inclusive), a reference to a person appointed by the Minister.(3B) A reference in subsections (1A)(d) and (1B) to an authorised body is, in a case where the notice to substitute the concessionary rate of tax applicable to the approved Finance and Treasury Centre of a company is given to the company during the period from 17 February 2024 to 11 April 2024 (both dates inclusive), a reference to a person appointed by the Minister.”.
(2)
In the ITA, in section 43I, after subsection (3), insert —“(4) A reference in subsections (1AA)(d) and (1AC) to an authorised body is, in a case where the notice to substitute the rate of tax applicable to an approved global trading company is given to the company during the period from 17 February 2024 to 11 April 2024 (both dates inclusive), a reference to a person appointed by the Minister.”.
(3)
In the ITA, in section 43N, after subsection (7), insert —“(8) The reference to an authorised body in subsection (1)(c) is, in a case where the concessionary rate of tax in that provision applicable to an approved aircraft leasing company is specified to the company during the period from 17 February 2024 to 11 April 2024 (both dates inclusive), a reference to a person appointed by the Minister.(9) A reference in subsections (1)(d) and (1D) to an authorised body is, in a case where the notice to substitute the concessionary rate of tax applicable to an approved aircraft leasing company is given to the company during the period from 17 February 2024 to 11 April 2024 (both dates inclusive), a reference to a person appointed by the Minister.”.
(4)
In the ITA, in section 43X —
in subsection (5)(a), replace “authorised body” with “person appointed by the Minister”; and
after subsection (13), insert —“(14) The reference to an authorised body in subsection (5)(b) is, in a case where the base rate in that provision is specified to an approved company during the period from 17 February 2024 to 11 April 2024 (both dates inclusive), a reference to a person appointed by the Minister.(15) A reference in subsections (5)(c) and (6A) to an authorised body is, in a case where the notice to substitute the base rate applicable to an approved company is given to the company during the period from 17 February 2024 to 11 April 2024 (both dates inclusive), a reference to a person appointed by the Minister.(16) A reference in subsections (5)(d) and (6)(a) to an authorised body is, in a case where the rate increase under subsection (6)(a) is specified to an approved company during the period from 1 January 2024 to 11 April 2024 (both dates inclusive), a reference to a person appointed by the Minister.(17) A reference in subsections (5)(d) and (6)(b) to an authorised body is, in a case where the rate increase under subsection (6)(b) is specified to an approved company during the period from 17 February 2024 to 11 April 2024 (both dates inclusive), a reference to a person appointed by the Minister.”.