Singapore legislation
Clause 43
of Economic Expansion Incentives (Relief from Income Tax) Bill
Clause 43
Reduction of, or exemption from, tax
(1)
Notwithstanding paragraph (b) of section 43 of the Income Tax Ordinance (Cap. 166), the tax leviable and payable for each year of assessment upon any approved royalties, fees or contributions paid by a company to a non-resident person shall be at the rate of twenty per centum on every dollar of such approved royalties, fees or contributions.
(2)
The Minister may, if he is satisfied that it is expedient in the public interest to do so, by an indorsement to that effect on the approved royalties, fees or contributions certificate exempt such royalties, fees or contributions from tax.