Finance (Income Taxes) Bill · cl 5

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cl 5Amendment of section 13A

In the ITA, in section 13A —

(a)

delete subsection (1C);

(b)

after subsection (1D), insert —“(1E) This section does not apply to the following income of a shipping enterprise, being an international shipping enterprise approved under section 13E, derived in the basis period for the year of assessment 2027 or any subsequent year of assessment:

(a)

any income derived from the operation of Singapore ships under subsection (1);

(b)

any income described in subsections (1B), (1CA), (1CD), (1CE), (1CF), (1CG), (1CH), (1CI), (1CJ), (1CK) and (1CL).”;

(c)

in subsection (3)(b), delete “(1C),”; and

(d)

in subsection (16), delete the definition of “ship management services”.