Singapore legislation

Section 43B

of Income Tax Act 1947

Section 43B

Special rate of tax for non‑resident shipowner or charterer or air transport undertaking

Despite section 43, where the tax authority of a foreign country taxes the profits derived by a person resident in Singapore from carrying on the business of a shipowner or charterer or of air transport at a rate which exceeds the rate prescribed by section 43, the Minister may direct that the profits derived in Singapore from the carrying on of such business by a non‑resident person who is resident in that foreign country be charged to tax at a rate similar to that charged by the tax authority of that foreign country.

Read in full context — Income Tax Act 1947 →