Income Tax Act 1947 · 2020 Revised Edition · Part 11 · Rates of Tax
43O. Concessionary rate of tax for aircraft investment manager
Feedback & supportLast amended by an amending law of 2022. 5 amendments in all.
Despite section 43, the Minister may by regulations provide that tax at the rate of 10% is to be levied and paid for each year of assessment upon such income as the Minister may specify of an approved aircraft investment manager derived by it on or after 1 March 2007 from —
managing an approved aircraft leasing company; or
such other services or activities carried out for an approved aircraft leasing company as may be prescribed by regulations.
Regulations made under subsection (1) may provide for the deduction of losses otherwise than in accordance with section 37(3).
The Minister or an authorised body may, subject to such conditions as the Minister or authorised body may impose, approve an aircraft investment manager as an approved aircraft investment manager for the purposes of this section.
Approval may be granted under this section between 1 March 2007 and 31 December 2027 (both dates inclusive).
In this section —
“aircraft investment manager” means any company incorporated in Singapore;
company
“company” means any company incorporated or registered under any law in force in Singapore or elsewhere;
“aircraft leasing company” has the meaning given by section 43N;
“approved” means approved by the Minister or an authorised body.[43Z