Section 43Q

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 container investment manager derived by it on or after 1 April 2008 from —

Regulations made under subsection (1) may provide for the deduction of losses otherwise than in accordance with section 37(3).

The Minister or a person appointed by the Minister may, subject to such conditions as the Minister or person may impose, approve a container investment manager as an approved container investment manager for the purposes of this section.

Approval of a container investment manager under this section may be granted between 1 April 2008 and 28 February 2011 (both dates inclusive).

Approval of a container investment manager under this section may be granted between 1 March 2011 and 31 December 2026 (both dates inclusive) for such period not exceeding 5 years as the Minister may specify, except that the Minister may extend the period so specified for such further periods as he thinks fit.

In this section —

“approved” means approved by the Minister or such person as the Minister may appoint;

“container investment enterprise” has the meaning given by section 43P;

“container investment manager” means any company incorporated in Singapore.[43ZB