Regulation 1
Citation
This Order is the Income Tax (Ascott Residence Trust — Section 13(12) Exemption) Order 2020.
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Income Tax (Ascott Residence Trust — Section 13(12) Exemption) Order 2020 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S448-2020 1947, currently marked in force and first recorded in 1947.
Citation
This Order is the Income Tax (Ascott Residence Trust — Section 13(12) Exemption) Order 2020.
Exemption
Interest income received in Singapore by Ascendas Hospitality Japan 2 Pte Ltd (a company incorporated in Singapore) from the branch in Japan of Ascendas Hospitality Japan 3 Pte Ltd (a company incorporated in Singapore) on or after 20 February 2020 is exempt from tax.
Trust distribution income received in Singapore by Perpetual (Asia) Limited (a company incorporated in Singapore) in its capacity as the trustee of Ascendas Hospitality Real Estate Investment Trust (a unit trust established in Singapore) from Ascendas Hospitality Australia Investment Fund No. 1 (an entity incorporated in Australia) on or after 20 February 2020 is exempt from tax.
The exemptions in sub‑paragraphs (1) and (2) are subject to the conditions specified in the letter of approval dated 20 February 2020 addressed to KPMG Services Pte. Ltd.
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