Singapore legislation
Regulation 2
of Income Tax (Exemption of Foreign Income) (No. 2) Order 2015
Regulation 2
Exemption
Subregulation 1
Rotary Engineering Limited is hereby granted exemption from tax on —
the dividends amounting to US$30 million received by it in Singapore in December 2014; (b)the dividends amounting to US$15 million to be received by it in Singapore by December 2015; (c)the dividends amounting to US$5 million received by it in Singapore in June 2016;
the dividends amounting to US$3 million received by it in Singapore in July 2016; and
the dividends amounting to US$7 million to be received by it in Singapore by December 2019,from Rotary Engineering Fujairah FTZ, a company incorporated in the United Arab Emirates.
Subregulation 2
The exemption under sub‑paragraph (1) is subject to the condition that the representations to the Ministry of Finance made by Rotary Engineering Limited —
on 7 July 2014, 14 November 2014 and 27 August 2015 through its tax agent, Deloitte & Touche LLP, as summarised in the letters of approval dated 24 October 2014, 9 December 2014 and 9 October 2015 addressed to Deloitte & Touche LLP; (b)on 24 June 2016 and 18 July 2016 through its tax agent, BDO Tax Advisory Pte Ltd, as summarised in the letter of approval dated 20 September 2016 addressed to BDO Tax Advisory Pte Ltd; and
on 29 May 2017 through its tax agent, BDO Tax Advisory Pte Ltd, as summarised in the letter of approval dated 23 August 2017 addressed to BDO Tax Advisory Pte Ltd,are accurate.