Singapore legislation

Regulation 2

of Income Tax (Exemption of Foreign Income) (No. 6) Order 2014

Regulation 2

Exemption

Subregulation 1

RCMA Group Pte Ltd is hereby granted exemption from tax on the following income:

(a)

all repayments received by RCMA Group Pte Ltd in Singapore of a loan extended to Wurfbain B.V. (a company incorporated in Netherlands) of a sum of US$14 million, being dividends declared by Wurfbain B.V. to RCMA Group Pte Ltd in August 2011; and

(b)

dividends received in Singapore on or after 29th May 2014 by RCMA Group Pte Ltd, which are declared by Wurfbain B.V. from its income derived from its business activities carried out in the Netherlands.

Subregulation 2

The exemption under sub-paragraph (1) is subject to the terms and conditions specified in the letter of approval dated 29th May 2014 addressed to RCMA Group Pte Ltd.

Read in full context — Income Tax (Exemption of Foreign Income) (No. 6) Order 2014 →