Singapore legislation
Regulation 5
of Income Tax (Exemption of Foreign Income of Approved Shipping Investment Enterprise) Order 2017
Regulation 5
Exemption from tax of income relating to chartering and finance leasing of ship derived on or after 25 March 2016
Subregulation 1
The income described in sub‑paragraph (2) of an ASIE that is received in Singapore during the period of the ASIE’s approval is exempt from tax.
Subregulation 2
The income to which sub‑paragraph (1) applies is —
dividends from an approved company of the ASIE; or
partnership profits of an approved partnership of an ASIE,that are paid out of income derived by the company or partnership on or after 25 March 2016 and during the period of the approval of the company or partnership, from the chartering or finance leasing, for use outside the limits of the port of Singapore, of an applicable sea‑going ship of the approved company or approved partnership during the qualifying period of the ship, to any person.
Subregulation 3
Sub‑paragraphs (3) and (4) of paragraph 4 apply to this paragraph as they apply to paragraph 4, as if the reference to the income of an ASIE in paragraph 4(2) were a reference to the income of an ASIE in sub‑paragraph (2).