Singapore legislation
Regulation 2
of Income Tax (Exemption of Income of Foreign Account of Philanthropic Purpose Trust) Regulations 2007
Regulation 2
Definitions
Subregulation 1
In these Regulations —
Definition
“designated investments” has the same meaning as in the Income Tax (Exemption of Income of Prescribed Persons Arising from Funds Managed by Fund Manager in Singapore) Regulations 2010 (G.N. No. S 6/2010), with references to “prescribed person” therein modified to refer to “trustee company” or “eligible holding company” referred to in regulation 4(1), as the case may be;
Definition
“specified income” has the same meaning as in the Income Tax (Exemption of Income of Foreign Trusts) Regulations (Rg 24).
Subregulation 2
For the purposes of these Regulations, a philanthropic purpose trust is administered by a trustee company if the trustee company —
provides services as a trustee of the philanthropic purpose trust, including services provided as a manager or an administrator of an eligible holding company established for the purposes of the philanthropic purpose trust; or
provides services to a trustee of the philanthropic purpose trust under a contract for services with that trustee, such services being either or both of the following:
the establishment of the philanthropic purpose trust, or an eligible holding company for the purposes of the philanthropic purpose trust;
the management or administration of the philanthropic purpose trust or an eligible holding company established for the purposes of the philanthropic purpose trust.