Singapore legislation

Regulation 1

of Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (Consolidation) Notification

Regulation 1

Amended byS 29/97

There shall be exempt from tax the interest payable under the US$500 million Asian Medium Term Note Programme by Norddeutsche Landesbank Girozentrale to any noteholder who is —

(a)

an individual who is not resident in Singapore; or

(b)

a person, other than an individual, who is neither a resident of nor a permanent establishment in Singapore.(2) The exemption is subject to the terms and conditions specified in the Ministry of Finance’s letter of approval dated 25th November 1996 and the Annexes thereto.

Subregulation 1

There shall be exempt from tax the interest payable under the US$500 million Asian Medium Term Note Programme by Norddeutsche Landesbank Girozentrale to any noteholder who is —

(a)

an individual who is not resident in Singapore; or

(b)

a person, other than an individual, who is neither a resident of nor a permanent establishment in Singapore.

Subregulation 2

Amended byS 29/97

The exemption is subject to the terms and conditions specified in the Ministry of Finance’s letter of approval dated 25th November 1996 and the Annexes thereto.

Read in full context — Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (Consolidation) Notification →