Singapore legislation

Regulation 5

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

Regulation 5

Amended byS 248/97

Subregulation 1

There shall be exempt from tax the interest payable under the US$500 million Asian Medium Term Note Programme by Nissho Iwai International (Singapore) Ltd 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 248/97

The exemption is subject to the terms and conditions specified in the Ministry of Finance’s letter of approval dated 24th February 1997 and the Annexes thereto.

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