Singapore legislation

Regulation 3

of Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development) (No. 2) Notification 2003

Regulation 3

Exemption in relation to loans

Amended byS 745/2020 wef 18/02/2005S 745/2020 wef 01/10/2015

Subregulation 1

[Deleted by S 745/2020 wef 01/10/2015]

Subregulation 1A

Amended byS 745/2020 wef 18/02/2005

Subject to sub-paragraph (2) and such conditions as may be imposed by the Minister, the interest that a company with an approved Finance and Treasury Centre is liable to pay on or after 18 February 2005 on any loan, is exempt from tax if the loan is from —

(a)

any approved office or approved associated company outside Singapore;

(b)

any bank outside Singapore; or

(c)

any non-bank financial institution outside Singapore which is not its office or associated company.

Subregulation 2

Amended byS 745/2020 wef 01/10/2015

The funds obtained from any loan mentioned in sub‑paragraph (1A) are to be used for the qualifying activities or qualifying services of the approved Finance and Treasury Centre.

Read in full context — Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development) (No. 2) Notification 2003 →