Regulation 3 — Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development) (No. 2) Notification 2003

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.