Singapore legislation
Regulation 5
Regulation 5
Exemption in relation to securities lending or repurchase arrangement
Subregulation 1
[Deleted by S 745/2020 wef 01/10/2015]
Subregulation 1A
Subject to sub-paragraph (2) and such conditions as may be imposed by the Minister, any loan rebate fee or price differential that a company with an approved Finance and Treasury Centre is liable to pay on or after 18 February 2005 in respect of any securities lending or repurchase arrangement is exempt from tax, if any funds obtained under the securities lending or repurchase arrangement are from —
any approved office or approved associated company outside Singapore;
any bank outside Singapore; or
any non-bank financial institution outside Singapore which is not its office or associated company.
Subregulation 2
The funds obtained under the securities lending or repurchase arrangement mentioned in sub‑paragraph (1A) are to be used (where the agreement or arrangement permits the funds to be so used) for the qualifying activities or qualifying services of the approved Finance and Treasury Centre.
Subregulation 3
Subject to such conditions as may be imposed by the Minister, any borrowing fee or compensatory payment that a company with an approved Finance and Treasury Centre is liable to pay to any person on or after 28 October 2003 under any securities lending or repurchase arrangement, is exempt from tax if that person —
is not a resident of Singapore; and
does not have a permanent establishment in Singapore through which the securities lending or repurchase arrangement is entered into.