Singapore legislation

Regulation 3

of Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development) (No. 3) Notification 2006

Regulation 3

Exemption

Amended byS 800/2018 wef 10/12/2018

Subregulation 1

This paragraph applies to any payment —

(a)

made by a financial sector incentive (derivatives market) company to a person who is not resident in Singapore;

(b)

that is not derived through any operation carried on by the person through the person’s permanent establishment in Singapore; and

(c)

that is liable to be made under a contract for over-the-counter financial derivatives, where —

(i)

the contract takes effect on a date on or before 31 December 2018; or

(ii)

the contract is extended or renewed, and the extension or renewal of the contract takes effect on a date on or before 31 December 2018.

Subregulation 2

Any payment mentioned in sub-paragraph (1) is exempt from tax, subject to —

(a)

such conditions as may be imposed by the Minister; and

(b)

the giving by the financial sector incentive (derivatives market) company of such declaration (in relation to transactions with related parties) as may be required by the Comptroller or the Monetary Authority of Singapore for the purpose of this Notification.

Read in full context — Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development) (No. 3) Notification 2006 →