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Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2016

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Type
Subsidiary Legislation
Status
In force
Enacted
1947
Sections
2

Quick answer

About this subsidiary legislation

Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2016 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S441-2016 1947, currently marked in force and first recorded in 1947.

Regulation 1

Citation and commencement

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This Notification is the Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2016 and is deemed to have come into operation on 19 October 2015.

Regulation 2

Exemption

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Subregulation 1

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The payment of US$1,850,000 made by Wellard Ships Pte Ltd to Mr Tariq Mahmood Butt on 19 October 2015 in connection with a loan of US$18,000,000 to finance the purchase of the vessel “M/V Ocean Shearer” under an investment agreement dated 21 July 2015 is exempt from tax.

Subregulation 2

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The exemption under sub-paragraph (1) is subject to the conditions specified in the letter of approval dated 17 August 2016 issued by the Ministry of Finance and addressed to the Maritime Port Authority of Singapore and the Inland Revenue Authority of Singapore.

Common questions

What is Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2016?
Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2016 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S441-2016 1947, currently marked in force and first recorded in 1947.
Is Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2016 still in force?
Yes — Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2016 is currently in force.
When did Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2016 take effect?
Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2016 was first recorded in 1947.
How many regulations does Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2016 have?
Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2016 contains 2 regulations.
Where can I read the official version of Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2016?
The official text of Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2016 is published at sso.agc.gov.sg.