Regulation 1
Citation
This Notification may be cited as the Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 3) Notification 2005.
/akn/sg/act/sub_leg/1947/ITA-S145-2005
Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 3) Notification 2005
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 1947
- Sections
- 3
Quick answer
About this subsidiary legislation
Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 3) Notification 2005 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S145-2005 1947, currently marked in force and first recorded in 1947.
Regulation 2
Exemption
Subregulation 1
Subject to sub-paragraph (2), there shall be exempt from tax the following payments made by Dong Ya Tankers Pte. Ltd., Nan Guang Maritime Pte. Ltd. and Da Xin Tankers Pte. Ltd.: (a)interest payments to Deutsche Schiffsbank AG during the period 30th December 2004 to 30th January 2009 (both dates inclusive); and
(b)
the legal fees and other payments payable,under the Loan Agreement dated 30th December 2004 in respect of a US$33 million loan for the purpose of financing the construction of 6 ships.
Subregulation 2
The exemption under sub-paragraph (1) is subject to the condition that Dong Ya Tankers Pte. Ltd., Nan Guang Maritime Pte. Ltd. and Da Xin Tankers Pte. Ltd. have registered the 6 ships with the Singapore Registry of Ships by —
(a)
31st March 2008; or
(b)
such later date as the Minister may, on the application of Dong Ya Tankers Pte. Ltd., Nan Guang Maritime Pte. Ltd. or Da Xin Tankers Pte. Ltd., allow.
Regulation 3
Withdrawal of exemption
The Minister may, without notice, withdraw the exemption granted under paragraph 2 if any of the 6 ships were found not to be registered with the Singapore Registry of Ships within the time allowed under that paragraph.
Common questions
- What is Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 3) Notification 2005?
- Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 3) Notification 2005 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S145-2005 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. 3) Notification 2005 still in force?
- Yes — Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 3) Notification 2005 is currently in force.
- When did Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 3) Notification 2005 take effect?
- Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 3) Notification 2005 was first recorded in 1947.
- How many regulations does Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 3) Notification 2005 have?
- Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 3) Notification 2005 contains 3 regulations.
- Where can I read the official version of Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 3) Notification 2005?
- The official text of Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 3) Notification 2005 is published at sso.agc.gov.sg.