Singapore legislation

Regulation 7

of Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (Consolidation) Notification

Regulation 7

Amended byS 249/98

Subregulation 1

There shall be exempt from tax the interest payable under the US$2 billion zero coupon notes issue by Asia Pulp & Paper Company Ltd to any noteholder who is —

(a)

an individual who is not resident in Singapore; or

(b)

a person, other than an individual, who is neither a resident of nor a permanent establishment in Singapore.

Subregulation 2

Amended byS 249/98

The exemption is subject to the terms and conditions specified in the Monetary Authority of Singapore’s letter of approval dated 8th November 1997 and the Annexes thereto.

Read in full context — Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (Consolidation) Notification →