Singapore legislation

Regulation 2

of Income Tax (Finance Lease of Container — Section 13(4) Exemption) Notification 2020

Regulation 2

Definitions

Amended byS 308/2024 wef 31/12/2021S 308/2024 wef 31/12/2021S 308/2024 wef 12/04/2024S 308/2024 wef 31/12/2021S 308/2024 wef 31/12/2021S 308/2024 wef 31/12/2021S 308/2024 wef 31/12/2021S 308/2024 wef 31/12/2021

In this Notification —“approved container investment enterprise” —

(a)

means an approved container investment enterprise mentioned in section 43P of the Act; and

(b)

includes a partnership approved by the Minister (or an authorised body) under section 43P of the Act as applied by section 36 of the Act;“approved international shipping enterprise” means an approved international shipping enterprise mentioned in section 13E of the Act;“container”, “container investment enterprise” and “intermodal equipment” have the meanings given by section 43P(7) of the Act;“finance lease”, in relation to any container or intermodal equipment, means a lease of the container or intermodal equipment (including any arrangement or agreement made in connection with the lease) that has the effect of transferring substantially the obsolescence, risks or rewards incidental to ownership of the container or intermodal equipment to the lessee;“international shipping enterprise” has the meaning given by section 13E(6) of the Act;“shipping enterprise” means any company that owns or operates one or more Singapore ships;“Singapore ship” —

(a)

means a ship in respect of which a certificate of registry has been issued under the Merchant Shipping Act 1995 and whose registry is not closed or deemed to be closed or suspended; and

(b)

includes a ship that is provisionally registered under the Merchant Shipping Act 1995.

Definition

“approved container investment enterprise” —

(a)

means an approved container investment enterprise mentioned in section 43P of the Act; and

(b)

includes a partnership approved by the Minister (or an authorised body) under section 43P of the Act as applied by section 36 of the Act;

Amended byS 308/2024 wef 31/12/2021S 308/2024 wef 31/12/2021S 308/2024 wef 12/04/2024

Definition

“approved international shipping enterprise” means an approved international shipping enterprise mentioned in section 13E of the Act;

Amended byS 308/2024 wef 31/12/2021

Definition

“container”, “container investment enterprise” and “intermodal equipment” have the meanings given by section 43P(7) of the Act;

Amended byS 308/2024 wef 31/12/2021

Definition

“finance lease”, in relation to any container or intermodal equipment, means a lease of the container or intermodal equipment (including any arrangement or agreement made in connection with the lease) that has the effect of transferring substantially the obsolescence, risks or rewards incidental to ownership of the container or intermodal equipment to the lessee;

Definition

“international shipping enterprise” has the meaning given by section 13E(6) of the Act;

Amended byS 308/2024 wef 31/12/2021

Definition

“shipping enterprise” means any company that owns or operates one or more Singapore ships;

Definition

“Singapore ship” —

(a)

means a ship in respect of which a certificate of registry has been issued under the Merchant Shipping Act 1995 and whose registry is not closed or deemed to be closed or suspended; and

(b)

includes a ship that is provisionally registered under the Merchant Shipping Act 1995.

Amended byS 308/2024 wef 31/12/2021S 308/2024 wef 31/12/2021