Regulation 1
Citation
This Order is the Income Tax (Ocean Network Express Pte. Ltd. — Section 13(12) Exemption) Order 2026.
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Income Tax (Ocean Network Express Pte. Ltd. — Section 13(12) Exemption) Order 2026 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S298-2026 1947, currently marked in force and first recorded in 1947.
Citation
This Order is the Income Tax (Ocean Network Express Pte. Ltd. — Section 13(12) Exemption) Order 2026.
Exemption
The following income received in Singapore by Ocean Network Express Pte. Ltd. (a company incorporated in Singapore) from Poseidon Corp (formerly known as Poseidon Acquisition Corp) (a company incorporated in the Republic of the Marshall Islands) is exempt from tax:
dividend income of US$10,906,203 received on 5 July 2023;
dividend income received during the period from 30 March 2026 to 29 March 2036 (both dates inclusive).
The exemption in sub-paragraph (1) is subject to the conditions specified in the letter from the Ministry of Finance dated 30 March 2026 and addressed to PricewaterhouseCoopers Singapore Pte. Ltd.
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