Regulation 1
Citation
This Order is the Income Tax (Olam Group Limited — Section 13(12) Exemption) Order 2024.
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Income Tax (Olam Group Limited — Section 13(12) Exemption) Order 2024 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S218-2024 1947, currently marked in force and first recorded in 1947.
Citation
This Order is the Income Tax (Olam Group Limited — Section 13(12) Exemption) Order 2024.
Exemption
Dividend income received in Singapore by Olam Group Limited (a company incorporated in Singapore) after 3 January 2024 from Olam Food Ingredients Group Limited (a company incorporated in the United Kingdom), which is in turn derived from the following income of Olam International Limited (a company incorporated in Singapore), is exempt from tax:
income from Olam International Limited’s business in Singapore;
foreign dividends received by Olam International Limited.
The exemption in sub-paragraph (1) is subject to the conditions specified in the letter from the Ministry of Finance dated 3 January 2024 and addressed to Ernst & Young Solutions LLP.
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