Singapore legislation
Regulation 2
of Income Tax (Parkway Life Japan4 Pte. Ltd. — Section 13(12) Exemption) Order 2021
Regulation 2
Exemption
Subregulation 1
The specified income received in Singapore by Parkway Life Japan4 Pte. Ltd. (a company incorporated in Singapore) on or after 21 June 2021 is exempt from tax.
Subregulation 2
The exemption in sub‑paragraph (1) is subject to the conditions specified in the letter of approval dated 21 June 2021 addressed to Parkway Trust Management Limited.
Subregulation 3
In this paragraph —
Definition
“specified income” means the partnership profits distributed by the partnership between Parkway Life Japan4 Pte. Ltd. and Godo Kaisha Samurai 14 (an entity incorporated in Japan) that comprise either or both of the following:
rental income derived from the rental of the specified property;
capital gains derived from the divestment of the specified property;
Definition
“specified property” means the property named “Habitation Kamagaya” that is situated in Kamagaya City, Chiba Prefecture, Japan.