Regulation 1
Citation
This Order is the Income Tax (Sasseur Bishan HK Limited — Section 13(12) Exemption) (No. 2) Order 2024.
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Income Tax (Sasseur Bishan HK Limited — Section 13(12) Exemption) (No. 2) Order 2024 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S389-2024 1947, currently marked in force and first recorded in 1947.
Citation
This Order is the Income Tax (Sasseur Bishan HK Limited — Section 13(12) Exemption) (No. 2) Order 2024.
Exemption
Interest income described in sub‑paragraph (2), that is received in Singapore by Sasseur Bishan HK Limited (a company incorporated in Hong Kong Special Administrative Region of the People’s Republic of China) from Chongqing Sasseur Suge Apparel Joint Stock Co., Ltd. (a company incorporated in the People’s Republic of China) on or after 1 March 2024, is exempt from tax.
Sub‑paragraph (1) applies to interest income from the loan granted under the agreements dated 20 March 2018, 15 September 2018 and 5 July 2020 between Sasseur Bishan HK Limited and Chongqing Sasseur Suge Apparel Joint Stock Co., Ltd.
The exemption in sub‑paragraph (1) is subject to the conditions specified in the letter from the Ministry of Finance dated 24 April 2024 and addressed to EY Corporate Advisors Pte. Ltd.
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