Singapore legislation
Regulation 14
of Income Tax (Shipping Enterprises — Section 13(4) Exemption) Notification 2025
Regulation 14
General provisions applicable to exemptions under this Part
Subregulation 1
The exemption under paragraph 11, 12 or 13 does not apply to any payment or part of any payment liable to be made under a finance lease obtained before 24 February 2015, being a payment or part of a payment that is exempt from tax under any other exemption granted under the Act or any subsidiary legislation made under the Act.
Subregulation 2
The exemption under paragraph 11, 12 or 13 only applies to a qualifying payment liable to be made —
at any time on or after the date the shipping enterprise makes a declaration, in relation to the applicable finance lease, to the Authority in the form specified by the Authority for the purposes of this sub‑paragraph; or
if the declaration mentioned in sub‑paragraph (a) is made on or before the 15th day of a month — at any time on or after the first day of the previous month.