Singapore legislation
Regulation 2
of Income Tax (Tiger Holdco Pte. Ltd. — Section 13(4) Exemption) Notification 2023
Regulation 2
Exemption
Subregulation 1
The interest payable by Tiger Holdco Pte. Ltd. during the period from 18 March 2021 to 10 June 2023 (both dates inclusive) in respect of the amount of US$233 million under a bond agreement dated 17 March 2021, that is used for the purpose of on‑lending to Armada 98/2 Pte. Ltd. to finance the conversion and refurbishment of a large crude carrier vessel to a Singapore‑flagged Floating, Production, Storage and Offloading vessel named “Armada Sterling V”, is exempt from tax.
Subregulation 2
The exemption in sub-paragraph (1) is subject to the conditions specified in the letter from the Ministry of Finance dated 20 January 2023 and addressed to Deloitte Tax Solutions Pte. Ltd.