Regulation 1
Citation
This Order is the Income Tax (TN Asia Pte. Ltd. — Section 13(12) Exemption) Order 2020.
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Income Tax (TN Asia Pte. Ltd. — Section 13(12) Exemption) Order 2020 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S792-2020 1947, currently marked in force and first recorded in 1947.
Citation
This Order is the Income Tax (TN Asia Pte. Ltd. — Section 13(12) Exemption) Order 2020.
Exemption
Income comprising dividends amounting to EURO 3,100,000 that is received in Singapore by TN Asia Pte. Ltd. (a company incorporated in Singapore) from TN Europe, B.V. (a company incorporated in the Netherlands) in the basis period for year of assessment 2019 is exempt from tax.
The exemption in sub‑paragraph (1) is subject to the terms and conditions specified in the letter of approval dated 11 August 2020 addressed to PricewaterhouseCoopers Singapore Pte. Ltd.
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