Regulation 1
Citation
This Order may be cited as the Income Tax (Transfer of Undertaking by Bank or Finance Company) Order 2000.
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Income Tax (Transfer of Undertaking by Bank or Finance Company) Order 2000 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S115-2000 1947, currently marked in force and first recorded in 1947.
Citation
This Order may be cited as the Income Tax (Transfer of Undertaking by Bank or Finance Company) Order 2000.
Declaration of provisions in accounts
It is hereby declared that under section 14I(3) of the Act, the provisions in the account of PT Bank Ekspor Impor Indonesia (Persero), Singapore Branch which have been transferred to PT Bank Mandiri (Persero), Singapore Branch —
shall not be deemed under section 14I(2)(b) of the Act to be a trading receipt of PT Bank Ekspor Impor Indonesia (Persero), Singapore Branch; and
shall for the purposes of section 14I of the Act be treated as having been allowed to PT Bank Mandiri (Persero), Singapore Branch as a deduction under that section,subject to the conditions specified in the letter of approval dated 22nd February 2000.
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