Singapore legislation
Regulation 2
of Income Tax (Trustee of Keppel DC REIT, etc. — Section 13(12) Exemption) Order 2023
Regulation 2
Exemption for trustee of Keppel DC REIT
Subregulation 1
Interest income described in sub‑paragraph (2), that is received in Singapore by Perpetual (Asia) Limited (a company incorporated in Singapore) in its capacity as the trustee of Keppel DC REIT (a real estate investment trust constituted in Singapore) from KDCR Netherlands 5 B.V. (a company incorporated in the Netherlands) on or after 25 October 2021, is exempt from tax.
Subregulation 2
Sub‑paragraph (1) applies to interest income from any of the following loans:
the loan granted under the agreement dated 23 December 2020 between Perpetual (Asia) Limited and KDCR Netherlands 5 B.V.;
the loan granted under the agreement dated 21 January 2021 between Perpetual (Asia) Limited and KDCR Netherlands 5 B.V.
Subregulation 3
The exemption in sub‑paragraph (1) is subject to the terms and conditions specified in the letter from the Ministry of Finance dated 25 October 2021 and addressed to EY Corporate Advisors Pte. Ltd.