Singapore legislation
Regulation 2
of Income Tax (Concessionary Rate of Tax for Approved Trustee Companies) Regulations
Regulation 2
Definitions
In these Regulations —“approved trustee company” means a trustee company which is approved by the Minister or such person as he may appoint under section 43J of the Act;[Deleted by S 315/2012 wef 01/09/2007]“designated investments” has the same meaning as in the Income Tax (Exemption of Income of Prescribed Persons Arising from Funds Managed by Fund Manager in Singapore) Regulations 2010 (G.N. No. S 6/2010), with references to “prescribed person” therein modified to refer to “approved trustee company”;[Deleted by S 771/2017 wef 28/12/2017]“eligible holding company” has the same meaning as in regulation 2 of the Income Tax (Exemption of Income of Foreign Trusts) Regulations (Rg 24);“foreign account” has the same meaning as in section 13O of the Act;“foreign bond or loan stock issues” means any bond or loan stock issued by a person not resident in Singapore (but excluding its permanent establishment in Singapore) or by a permanent establishment outside Singapore of a person resident in Singapore in respect of any business carried on outside Singapore through that permanent establishment, where —
the bond or loan stock is denominated in currencies other than Singapore dollars;
the proceeds of the bond or loan stock issue are to be used outside Singapore; and
the expenses incurred in respect of the bond or loan stock issue are not borne, directly or indirectly, by a person resident in Singapore or a permanent establishment in Singapore;[Deleted by S 315/2012 wef 01/04/2011]“foreign business trust”, “foreign collective investment scheme”, “foreign debt securities”, “foreign equity securities” and “foreign mutual fund corporation” have the same meanings as in the Income Tax (Concessionary Rate of Tax for Financial Sector Incentive Companies) Regulations 2005 (G.N. No. S 735/2005);“mutual fund corporation” means a collective investment scheme or closed-end fund as defined in section 2 of the Securities and Futures Act (Cap. 289) that is constituted as a corporation;“philanthropic purpose trust” has the same meaning as in section 13O of the Act;“qualifying debt securities” has the same meaning as in section 13(16) of the Act;“relevant foreign trust” means a foreign trust as defined in regulation 2A of the Income Tax (Exemption of Income of Foreign Trusts) Regulations (Rg 24), other than a unit trust referred to in paragraph (1)(b) of that regulation;“unit trust” means any trust established for the purpose, or having the effect, of providing facilities for the participation by persons as beneficiaries under a trust, in profits or income arising from the acquisition, holding, management or disposal of securities or any other property.
Definition
“approved trustee company” means a trustee company which is approved by the Minister or such person as he may appoint under section 43J of the Act;
Definition
“designated investments” has the same meaning as in the Income Tax (Exemption of Income of Prescribed Persons Arising from Funds Managed by Fund Manager in Singapore) Regulations 2010 (G.N. No. S 6/2010), with references to “prescribed person” therein modified to refer to “approved trustee company”;
Definition
“eligible holding company” has the same meaning as in regulation 2 of the Income Tax (Exemption of Income of Foreign Trusts) Regulations (Rg 24);
Definition
“foreign account” has the same meaning as in section 13O of the Act;
Definition
“foreign bond or loan stock issues” means any bond or loan stock issued by a person not resident in Singapore (but excluding its permanent establishment in Singapore) or by a permanent establishment outside Singapore of a person resident in Singapore in respect of any business carried on outside Singapore through that permanent establishment, where —
the bond or loan stock is denominated in currencies other than Singapore dollars;
the proceeds of the bond or loan stock issue are to be used outside Singapore; and
the expenses incurred in respect of the bond or loan stock issue are not borne, directly or indirectly, by a person resident in Singapore or a permanent establishment in Singapore;
Definition
“foreign business trust”, “foreign collective investment scheme”, “foreign debt securities”, “foreign equity securities” and “foreign mutual fund corporation” have the same meanings as in the Income Tax (Concessionary Rate of Tax for Financial Sector Incentive Companies) Regulations 2005 (G.N. No. S 735/2005);
Definition
“mutual fund corporation” means a collective investment scheme or closed-end fund as defined in section 2 of the Securities and Futures Act (Cap. 289) that is constituted as a corporation;
Definition
“philanthropic purpose trust” has the same meaning as in section 13O of the Act;
Definition
“qualifying debt securities” has the same meaning as in section 13(16) of the Act;
Definition
“relevant foreign trust” means a foreign trust as defined in regulation 2A of the Income Tax (Exemption of Income of Foreign Trusts) Regulations (Rg 24), other than a unit trust referred to in paragraph (1)(b) of that regulation;
Definition
“unit trust” means any trust established for the purpose, or having the effect, of providing facilities for the participation by persons as beneficiaries under a trust, in profits or income arising from the acquisition, holding, management or disposal of securities or any other property.