Singapore legislation

Regulation 3

of Income Tax (Concessionary Rate of Tax or Exemption for Income Derived from Debt Securities) Regulations

Regulation 3

Concessionary rate of tax

Amended byS 214/2001 wef 10/04/2001S 239/2016 wef 01/01/2014S 267/2009 wef 01/01/2009S 349/2005 wef 01/01/2004S 349/2005 wef 03/12/2003S 214/2001 wef 10/04/2001S 868/2018 wef 27/12/2018S 195/2026 wef 31/12/2021S 195/2026 wef 01/01/2024S 239/2016 wef 01/01/2014S 267/2009 wef 01/01/2009S 98/2007 wef 17/02/2006S 868/2018 wef 27/12/2018S 195/2026 wef 01/01/2024S 195/2026 wef 31/12/2021S 239/2016 wef 01/01/2014S 267/2009 wef 01/01/2009S 51/2006 wef 01/01/2005S 868/2018 wef 27/12/2018S 195/2026 wef 31/12/2021S 195/2026 wef 01/01/2024S 239/2016 wef 01/01/2014S 267/2009 wef 01/01/2009S 398/2008 wef 15/02/2007S 868/2018 wef 27/12/2018S 195/2026 wef 31/12/2021S 195/2026 wef 15/02/2023S 195/2026 wef 01/01/2024S 349/2005 wef 03/12/2003S 349/2005 wef 03/12/2003

Tax shall be payable at the rate of 10% on —

(a)

any interest derived by a company on or after 28th February 1998 from any qualifying debt securities issued during the period from 28th February 1998 to 25th April 1999;

(aa)subject to section 43H(2) of the Act, regulation 7 and the conditions specified in the Income Tax (Qualifying Debt Securities) Regulations 2001 (G.N. No. S 212/2001), any interest derived by a company on or after 26 April 1999 from any qualifying debt securities issued during the period from 26 April 1999 to 31 December 2028 (both dates inclusive);

(ab)subject to section 43H(2) of the Act, regulation 7 and the conditions specified in the Income Tax (Qualifying Debt Securities) Regulations (Rg 35), any discount derived by a company from any qualifying debt securities which are —

(i)

[Deleted by S 195/2026 wef 01/01/2024](ii)issued during the period from 17 February 2006 to 31 December 2028 (both dates inclusive);

(ac)subject to section 43H(2) of the Act, regulation 7 and the conditions specified in the Income Tax (Qualifying Debt Securities) Regulations (Rg 35), any amount payable to any company from any Islamic debt securities which are qualifying debt securities, and issued during the period from 1 January 2005 to 31 December 2028 (both dates inclusive);

(ad)subject to section 43H(2) of the Act, regulation 7 and the conditions specified in the Income Tax (Qualifying Debt Securities) Regulations (Rg 35), any early redemption fee or redemption premium derived by a company on or after 15 February 2007 from any qualifying debt securities issued during the period from 15 February 2007 to 31 December 2028 (both dates inclusive);

(b)

any income derived by a financial institution from trading in any debt securities during the period from 28th February 1998 to 31st December 2003; and

(c)

any income derived by any financial institution during the period commencing from the first day of its basis period for the year of assessment 2001 to 31st December 2003 from —

(i)

providing services as an intermediary in connection with any transaction involving interest rate or currency swaps; and

(ii)

trading in interest rate or currency swaps.

Read in full context — Income Tax (Concessionary Rate of Tax or Exemption for Income Derived from Debt Securities) Regulations →