Regulation 1
Citation and commencement
This Notification is the Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2018 and is deemed to have come into operation on 1 January 2017.
/akn/sg/act/sub_leg/1947/ITA-S108-2018
Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2018
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 1947
- Sections
- 2
Quick answer
About this subsidiary legislation
Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2018 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S108-2018 1947, currently marked in force and first recorded in 1947.
Regulation 2
Exemption
Subregulation 1
The total interest of US$519,389 payable by Iolair Offshore Pte Ltd to Magellan Marine Limited in January 2017 in respect of a loan of US$65,000,000 made for the purpose of financing the purchase of the vessel “Iolair”, and under an agreement first entered into on 16 November 2016 with Exeter Marine Limited, and novated to Magellan Marine Limited on 5 December 2016, is exempt from tax.
Subregulation 2
The exemption under sub‑paragraph (1) is subject to the following conditions:
(a)
that the information furnished and representations made by Iolair Offshore Pte Ltd to the Minister are accurate;
(b)
that Iolair Offshore Pte Ltd has not withheld from the Minister any information which it knows or ought reasonably to know would affect the decision of the Minister to grant the exemption in sub‑paragraph (1).
Common questions
- What is Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2018?
- Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2018 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S108-2018 1947, currently marked in force and first recorded in 1947.
- Is Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2018 still in force?
- Yes — Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2018 is currently in force.
- When did Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2018 take effect?
- Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2018 was first recorded in 1947.
- How many regulations does Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2018 have?
- Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2018 contains 2 regulations.
- Where can I read the official version of Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2018?
- The official text of Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2018 is published at sso.agc.gov.sg.