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Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2022 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S151-2022 1947, currently marked in force and first recorded in 1947.
Citation and commencement
This Notification is the Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2022 and is deemed to have come into operation on 8 April 2012.
Exemption
The interest of JPY214,069,590 payable by United Sky Shipping Pte. Ltd. to Galva Kogyo Co., Ltd from 8 April 2012 to 8 February 2025 (both dates inclusive), in respect of a loan granted under a loan agreement dated 10 February 2010 to finance the acquisition of a Singapore‑flagged vessel “Chemical Mariner” is exempt from tax.
The exemption under sub‑paragraph (1) is subject to the terms and conditions specified in the letter of approval dated 3 February 2022 issued by the Ministry of Finance and addressed to United Sky Shipping Pte. Ltd.
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