Singapore legislation

Regulation 2

of Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2018

Regulation 2

Exemption in relation to loan granted for purchase of Star Best

Subregulation 1

The interest payable by Grace Ocean Private Limited to The Hiroshima Bank, Ltd in respect of an outstanding loan amount of US$10,406,530.82 as at 18 January 2017 under a loan agreement dated 25 March 2011 (as amended by supplemental agreements dated 25 August 2015 and 18 January 2017), where the loan is for the purpose of financing the acquisition of the vessel “Star Best”, is exempt from tax.

Subregulation 2

The exemption under sub-paragraph (1) is subject to the terms and conditions specified in the letter of approval dated 29 March 2018 and addressed to Grace Ocean Private Limited.

Read in full context — Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2018 →