Singapore legislation

Regulation 3

of Income Tax (Concessionary Rate of Tax for Foreign Income of Approved Container Investment Enterprise) Order 2017

Regulation 3

Approval

Subregulation 1

The Minister or such other person as the Minister may appoint may approve a company or partnership of an ACIE for the purposes of this Order.

Subregulation 2

The Minister or appointed person may only approve a company or partnership if the Minister or appointed person is satisfied that —

(a)

the company or partnership is incorporated, registered or formed outside Singapore;

(b)

the company or partnership carries on a business relating to the leasing, for the international transportation of goods, of one or more containers owned by it, or intends to carry on such business;

(c)

the company or partnership carries on that business, or intends to carry on that business, from a place outside Singapore;

(d)

the company or partnership intends to pay dividends or partnership profits derived from such business to the ACIE, and these payments will promote or enhance the economic development of Singapore; and

(e)

the containers which the company or partnership owns or which it intends to acquire for that business are controlled and managed, or will be controlled and managed, by the ACIE.

Read in full context — Income Tax (Concessionary Rate of Tax for Foreign Income of Approved Container Investment Enterprise) Order 2017 →