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Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2013

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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) (No. 2) Notification 2013 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S313-2013 1947, currently marked in force and first recorded in 1947.

Regulation 1

Citation and commencement

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This Notification may be cited as the Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2013 and shall be deemed to have come into operation on 22nd January 2013.

Regulation 2

Exemption

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Subregulation 1

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There shall be exempt from tax, the interest payable by Kambara Kisen Singapore Pte Ltd to Chijin Shipping S.A. on a loan granted under the Loan Agreement dated 21st November 2012, for partially financing the purchase of the vessel “Triple Ever” (referred to in this Notification as “the vessel”).

Subregulation 2

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The exemption under sub-paragraph (1) —

(a)

is subject to the terms and conditions specified in the letter of approval dated 5th March 2013 issued by the Ministry of Finance and addressed to Kambara Kisen Singapore Pte Ltd; and

(b)

shall not apply to any interest payable after the earliest of the following:

(i)

20th November 2013;

(ii)

the date of termination of the Loan Agreement; or

(iii)

the date on which the vessel is transferred or disposed of by Kambara Kisen Singapore Pte Ltd.

Common questions

What is Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2013?
Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2013 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S313-2013 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) (No. 2) Notification 2013 still in force?
Yes — Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2013 is currently in force.
When did Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2013 take effect?
Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2013 was first recorded in 1947.
How many regulations does Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2013 have?
Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2013 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) (No. 2) Notification 2013?
The official text of Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 2) Notification 2013 is published at sso.agc.gov.sg.