Regulation 1
Citation
This Notification is the Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2016.
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Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2016 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S5-2016 1947, currently marked in force and first recorded in 1947.
Citation
This Notification is the Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 2016.
Exemption
The interest payable by Loreto Maritime Pte Ltd to —
CITIC Pacific Limited (now known as CITIC Limited) from 10 February 2014 to 9 September 2014 (both dates inclusive); and
CITIC Mining International Ltd from 10 September 2014 to 31 October 2014 (both dates inclusive),in respect of a loan of US$198,725 obtained under a loan agreement dated 3 May 2012 for the partial financing of the construction of “Magdragon II” (a vessel registered as a Singapore ship under the Merchant Shipping Act (Cap. 179)), is exempt from tax.
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