Singapore legislation

Regulation 6

of Income Tax (Exemption of Certain Income of Prescribed Sovereign Fund Entities and Approved Foreign Government-Owned Entities) Regulations 2012

Regulation 6

Determination of amount of income exempted from tax

Amended byS 514/2013 wef Y/A 2013 & subsq Ys/A

In determining the amount of income of a prescribed sovereign fund entity or an approved foreign government-owned entity to be exempt from tax —

(a)

there shall be deducted from the income referred to in regulation 5 any expenses allowable under the Act which are attributable to that income, and any balance of the expenses shall be disregarded; and

(b)

there shall be deducted from the income referred to in regulation 5 any allowances under section 19, 19A, 20, 21 or 22 of the Act attributable to that income notwithstanding that no claim for those allowances has been made, and any balance of the allowances shall be disregarded.

Read in full context — Income Tax (Exemption of Certain Income of Prescribed Sovereign Fund Entities and Approved Foreign Government-Owned Entities) Regulations 2012 →