Regulation 1
Citation and commencement
This Notification is the Income Tax (Odfjell Asia II Pte Ltd — Section 13(4) Exemption) Notification 2024 and is deemed to have come into operation on 12 December 2018.
/akn/sg/act/sub_leg/1947/ITA-S662-2024
Income Tax (Odfjell Asia II Pte Ltd — Section 13(4) Exemption) Notification 2024
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 1947
- Sections
- 2
Quick answer
About this subsidiary legislation
Income Tax (Odfjell Asia II Pte Ltd — Section 13(4) Exemption) Notification 2024 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S662-2024 1947, currently marked in force and first recorded in 1947.
Regulation 2
Exemption
Subregulation 1
The interest payable by Odfjell Asia II Pte Ltd —
(a)
to the lenders mentioned in the first column of the following table;
(b)
in respect of the respective loan amounts mentioned in the second column of the table, being amounts that are used for the purpose of financing the acquisition of the respective vessels mentioned in the third column of the table;
(c)
under the respective agreements mentioned in the fourth column of the table; and
(d)
that is due and payable during the respective periods mentioned in the fifth column of the table,is exempt from tax:First columnSecond columnThird columnFourth columnFifth columnLender(s)Loan amount (US$)Vessel(s)AgreementPeriod (both dates inclusive)1.DNB Bank ASA2.Nordea Bank ABP, Filial I Norge3.Skandinaviska Enskilda Banken AB (Publ)4.Sparebank 1 SR‑Bank ASA5.Swedbank AB (Publ)113,933,2001.Bow Firda2.Bow Sea3.Bow Summer4.Bow SunLoan agreement dated 23 August 201923 August 2019 to 29 November 2020Nordea Bank ABP, Filial I Norge28,600,000Bow PioneerLoan agreement dated 13 December 201812 December 2018 to 15 November 2020Nordea Bank ABP, Filial I Norge25,500,000Bow StarLoan agreement dated 3 July 20203 July 2020 to 22 November 2020
Subregulation 2
The exemption in sub‑paragraph (1) is subject to the conditions specified in the letter from the Ministry of Finance dated 1 July 2024 and addressed to Odfjell Asia II Pte Ltd.
Common questions
- What is Income Tax (Odfjell Asia II Pte Ltd — Section 13(4) Exemption) Notification 2024?
- Income Tax (Odfjell Asia II Pte Ltd — Section 13(4) Exemption) Notification 2024 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S662-2024 1947, currently marked in force and first recorded in 1947.
- Is Income Tax (Odfjell Asia II Pte Ltd — Section 13(4) Exemption) Notification 2024 still in force?
- Yes — Income Tax (Odfjell Asia II Pte Ltd — Section 13(4) Exemption) Notification 2024 is currently in force.
- When did Income Tax (Odfjell Asia II Pte Ltd — Section 13(4) Exemption) Notification 2024 take effect?
- Income Tax (Odfjell Asia II Pte Ltd — Section 13(4) Exemption) Notification 2024 was first recorded in 1947.
- How many regulations does Income Tax (Odfjell Asia II Pte Ltd — Section 13(4) Exemption) Notification 2024 have?
- Income Tax (Odfjell Asia II Pte Ltd — Section 13(4) Exemption) Notification 2024 contains 2 regulations.
- Where can I read the official version of Income Tax (Odfjell Asia II Pte Ltd — Section 13(4) Exemption) Notification 2024?
- The official text of Income Tax (Odfjell Asia II Pte Ltd — Section 13(4) Exemption) Notification 2024 is published at sso.agc.gov.sg.