Regulation 1
Citation and commencement
This Notification is the Income Tax (Total Engine Asset Management Pte. Ltd. — Section 13(4) Exemption) Notification 2021 and is deemed to have come into operation on 26 July 2019.
/akn/sg/act/sub_leg/1947/ITA-S678-2021
Income Tax (Total Engine Asset Management Pte. Ltd. — Section 13(4) Exemption) Notification 2021
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 1947
- Sections
- 2
Quick answer
About this subsidiary legislation
Income Tax (Total Engine Asset Management Pte. Ltd. — Section 13(4) Exemption) Notification 2021 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S678-2021 1947, currently marked in force and first recorded in 1947.
Regulation 2
Exemption
Subregulation 1
The interest and legal fee payable by Total Engine Asset Management Pte. Ltd. —
(a)
to the respective 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 that are or are to be used to finance the acquisition of the respective aircraft engines mentioned in the third column of the table;
(c)
under the respective agreements mentioned in the fourth column of the table; and
(d)
that are due and payable during the respective periods mentioned in the fifth column of the table,are exempt from tax:First columnSecond columnThird columnFourth columnFifth columnLenderLoan amount (US$)Aircraft enginesAgreementPeriod (both dates inclusive)Lemon Gas Co., Ltd.16,050,000“SN 598977”Loan agreement dated 24 July 201926 July 2019 to 24 June 2020Chishima Real Estate Co., Ltd.16,050,000“SN 599218”Loan agreement dated 27 September 201930 September 2019 to 28 August 2020
Subregulation 2
The exemption under sub‑paragraph (1) is subject to the conditions specified in the letter of approval dated 21 September 2020 issued by the Ministry of Finance and addressed to Total Engine Asset Management Pte. Ltd.
Common questions
- What is Income Tax (Total Engine Asset Management Pte. Ltd. — Section 13(4) Exemption) Notification 2021?
- Income Tax (Total Engine Asset Management Pte. Ltd. — Section 13(4) Exemption) Notification 2021 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S678-2021 1947, currently marked in force and first recorded in 1947.
- Is Income Tax (Total Engine Asset Management Pte. Ltd. — Section 13(4) Exemption) Notification 2021 still in force?
- Yes — Income Tax (Total Engine Asset Management Pte. Ltd. — Section 13(4) Exemption) Notification 2021 is currently in force.
- When did Income Tax (Total Engine Asset Management Pte. Ltd. — Section 13(4) Exemption) Notification 2021 take effect?
- Income Tax (Total Engine Asset Management Pte. Ltd. — Section 13(4) Exemption) Notification 2021 was first recorded in 1947.
- How many regulations does Income Tax (Total Engine Asset Management Pte. Ltd. — Section 13(4) Exemption) Notification 2021 have?
- Income Tax (Total Engine Asset Management Pte. Ltd. — Section 13(4) Exemption) Notification 2021 contains 2 regulations.
- Where can I read the official version of Income Tax (Total Engine Asset Management Pte. Ltd. — Section 13(4) Exemption) Notification 2021?
- The official text of Income Tax (Total Engine Asset Management Pte. Ltd. — Section 13(4) Exemption) Notification 2021 is published at sso.agc.gov.sg.