Singapore legislation
Regulation 3
of Income Tax (Concessionary Rate of Tax for Approved Qualifying Companies) Regulations 2013
Regulation 3
Approved qualifying company
Subregulation 1
For the purposes of section 43I(1)(b) of the Act, the Minister or an authorised body may —
approve a qualifying company as an approved qualifying company for any income of the company specified in regulation 4 to be chargeable with tax at the rate of 5% or 10%; and
specify the prescribed qualifying structured commodity financing activities, prescribed treasury activities and prescribed advisory services in relation to mergers and acquisitions, for the approved qualifying company in relation to the approval.
Subregulation 1A
The approval mentioned in paragraph (1) is for a period not exceeding 5 years starting on a date specified by the Minister or authorised body.
Subregulation 2
The Minister or authorised body may, in any particular case, extend the period of approval specified in paragraph (1A) for such further periods, not exceeding 5 years at any one time, as the Minister or authorised body thinks fit.