Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 6) Notification 2018

This Notification is the Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 6) Notification 2018 and is deemed to have come into operation on 4 January 2017.

The interest payable by Grand Blue Shipping Pte Ltd —

to the lenders mentioned in the first column of the following table;

in respect of the respective loan amounts mentioned in the second column of the table used to finance the construction of the ship “Sunny Putney”; (c)under the respective novation agreements mentioned in the third column of the table; and

that is due and payable during the respective periods mentioned in the fourth column of the table,is exempt from tax:First columnSecond columnThird columnFourth columnLenderLoan amount in JPYNovation agreementPeriod (both dates inclusive)The Kagawa Bank, Ltd885,000,000Novation agreement dated 30 November 20164 January 2017 to 2 March 2020The Tokushima Bank, Ltd885,000,000Novation agreement dated 30 November 20164 January 2017 to 2 March 2020(2) The exemption under sub‑paragraph (1) is subject to the conditions specified in the letter of approval dated 11 April 2018 and addressed to Grand Blue Shipping Pte Ltd.

The interest payable by Grand Blue Shipping Pte Ltd —

to the lenders mentioned in the first column of the following table;

in respect of the respective loan amounts mentioned in the second column of the table used to finance the construction of the ship “Sunny Putney”; (c)under the respective novation agreements mentioned in the third column of the table; and

that is due and payable during the respective periods mentioned in the fourth column of the table,is exempt from tax:First columnSecond columnThird columnFourth columnLenderLoan amount in JPYNovation agreementPeriod (both dates inclusive)The Kagawa Bank, Ltd885,000,000Novation agreement dated 30 November 20164 January 2017 to 2 March 2020The Tokushima Bank, Ltd885,000,000Novation agreement dated 30 November 20164 January 2017 to 2 March 2020

The exemption under sub‑paragraph (1) is subject to the conditions specified in the letter of approval dated 11 April 2018 and addressed to Grand Blue Shipping Pte Ltd.