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Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 9) Notification 2014

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Type
Subsidiary Legislation
Status
In force
Enacted
1947
Sections
3

Quick answer

About this subsidiary legislation

Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 9) Notification 2014 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S772-2014 1947, currently marked in force and first recorded in 1947.

Regulation 1

Citation and commencement

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This Notification may be cited as the Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 9) Notification 2014.(2) Paragraph 2 shall be deemed to have come into operation on 31 May 2013.(3) Paragraph 3 shall be deemed to have come into operation on 9 July 2013.

Subregulation 1

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This Notification may be cited as the Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 9) Notification 2014.

Subregulation 2

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Paragraph 2 shall be deemed to have come into operation on 31 May 2013.

Subregulation 3

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Paragraph 3 shall be deemed to have come into operation on 9 July 2013.

Regulation 2

Exemption of payments made in relation to loan granted for purchase of JS Garonne

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Subregulation 1

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Subject to sub‑paragraph (2), there shall be exempt from tax the interest and commitment fees payable by Mortimer Pte. Ltd. to Banque Degroof Luxembourg S.A. between 31 May 2013 and 27 December 2013 (both dates inclusive) in respect of a loan granted under the Loan Agreement dated 22 May 2013 for the purpose of re‑financing an earlier loan obtained to fund the purchase of the vessel, “JS Garonne” by Greenship Bulk 4 Pte Ltd, an approved shipping investment enterprise under section 13S of the Act.

Subregulation 2

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The exemption under sub‑paragraph (1) is subject to the terms and conditions specified in the letter of approval dated 23 September 2014 issued by the Ministry of Finance and addressed to Mortimer Pte. Ltd.

Regulation 3

Exemption of payments made in relation to loan granted for purchase of JS Loire

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Subregulation 1

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Subject to sub‑paragraph (2), there shall be exempt from tax the interest and commitment fees payable by Mortimer Pte. Ltd. to Banque Degroof Luxembourg S.A. between 9 July 2013 and 27 December 2013 (both dates inclusive) in respect of a loan granted under the Loan Agreement dated 24 June 2013 for the purpose of re‑financing an earlier loan obtained to fund the purchase of the vessel, “JS Loire” by Greenship Bulk 5 Pte Ltd, an approved shipping investment enterprise under section 13S of the Act.

Subregulation 2

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The exemption under sub‑paragraph (1) is subject to the terms and conditions specified in the letter of approval dated 23 September 2014 issued by the Ministry of Finance and addressed to Mortimer Pte. Ltd.

Common questions

What is Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 9) Notification 2014?
Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 9) Notification 2014 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S772-2014 1947, currently marked in force and first recorded in 1947.
Is Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 9) Notification 2014 still in force?
Yes — Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 9) Notification 2014 is currently in force.
When did Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 9) Notification 2014 take effect?
Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 9) Notification 2014 was first recorded in 1947.
How many regulations does Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 9) Notification 2014 have?
Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 9) Notification 2014 contains 3 regulations.
Where can I read the official version of Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 9) Notification 2014?
The official text of Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 9) Notification 2014 is published at sso.agc.gov.sg.