Singapore legislation
Regulation 2
of Income Tax (IB Offshore Pte. Limited — Section 13(4) Exemption) Notification 2022
Regulation 2
Exemption
Subregulation 1
The interest and commitment fee paid by IB Offshore Pte. Limited —
to The Export‑Import Bank of China;
in respect of the loan amount of US$892,471,344 used for the purpose of financing the acquisition of the vessels specified in the Schedule;
under the loan agreement between IB Offshore Pte. Limited and The Export‑Import Bank of China dated 28 November 2013; and
that is paid during the period from 3 December 2013 to 21 October 2019 (both dates inclusive),is exempt from tax.
Subregulation 2
The exemption in sub‑paragraph (1) is subject to the conditions specified in the letter from the Ministry of Finance dated 23 August 2022 addressed to KPMG Services Pte. Ltd.