Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill

Bill No. 2/2007

Read the first time on 22nd January 2007.

An Act to amend the Economic Expansion Incentives (Relief from Income Tax) Act (Chapter 86 of the 2005 Revised Edition).

Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows:

Short title and commencement

1.—(1) This Act may be cited as the Economic Expansion Incentives (Relief from Income Tax) (Amendment) Act 2007.

(2) Sections 2(c) and (d) and 3 shall be deemed to have come into operation on 9th September 2004.

Amendment of section 66

2. Section 66 of the Economic Expansion Incentives (Relief from Income Tax) Act is amended —

(a)	by deleting “43L,” in the definition of “concessionary income” in subsection (1);
(b)	by deleting the words “or 43S” in the definition of “concessionary income” in subsection (1) and substituting the words “, 43S, 43T, 43U, 43V, 43W or 43X”;
(c)	by inserting, immediately after the words “section 67(1)(h)” in paragraph (c) of the definition of “fixed capital expenditure” in subsection (1), the words “or (i)”; and
(d)	by inserting, immediately after the words “section 67(1)(h)” in subsection (2)(c), the words “or (i)”.

Amendment of section 67

3. Section 67 of the Economic Expansion Incentives (Relief from Income Tax) Act is amended —

(a)

by deleting the comma at the end of paragraph (h) of subsection (1) and substituting the word “; or”, and by inserting immediately thereafter the following paragraph:

“(i)	for the provision of maintenance, repair and overhaul services to any aircraft,”;

(b)

by inserting, immediately after the words “subsection (1)(h)” in subsection (3), the words “or (i)”; and

(c)

by inserting, immediately after subsection (5), the following subsection:

“(6) No approval under this section shall be granted to any company in respect of any project under subsection (1)(i) on or after 9th September 2009.”.

Search within Legislation