in subsections (1)(b)(i) and (ii), (2C)(a) and (b) and (2D)(a) and (b), delete “31 December 2022” and substitute “31 December 2025”;
(b)
in subsection (1)(r), (ra) and (rb), delete “31 March 2022” and substitute “31 March 2023”;
(c)
in subsection (1)(zj)(ii)(B), delete “and, if such contract is renewed or extended, the period for which the contract is renewed or extended commences before 1 January 2027; or” and substitute —
“and —
“(BA)
if such contract is renewed or extended, the period for which the contract is renewed or extended commences before 1 January 2027; or
(BB)
if such contract is varied, the effective date of the variation is before 1 January 2027; or”;
(d)
in subsection (1)(zj)(iii)(B), delete “and, if such contract is renewed or extended, the period for which the contract is renewed or extended commences before 1 January 2027;” and substitute —
“and —
“(BA)
if such contract is renewed or extended, the period for which the contract is renewed or extended commences before 1 January 2027; or
(BB)
if such contract is varied, the effective date of the variation is before 1 January 2027;”;
(e)
in subsection (2D), delete paragraphs (e), (f) and (g) and substitute —
“(e)
each person holding the securities is either —
(i)
a company resident in Singapore; or
(ii)
a trustee of a real estate investment trust (REIT), being a trustee that is resident in Singapore and that holds the securities for the benefit of the unitholders of the REIT;
(f)
the company or REIT is listed on the Singapore Exchange either on the date of issue of the securities or within 6 months from that date; and
(g)
the income from the securities received by the company or trustee is declared to be distributable to the shareholders of the company or unitholders of the REIT (as the case may be) within 6 months from the end of the basis period in which it is received.”;
(f)
delete subsection (12A) and substitute —
“(12A) Every order made under subsection (12) still in force on 1 January 2026, that exempts from tax any of the following, applies on or after that date (and despite anything in the order) only to income described in subsection (12B):
(a)
any income received in Singapore by the trustee of a real estate investment trust;
(b)
any income received in Singapore by the trustee of a sub‑trust of a real estate investment trust where all rights or interests in the property of the sub‑trust are held for the benefit of the beneficiaries of the real estate investment trust;
(c)
any income received in Singapore by a company incorporated in Singapore the share capital of which is 100% owned (whether directly or indirectly) by the trustee of a real estate investment trust.”;
(g)
in subsection (12B)(b), delete “beneficially”; and
(h)
in subsection (16), in the definition of “qualifying project debt securities”, in paragraph (a)(ii) and (iii), delete “31 December 2022” and substitute “31 December 2025”.
(2) Subsection (1)(e) is deemed to have effect for the year of assessment 2022 and every subsequent year of assessment and, for the purposes of the year of assessment 2022, the approval under section 13(2D) of the principal Act may be granted at any time on or after the date of publication of this Act.
