No. S 628
| Income Tax Act |
(Chapter 134)
| Income Tax (Exemption of Income of Approved Companies from Funds Managed by Fund Manager) Regulations 2007 |
|
| Citation and commencement |
| 1. These Regulations may be cited as the Income Tax (Exemption of Income of Approved Companies from Funds Managed by Fund Manager) Regulations 2007 and shall be deemed to have come into operation on 17th February 2006. |
| Definitions |
| 2. In these Regulations, “designated investments” and “specified income” have the same meanings as in the Income Tax (Income from Funds Managed for Foreign Investors) Regulations 2003 (G.N. No. S 640/2003). |
| Exemption |
| 3. Subject to regulation 4, there shall be exempt from tax the specified income derived by an approved company in respect of designated investments. |
| No deduction in respect of loss arising from designated investments |
4. Notwithstanding anything in these Regulations, no deduction shall be allowed under the Act to any approved company in respect of any loss arising from —
|
| Annual declaration |
| 5. An approved company shall submit an annual declaration to the Comptroller and the Monetary Authority of Singapore, in such form and within such time as the Comptroller or the Monetary Authority of Singapore may specify, that it has met, for each basis period, the conditions subject to which the Minister or such person as he may appoint approved the company under section 13R(1) of the Act. |
Made this 19th day of November 2007.
Permanent Secretary, Ministry of Finance, Singapore. |
| [MF(R)R32.19.4 Vol. 29; AG/LEG/SL/134/2005/29 Vol. 1] |