No. S 309
Income Tax Act 1947
Income Tax
(Finance Lease of Ship —
Section 13(4) Exemption)
(Amendment) Notification 2024
In exercise of the powers conferred by section 13(4) of the Income Tax Act 1947, the Minister for Finance makes the following Notification:
Citation and commencement
1.—(1)  This Notification is the Income Tax (Finance Lease of Ship — Section 13(4) Exemption) (Amendment) Notification 2024.
(2)  Paragraph 3 is deemed to have come into operation on 31 December 2021.
(3)  Paragraph 2 comes into operation on 12 April 2024.
Amendment of paragraph 2
2.  In the Income Tax (Finance Lease of Ship — Section 13(4) Exemption) Notification 2020 (G.N. No. S 789/2020), in paragraph 2, in the definition of “approved shipping investment enterprise”, in paragraph (b), replace “(or a person appointed by the Minister)” with “(or an authorised body)”.
Replacement of references relating to Acts because of 2020 Revised Edition
3.  In the Income Tax (Finance Lease of Ship — Section 13(4) Exemption) Notification 2020, replace the words specified in the first column of the following table with the words specified opposite them in the second column of the table:
First column
 
Second column
1.section 13F of the Act
 
section 13E of the Act
2.section 13F(6) of the Act
 
section 13E(6) of the Act
3.section 13S of the Act
 
section 13P of the Act
4.section 13S(20) of the Act
 
section 13P(20) of the Act
5.Merchant Shipping Act (Cap. 179)
 
Merchant Shipping Act 1995
6.Merchant Shipping Act
 
Merchant Shipping Act 1995
[G.N. No. S 157/2022]
Made on 28 March 2024.
LAI WEI LIN
Second Permanent Secretary,
Ministry of Finance,
Singapore.
[AG/LEGIS/SL/134/2020/12 Vol. 3]