Income Tax (Concessionary Rate of Tax on Dividends — Aircraft Leasing Company) (Amendment) Order 2024

Status:

Published in Subsidiary Legislation Supplement
on 12 Apr 2024

No. S 303

Income Tax Act 1947

Income Tax
(Concessionary Rate of Tax on
Dividends — Aircraft Leasing Company)
(Amendment) Order 2024

In exercise of the powers conferred by section 13(12) of the Income Tax Act 1947, the Minister for Finance makes the following Order:

Citation and commencement

1.—(1) This Order is the Income Tax (Concessionary Rate of Tax on Dividends — Aircraft Leasing Company) (Amendment) Order 2024.

(2) Paragraphs 2(a) and (c) and 4 are deemed to have come into operation on 31 December 2021.

(3) Paragraphs 2(b) and 3 come into operation on 12 April 2024.

Amendment of paragraph 2

2. In the Income Tax (Concessionary Rate of Tax on Dividends — Aircraft Leasing Company) Order 2020 (G.N. No. S 673/2020) (called in this Order the principal Order), in paragraph 2 —

(a)	in the definition of “approved aircraft leasing company” or “AALC”, replace “section 43Y” wherever it appears with “section 43N”;
(b)	in the definition of “approved aircraft leasing company” or “AALC”, replace “a person appointed by the Minister” with “an authorised body”; and
(c)	in the definition of “leasing of aircraft or aircraft engine”, replace “section 10D(1)” with “section 10C(1)”.

Amendment of paragraph 3

3. In the principal Order, in paragraph 3 —

(a)	in sub‑paragraph (1), replace “a person appointed by the Minister” with “an authorised body”; and
(b)	in sub‑paragraphs (2) and (3), replace “appointed person” wherever it appears with “authorised body”.

Amendment of paragraph 4

4. In the principal Order, in paragraph 4(1) —

(a)	replace “section 43Y(1)” with “section 43N(1)”; and
(b)	replace “section 43Y” with “section 43N”.

Made on 28 March 2024.

LAI WEI LIN

Second Permanent Secretary,
Ministry of Finance,
Singapore.

[AG/LEGIS/SL/134/2020/53 Vol. 1]

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