Income Tax (Exemption of Foreign Income) (No. 2) Order 2017

Status:

Published in Subsidiary Legislation Supplement
on 22 Mar 2017

No. S 107

Income Tax Act

(CHAPTER 134)

Income Tax
(Exemption of Foreign Income)
(No. 2) Order 2017

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

Citation

1. This Order is the Income Tax (Exemption of Foreign Income) (No. 2) Order 2017.

Exemption

2.—(1) The dividends described in sub‑paragraph (2) received in Singapore by 3M Singapore Pte Ltd (a company incorporated in Singapore) on or after 28 February 2017 from 3M International Investment BV (a company incorporated in the Netherlands), are exempt from tax.

(2) Sub‑paragraph (1) applies to dividends derived from dividends received by 3M International Investment BV from 3M Inovasyon Uranleri Sanayi ve Ticaret Limited (a company incorporated in Turkey).

(3) The exemption in sub‑paragraph (1) is subject to the conditions specified in paragraphs 8 and 9(a) of the letter of approval dated 28 February 2017 addressed to 3M Singapore Pte Ltd.

Made on 21 March 2017.

TAN CHING YEE

Permanent Secretary,
Ministry of Finance,
Singapore.

[R032.016.0056.V74; AG/LEGIS/SL/134/2015/8 Vol. 2]

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