Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (No. 6) Notification 1998

Status:

Published in Subsidiary Legislation Supplement
on 20 Mar 1998

No. S 111

Income Tax Act

(Chapter 134)

Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (No.6) Notification 1998

In exercise of the powers conferred by section 13(4) of the Income Tax Act, the Minister for Finance hereby makes the following Notification:

Citation

1. This Notification may be cited as the Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (No.6) Notification 1998.

Exemption

2. There shall be exempt from tax for a period of 5 years, with effect from 1st January 1997 —

(a)	the interest on any loan; and
(b)	the payment on interest rate and currency swap and on other similar transactions,

payable in currencies other than Singapore dollars by Bridgestone Finance Europe B.V., Singapore branch, to any of its approved offices or associated companies outside Singapore or to any bank outside Singapore, subject to the terms and conditions specified in the letter of approval dated 23rd January 1998 addressed to the company.

Made this 5th day of March 1998.

NGIAM TONG DOW

Permanent Secretary,
Ministry of Finance,
Singapore.

[MF(R)R32.16.059 Pt.2 Vol.4; AG/LEG/SL/134/97/1 Vol.1]

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