Income Tax (Exemption of Royalties and Other Payments for Economic and Technological Development) Notification 2016

Status:

Published in Subsidiary Legislation Supplement
on 18 Mar 2016

No. S 116

Income Tax Act

(CHAPTER 134)

Income Tax (Exemption of Royalties and
Other Payments for Economic and
Technological Development)
Notification 2016

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

Citation and commencement

1. This Notification is the Income Tax (Exemption of Royalties and Other Payments for Economic and Technological Development) Notification 2016 and is deemed to have come into operation on 1 July 2014.

Exemption

2.—(1) The royalties payable by ESS (a partnership formed under the laws of the State of Delaware, USA), during the period specified in sub‑paragraph (2) under an agreement specified in the letter dated 16 September 2015 addressed to ESS and Fox International Channels Singapore Pte. Ltd. (called in this paragraph the 16 September 2015 letter), are exempt from tax.

(2) The period for the purpose of sub‑paragraph (1) commences on 1 July 2014 and ends on the earlier of the following dates:

(a)	31 December 2015;
(b)	the date of termination of the agreement.

(3) The exemption in sub‑paragraph (1) is subject to the terms and conditions specified in the 16 September 2015 letter.

Made on 15 March 2016.

LIM SOO HOON

Permanent Secretary
(Finance) (Performance),
Ministry of Finance,
Singapore.

[MF(R) 32.018.2608 Vol. 38; AG/LLRD/SL/134/2010/63 Vol. 1]

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