Income Tax (Exemption of Foreign Income) (Amendment) Order 2018

Status:

Published in Subsidiary Legislation Supplement
on 08 Mar 2018

No. S 129

Income Tax Act

(CHAPTER 134)

Income Tax
(Exemption of Foreign Income)
(Amendment) Order 2018

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

Citation and commencement

1.—(1) This Order is the Income Tax (Exemption of Foreign Income) (Amendment) Order 2018.

(2) Paragraph 2(a) is deemed to have come into operation on 19 December 2002.

(3) Paragraph 2(b) is deemed to have come into operation on 24 February 2015.

(4) Paragraph 2(c) comes into operation on 8 March 2018.

Amendment of paragraph 2

2. Paragraph 2 of the Income Tax (Exemption of Foreign Income) (No. 3) Order 2002 (G.N. No. S 646/2002) is amended —

(a)

by inserting, immediately after sub‑paragraph (1), the following sub‑paragraph:

“(1A) Income received in Singapore by an approved international shipping enterprise from a partnership outside Singapore, being income that is approved for this sub‑paragraph by the Minister, is exempt from tax, subject to the conditions imposed by the Minister and notified to the approved international shipping enterprise.”;

(b)

by inserting, immediately after sub‑paragraph (1A), the following sub‑paragraph:

“(1B) Income received in Singapore by an approved international shipping enterprise from its branch outside Singapore, being income that is approved for this sub‑paragraph by the Minister, is exempt from tax, subject to the conditions imposed by the Minister and notified to the approved international shipping enterprise.”; and

(c)

by inserting, immediately after sub‑paragraph (1B), the following sub‑paragraph:

“(1C) This paragraph applies only to income received in Singapore that is derived before, or is paid out of income that is derived before, 8 March 2018.”.

Made on 5 March 2018.

TAN CHING YEE

Permanent Secretary,
Ministry of Finance,
Singapore.

[R32.018.2974.V20; AG/LEGIS/SL/134/2015/8 Vol. 2]

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