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No. S 181

Income Tax Act

(CHAPTER 134)

Income Tax
(Use of Container — Section 13(4) Exemption)
Notification 2020

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

Citation

1. This Notification is the Income Tax (Use of Container — Section 13(4) Exemption) Notification 2020.

Exemption

2.—(1) Rent or other payments accruing to a person resident outside Singapore under any lease or agreement entered into on or before 31 December 2022 in respect of the use of a container for the carriage of goods by sea, are exempt from tax.

(2) Sub‑paragraph (1) does not apply if the rent or payments are derived from any operation carried on by the person through the person’s permanent establishment in Singapore.

(3) In this paragraph, “container” means an article of equipment having a minimum volume of one TEU (twenty‑foot equivalent unit), designed and constructed for repeated use for the intermodal carriage of goods by road, rail or sea and for the interchange of such forms of transportation.

Amendment of Notification

3. The Notifications Exemption from Tax of Interest, Royalties, etc., on Economic and Technological Development Loans (N 1) is amended by deleting G.N. Nos. S 12/79 and S 57/79 and their entries relating thereto.

Made on 23 March 2020.

TAN CHING YEE

Permanent Secretary,
Ministry of Finance,
Singapore.

[R032.012.2340.V1; AG/LEGIS/SL/134/2015/12 Vol. 1]