Income Tax (Concessionary Rate of Tax for Approved Oil Trading Companies) (Amendment) Regulations 2001

Status:

Published in Subsidiary Legislation Supplement
on 10 Apr 2001

No. S 213

Income Tax Act

(Chapter 134)

Income Tax (Concessionary Rate of Tax
for Approved Oil Trading Companies) (Amendment) Regulations 2001

In exercise of the powers conferred by section 43F of the Income Tax Act, the Minister for Finance hereby makes the following Regulations:

Citation

1. These Regulations may be cited as the Income Tax (Concessionary Rate of Tax for Approved Oil Trading Companies) (Amendment) Regulations 2001.

Amendment of regulation 2

2. Regulation 2 of the Income Tax (Concessionary Rate of Tax for Approved Oil Trading Companies) Regulations (Rg 15) is amended —

(a)

by deleting the word “or” at the end of paragraph (c) of the definition of “physical trading”;

(b)

by deleting the comma at the end of paragraph (d) of the definition of “physical trading” and substituting the word “; or”, and by inserting immediately thereafter the following paragraph:

“(e)	a petrochemical manufacturing company in Singapore which is approved on or after 1st November 1996 by the Minister or such person as he may appoint,”; and

(c)

by inserting, immediately after the word “Singapore” in the last line of the definition of “physical trading”, the words “and any transaction in which the petroleum or petroleum product is both purchased from and sold to any petrochemical manufacturing company in Singapore which is approved on or after 1st November 1996 by the Minister or such person as he may appoint.”.

Amendment of Second Schedule

3. The Second Schedule to the Income Tax (Concessionary Rate of Tax for Approved Oil Trading Companies) Regulations is amended by inserting, immediately after item 16, the following item:

“

17. Petroleum coke or other residues from petroleum distillation

1st January 2000.

”.

Made this 4th day of April 2001.

LIM SIONG GUAN

Permanent Secretary,
Ministry of Finance,
Singapore.

[MF (R) 32.1.006 PT 1V 6; AG/LEG/SL/134/97/9 Vol. 2]

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