Income Tax (Exemption of Income of Approved Venture Company) (Amendment) Regulations 1999

Status:

Published in Subsidiary Legislation Supplement
on 08 Jun 1999

No. S 264

Income Tax Act

(Chapter 134)

Income Tax (Exemption of Income of Approved Venture Company) (Amendment) Regulations 1999

In exercise of the powers conferred by section 13H of the Income Tax Act, the Minister for Finance hereby makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Income Tax (Exemption of Income of Approved Venture Company) (Amendment) Regulations 1999 and shall be deemed to have come into operation on 27th February 1998.

Amendment of regulation 2

2. Regulation 2 of the Income Tax (Exemption of Income of Approved Venture Company) Regulations (Rg 22) is amended by deleting paragraph (1) and substituting the following paragraphs:

“(1) Subject to these Regulations and section 13H of the Act, the specified income of an approved venture company derived by it from any approved investment shall be exempt from tax or taxed at such concessionary rate, not being more than 10%, as the Minister (or such person as he may appoint) may specify.

(1A) The exemption from tax or the concessionary rate of tax under paragraph (1) in respect of the approved venture company shall be for such period as the Minister (or such person as he may appoint) may specify.”.

Made this 7th day of June 1999.

NGIAM TONG DOW

Permanent Secretary,
Ministry of Finance,
Singapore.

[MF R32.18.026 Vol. 3; AG/LEG/SL/134/97/9 Vol. 1]

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