Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 1997

Status:

Published in Subsidiary Legislation Supplement
on 31 Jan 1997

No. S 29

Income Tax Act

(Chapter 134)

Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 1997

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

Citation

1. This Notification may be cited as the Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 1997.

Exemption

2. There shall be exempt from tax the interest payable under the US$500 million Asian Medium Term Note Programme by Norddeutsche Landesbank Girozentrale to any noteholder who is —

(a)	an individual who is not resident in Singapore; or
(b)	a person, other than an individual, who is neither a resident of nor a permanent establishment in Singapore.

Terms and conditions of exemption

3. The exemption is subject to the terms and conditions specified in the Ministry of Finance’s letter of approval dated 25th November 1996 and the Annexes thereto.

Made this 22nd day of January 1997.

NGIAM TONG DOW

Permanent Secretary,
Ministry of Finance,
Singapore.

[MF(R)R32.12.016 Pt. 2 Vol. 6; AG/SL/10/95(E)]

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