Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (No. 11) Notification 1998

Status:

Published in Subsidiary Legislation Supplement
on 03 Jul 1998

No. S 363

Income Tax Act

(Chapter 134)

Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (No.11) Notification 1998

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 for Economic and Technological Development Loans) (No.11) Notification 1998.

Exemption

2. There shall be exempt from tax the interest payable by Maritime Leasing Pte Ltd to the following banks under the Loan Agreement dated 26th March 1997, from 1st July 1997 to 1st April 2011:

(a)	ABM AMRO Bank NV, Korea;
(b)	Commercial Bank of Korea Ltd, United Kingdom; and
(c)	Kookmin Bank, Korea.

Made this 29th day of June 1998.

NGIAM TONG DOW

Permanent Secretary,
Ministry of Finance,
Singapore.

[MF(R) R32.12.06 Pt.26 Vol.3; AG/LEG/SL/134/97/3 Vol.1]

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