Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (No. 3) Notification 2001

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Published in Subsidiary Legislation Supplement
on 28 Aug 2001

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No. S 404

Income Tax Act

(Chapter 134)

Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (No. 3) Notification 2001

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 and commencement

1. This Notification may be cited as the Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (No. 3) Notification 2001 and shall be deemed to have come into operation 21st August 2001.

Exemption

2. There shall be exempt from tax the interest payable on any loan or other arrangement similar in nature to a loan by a company which is approved as an international shipping enterprise under section 13F of the Act in currencies other than Singapore dollars to any bank outside Singapore, subject to the terms and conditions specified in the letter of approval addressed to the company.

Made this 21st day of August 2001.

LIM SIONG GUAN

Permanent Secretary,
Ministry of Finance,
Singapore.

[MF(R) R32.12.01 Vol. 16; AG/LEG/SL/134/97/3 Vol. 2]