Income Tax (Concessionary Rate of Tax for Approved Finance and Treasury Centre) (Amendment No. 2) Regulations 2007

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Published in Subsidiary Legislation Supplement
on 22 Aug 2007

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No. S 437

Income Tax Act

(Chapter 134)

Income Tax (Concessionary Rate of Tax for Approved Finance and Treasury Centre) (Amendment No. 2) Regulations 2007

In exercise of the powers conferred by section 43G 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 (Concessionary Rate of Tax for Approved Finance and Treasury Centre) (Amendment No. 2) Regulations 2007 and shall be deemed to have come into operation on 15th February 2007.

Amendment of regulation 2

2. Regulation 2 of the Income Tax (Concessionary Rate of Tax for Approved Finance and Treasury Centre) Regulations (Rg 18) is amended ––

(a)

by deleting the comma at the end of sub-paragraph (iv) of paragraph (k) of the definition of “qualifying activities” and substituting a semi-colon, and by inserting immediately thereafter the following paragraph:

“(l)	transacting or investing in units in any unit trust, where the manager of the unit trust engages wholly in one or more of the activities set out in paragraphs (a) to (h) or (k),”;

(b)

by inserting, immediately after the words “where the funds used” in the set out to the definition of “qualifying activities”, the words “by the approved Finance and Treasury Centre”; and

(c)

by deleting the full-stop at the end of the definition of “qualifying services” and substituting a semi-colon, and by inserting immediately thereafter the following definitions:

“ “unit” and “unit trust” have the same meanings as in section 10B of the Act.”.

[G.N. Nos. S 483/99; S 492/2003; S 17/2006; S 94/2006; S 159/2007]

Made this 20th day of August 2007.

TEO MING KIAN

Permanent Secretary,
Ministry of Finance,
Singapore.

[R32.12.0006.V19; AG/LEG/SL/134/2005/17 Vol. 1]