Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 5) Notification 2005

Status:

Published in Subsidiary Legislation Supplement
on 12 Jul 2005

No. S 454

Income Tax Act

(Chapter 134)

Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 5) Notification 2005

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) (No. 5) Notification 2005.

Exemption

2. There shall be exempt from tax —

(a)	interest payable by Jembawati Maritime Pte. Ltd. from 6th September 2004 to 6th September 2011 (both dates inclusive) to Fortis Bank S.A./N.V., Singapore Branch under the Loan Agreement dated 23rd August 2004 in respect of the vessel “Jembawati”; and
(b)	fees payable by Jembawati Maritime Pte. Ltd. to Fortis Bank S.A./N.V., Singapore Branch under the Loan Agreement referred to in sub-paragraph (a).

Made this 7th day of July 2005.

LIM SIONG GUAN

Permanent Secretary,
Ministry of Finance,
Singapore.

[MF R32.12.6 Pt. 26 V14; AG/LEG/SL/134/2005/8 Vol. 1]

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