Income Tax (Exemption of Certain Income of Prescribed Sovereign Fund Entities and Approved Foreign Government-Owned Entities) (Amendment) Regulations 2013

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Published in Subsidiary Legislation Supplement
on 13 Aug 2013

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No. S 514

Income Tax Act

(CHAPTER 134)

Income Tax
(Exemption of Certain Income of
Prescribed Sovereign Fund Entities and
Approved Foreign Government-Owned Entities)
(Amendment) Regulations 2013

In exercise of the powers conferred by section 13Y of the Income Tax Act, the Minister for Finance hereby makes the following Regulations:

Citation and application

1.—(1) These Regulations may be cited as the Income Tax (Exemption of Certain Income of Prescribed Sovereign Fund Entities and Approved Foreign Government-Owned Entities) (Amendment) Regulations 2013

(2) Regulation 2 shall have effect for the year of assessment 2013 and subsequent years of assessment.

Amendment of regulation 6

2. Regulation 6 of the Income Tax (Exemption of Certain Income of Prescribed Sovereign Fund Entities and Approved Foreign Government-Owned Entities) Regulations 2012 (G.N. No. S 50/2012) is amended by deleting paragraph (a) and substituting the following paragraph:

“(a)	there shall be deducted from the income referred to in regulation 5 any expenses allowable under the Act which are attributable to that income, and any balance of the expenses shall be disregarded; and”.

Made this 31st day of July 2013.

LIM SOO HOON

Permanent Secretary
(Finance) (Performance),
Ministry of Finance,
Singapore.

[MF/R032.18.2989.V4; AG/LLRD/SL/134/2010/20 Vol. 1]