Income Tax (Concessionary Rate of Tax for Approved Trustee Companies) (Amendment) Regulations 2007

Status:

Published in Subsidiary Legislation Supplement
on 17 Oct 2007

No. S 546

Income Tax Act

(Chapter 134)

Income Tax (Concessionary Rate of Tax for Approved Trustee Companies) (Amendment) Regulations 2007

In exercise of the powers conferred by section 43J 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 Trustee Companies) (Amendment) Regulations 2007 and shall be deemed to have come into operation on 18th February 2005.

Amendment of regulation 2

2. Regulation 2 of the Income Tax (Concessionary Rate of Tax for Approved Trustee Companies) Regulations (Rg 21) is amended —

(a)

by inserting, immediately after the definition of “designated persons”, the following definition:

“ “foreign account” has the same meaning as in section 13O of the Act;”; and

(b)

by inserting, immediately after the definition of “mutual fund corporation”, the following definition:

“ “philanthropic purpose trust” has the same meaning as in section 13O of the Act;”.

Amendment of regulation 3

3. Regulation 3 of the Income Tax (Concessionary Rate of Tax for Approved Trustee Companies) Regulations is amended —

(a)	by inserting, immediately after the words “foreign trust” in paragraph (a), the words “, or as a trustee of a philanthropic purpose trust in respect of a foreign account”; and
(b)	by inserting, immediately after the words “foreign trust” in paragraph (f), the words “, or to any trustee of a philanthropic purpose trust in respect of a foreign account”. [G.N. Nos. S 349/2003; S93/2006]

Made this 12th day of October 2007.

TEO MING KIAN

Permanent Secretary,
Ministry of Finance,
Singapore.

[MF(R)R32.07.2603 Vol. 2; AG/LEG/SL/134/2005/15 Vol. 1]

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