Income Tax (Concessionary Rate of Tax for Aircraft Leasing Company) (Prescribed Activities) Regulations 2008

Status:

Published in Subsidiary Legislation Supplement
on 03 Nov 2008

No. S 566

Income Tax Act

(Chapter 134)

Income Tax (Concessionary Rate of Tax for Aircraft Leasing Company) (Prescribed Activities) Regulations 2008

In exercise of the powers conferred by section 43Y 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 Aircraft Leasing Company) (Prescribed Activities) Regulations 2008 and shall be deemed to have come into operation on 1st March 2007.

Prescribed activities

2.—(1) For the purposes of section 43Y(1) of the Act, the prescribed activities shall be the activities specified in the Schedule which are ancillary to carrying on a business of leasing aircraft or aircraft engines by an approved aircraft leasing company.

(2) In paragraph (1), “approved aircraft leasing company” means an aircraft leasing company approved under section 43Y of the Act.

Revocation

3. The Income Tax (Concessionary Rate of Tax for Leasing Company) (Prescribed Activities) Regulations (Rg 34) are revoked.

Made this 30th day of October 2008.

TEO MING KIAN

Permanent Secretary,
Ministry of Finance,
Singapore.

[MF(R) 32.18.14 Pt2 V8; AG/LEG/SL/134/2005/40 Vol. 1]

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