Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development) (No. 5) Notification 2008

Status:

Published in Subsidiary Legislation Supplement
on 03 Nov 2008

No. S 568

Income Tax Act

(Chapter 134)

Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development) (No. 5) Notification 2008

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 and commencement

1. This Notification may be cited as the Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development) (No. 5) Notification 2008 and shall be deemed to have come into operation on 1st March 2007.

Exemption

2.—(1) There shall be exempt from tax the payments made under an agreement or arrangement for the charter of any aircraft by an approved aircraft leasing company from a person not resident in Singapore (excluding a permanent establishment in Singapore), subject to such conditions as may be imposed by the Minister and notified to the approved aircraft leasing company.

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

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/134/2005/8 Vol. 2]

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