Income Tax (Cromwell SG SPV 5 Pte Ltd — Section 13(12) Exemption) Order 2021

Status:

Published in Subsidiary Legislation Supplement
on 19 Aug 2021

No. S 625

Income Tax Act

(CHAPTER 134)

Income Tax
(Cromwell SG SPV 5 Pte Ltd —
Section 13(12) Exemption) Order 2021

In exercise of the powers conferred by section 13(12) of the Income Tax Act, the Minister for Finance makes the following Order:

Citation

1. This Order is the Income Tax (Cromwell SG SPV 5 Pte Ltd — Section 13(12) Exemption) Order 2021.

Exemption

2.—(1) Income comprising dividends and interest described in sub‑paragraph (2), that is received in Singapore by Cromwell SG SPV 5 Pte Ltd on or after 30 November 2017 from Cromwell EREIT Lux 5 S.a.r.l (a company incorporated in Luxembourg), is exempt from tax.

(2) Sub-paragraph (1) applies to distribution income received by Cromwell EREIT Lux 5 S.a.r.l from Cromwell Europa 1 and Cromwell Europa 2 which are real estate investment funds constituted in Italy, out of the rental and property‑related income (including capital gains) of Cromwell Europa 1 and Cromwell Europa 2 from any of the properties specified in the Schedule.

(3) The exemption under sub‑paragraph (1) is subject to the conditions specified in the letter of approval dated 8 May 2020 addressed to EY Corporate Advisors Pte. Ltd.

Made on 14 August 2021.

TAN CHING YEE

Permanent Secretary,
Ministry of Finance,
Singapore.

[R032.015.0022.V1; AG/LEGIS/SL/134/2020/23 Vol. 1]

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