Income Tax (Concessionary Rate of Tax for Approved Finance and Treasury Centre) (Amendment) Regulations 2017

No. S 87

Income Tax Act

(CHAPTER 134)

Income Tax (Concessionary Rate of Tax for
Approved Finance and Treasury Centre)
(Amendment) Regulations 2017

In exercise of the powers conferred by section 43G(1) of the Income Tax Act, the Minister for Finance makes the following Regulations:

Citation and commencement

1. These Regulations are the Income Tax (Concessionary Rate of Tax for Approved Finance and Treasury Centre) (Amendment) Regulations 2017 and come into operation on 10 March 2017.

New regulation 2A

2. The Income Tax (Concessionary Rate of Tax for Approved Finance and Treasury Centre) Regulations (Rg 18) (called in these Regulations the principal Regulations) is amended by inserting, immediately after regulation 2, the following regulation:

“Application

2A. These Regulations apply only to any Finance and Treasury Centre that was approved under regulation 3(1), or had the period of its approval extended under regulation 3(2), before 21 February 2017, until the expiry of the period of that approval or extension (as the case may be).”.

Amendment of regulation 3

3. Regulation 3 of the principal Regulations is amended —

(a)	by deleting the words “such period not exceeding 10 years as he may specify” in paragraph (1) and substituting the words “a period of 5 years”; and
(b)	by deleting the words “such further periods, not exceeding 10 years at any one time, as he thinks fit” in paragraph (2) and substituting the words “further periods of 5 years at any one time”.

Amendment of regulation 4

4. Regulation 4(1) of the principal Regulations is amended by deleting the words “rate of 10%” and substituting the words “concessionary rate specified in section 43G(1A) of the Act”.

Amendment of regulation 5

5. Regulation 5 of the principal Regulations is amended by deleting the words “rate of 10%” in paragraph (a) and substituting the words “concessionary rate specified in section 43G(1A) of the Act”.

Deletion and substitution of Schedule

6. The Schedule to the principal Regulations is deleted and the following Schedule substituted therefor:

“THE SCHEDULE

Regulation 2

Part 1

exchanges

1.	Australian Securities Exchange Limited

2.	Board of Trade of the City of Chicago, Inc.

3.	Chicago Mercantile Exchange, Inc.

4.	Commodity Exchange, Inc.

5.	Eurex Deutschland

6.	ICE Futures Europe

7.	ICE Futures Singapore Pte Ltd

8.	New York Mercantile Exchange, Inc.

9.	Singapore Exchange Derivatives Trading Limited

10.	Tokyo Stock Exchange

Part 2

exchanges for past transactions

1.	Chicago Board of Trade

2.	Chicago Mercantile Exchange

3.	Commodity Exchange, Incorporated (New York)

4.	Deutsche Terminboerse

5.	London International Financial Futures Exchange

6.	Marche a Terme International de France

7.	New York Mercantile Exchange

8.	New Zealand Futures and Options Exchange

9.	Sydney Futures Exchange”.

[G.N. Nos. S 483/99; S 492/2003; S 17/2006; S 94/2006; S 159/2007; S 437/2007; S 82/2014]

Made on 9 March 2017.

LIM SOO HOON

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

[MFR032.018.3015 Vol 4; AG/LEGIS/SL/134/2015/32 Vol. 1]

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