Income Tax (Exemption of Income of Foreign Trusts) (Amendment) Regulations 2006

Status:

Published in Subsidiary Legislation Supplement
on 21 Feb 2006

No. S 95

Income Tax Act

(Chapter 134)

Income Tax (Exemption of Income of Foreign Trusts) (Amendment) Regulations 2006

In exercise of the powers conferred by section 13G 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 (Exemption of Income of Foreign Trusts) (Amendment) Regulations 2006 and shall be deemed to have come into operation on 30th January 2006.

Amendment of regulation 2

2. Regulation 2 of the Income Tax (Exemption of Income of Foreign Trusts) Regulations (Rg 24) is amended —

(a)	by deleting the words “the whole of the issued capital of the company is” in paragraph (a) of the definition of “foreign company” and substituting the words “all of its issued shares are”; and
(b)	by deleting the words “issued capital of the company is” in paragraph (b) of the definition of “foreign company” and substituting the words “total number of issued shares of the company are”.

Amendment of regulation 5

3. Regulation 5 of the Income Tax (Exemption of Income of Foreign Trusts) Regulations is amended —

(a)	by deleting the words “issued capital” in paragraph (c) and substituting the words “total number of issued shares”; and
(b)	by deleting the words “its issued capital” in paragraph (d) and substituting the words “the total number of its issued shares”. [G.N. Nos. S 350/2003; S590/2005]

Made this 14th day of February 2006.

LIM SIONG GUAN

Permanent Secretary,
Ministry of Finance,
Singapore.

[MF (R) R032.007.2605 V3; AG/LEG/SL/134/2005/9 Vol. 1]

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