Income Tax (Concessionary Rate of Tax for Income Derived from Managing Qualifying Registered Business Trust or Company) (Amendment) Regulations 2010

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Published in Subsidiary Legislation Supplement
on 01 Apr 2008

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No. S 97

Income Tax Act

(Chapter 134)

Income Tax (Concessionary Rate of Tax for Income Derived from Managing Qualifying Registered Business Trust or Company) (Amendment) Regulations 2010

In exercise of the powers conferred by section 43ZD 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 Income Derived from Managing Qualifying Registered Business Trust or Company) (Amendment) Regulations 2010 and shall be deemed to have come into operation on 1st April 2008.

New regulation 6

2. The Income Tax (Concessionary Rate of Tax for Income Derived from Managing Qualifying Registered Business Trust or Company) Regulations 2009 (G.N. No. S 155/2009) are amended by inserting, immediately after regulation 5, the following regulation:

“Determination of income chargeable to tax

6. For the purposes of regulation 5, the Comptroller shall determine —

(a)	the income chargeable to tax of an approved trustee-manager or approved fund management company, as the case may be, having regard to such expenses, capital allowances and donations allowable under the Act as are, in his opinion, to be deducted in ascertaining such income; and
(b)	the manner and extent to which any losses arising from the activities specified in these Regulations in respect of any prescribed offshore infrastructure asset or project may be deducted under the Act in ascertaining the chargeable income of an approved trustee-manager or approved fund management company.”.

Made this 12th day of February 2010.

PETER ONG

Permanent Secretary,
Ministry of Finance,
Singapore.

[R32.18.2937.V6; AG/LLRD/SL/134/2010/1 Vol. 1]