Income Tax (Oasis LNG No 1 Pte. Ltd., etc. — Section 13(4) Exemption) Notification 2025

Status:

Published in Subsidiary Legislation Supplement
on 05 Feb 2025

No. S 98

Income Tax Act 1947

Income Tax
(Oasis LNG No 1 Pte. Ltd., etc. —
Section 13(4) Exemption)
Notification 2025

In exercise of the powers conferred by section 13(4) of the Income Tax Act 1947, the Minister for Finance makes the following Notification:

Citation and commencement

1. This Notification is the Income Tax (Oasis LNG No 1 Pte. Ltd., etc. — Section 13(4) Exemption) Notification 2025 and is deemed to have come into operation on 14 August 2023.

Exemption

2.—(1) The fees mentioned in the third column of the following table, paid by the borrower mentioned in the first column of the table opposite those fees, to the lenders mentioned in the second column of the table, under the agreement mentioned in the fourth column of the table opposite those fees, are exempt from tax:

First column

Second column

Third column

Fourth column

Borrower

Lenders

Fees

Agreement

Oasis LNG No 1 Pte. Ltd.

1.	Bank of China Limited Qatar Financial Centre Branch

2.	Bank of China Limited, Shanghai Branch

3.	Bank of China Limited, Tokyo Branch

4.	Caixabank, S.A.

5.	Development Bank of Japan Inc.

6.	MUFG Bank, Ltd.

7.	SBI Shinsei Bank, Limited

8.	SMBC Bank International plc

9.	Sumitomo Mitsui Trust Bank, Limited

1.	Upfront fee of $1,887,637 paid on 14 August 2023

2.	Commitment fee of $324,855 paid on 11 September 2023

Loan facility agreement dated 15 June 2023 to finance the construction of the 174,000 m³ liquefied natural gas carrier with hull number 3395

Oasis LNG No 2 Pte. Ltd.

1.	Upfront fee of $1,890,535 paid on 14 August 2023

2.	Commitment fee of $316,054 paid on 11 September 2023

Loan facility agreement dated 15 June 2023 to finance the construction of the 174,000 m³ liquefied natural gas carrier with hull number 3396

Oasis LNG No 3 Pte. Ltd.

1.	Upfront fee of $1,891,505 paid on 14 August 2023

2.	Commitment fee of $316,220 paid on 11 September 2023

Loan facility agreement dated 15 June 2023 to finance the construction of the 174,000 m³ liquefied natural gas carrier with hull number 3397

Oasis LNG No 4 Pte. Ltd.

1.	Upfront fee of $1,898,274 paid on 14 August 2023

2.	Commitment fee of $326,687 paid on 11 September 2023

Loan facility agreement dated 15 June 2023 to finance the construction of the 174,000 m³ liquefied natural gas carrier with hull number 3398

Oasis LNG No 5 Pte. Ltd.

1.	Upfront fee of $1,899,051 paid on 14 August 2023

2.	Commitment fee of $317,482 paid on 11 September 2023

Loan facility agreement dated 15 June 2023 to finance the construction of the 174,000 m³ liquefied natural gas carrier with hull number 3399

Oasis LNG No 6 Pte. Ltd.

1.	Upfront fee of $1,903,224 paid on 14 August 2023

2.	Commitment fee of $327,535 paid on 11 September 2023

Loan facility agreement dated 15 June 2023 to finance the construction of the 174,000 m³ liquefied natural gas carrier with hull number 3400

Oasis LNG No. 7 Pte. Ltd.

1.	Upfront fee of $1,903,224 paid on 14 August 2023

2.	Commitment fee of $327,535 paid on 11 September 2023

Loan facility agreement dated 15 June 2023 to finance the construction of the 174,000 m³ liquefied natural gas carrier with hull number 3401

(2) The exemption in sub-paragraph (1) is subject to the conditions specified in the letter from the Inland Revenue Authority of Singapore dated 6 January 2025 that is issued on behalf of the Minister for Finance and addressed to Oasis LNG No 1 Pte. Ltd., Oasis LNG No 2 Pte. Ltd., Oasis LNG No 3 Pte. Ltd., Oasis LNG No 4 Pte. Ltd., Oasis LNG No 5 Pte. Ltd., Oasis LNG No 6 Pte. Ltd. and Oasis LNG No. 7 Pte. Ltd.

Made on 3 February 2025.

LAI CHUNG HAN

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

[AG/LEGIS/SL/134/2025/1]

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