Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (Consolidation) Notification

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as at 18 Nov 2024

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Income Tax Act

(Chapter 134, Section 13(4))

Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (Consolidation) Notification

N 10

G.N. No. S 24/1996

REVISED EDITION 1997

(15th June 1997)

1. The swap payments made by Pescara Pte Ltd to Hill Samuel Bank Limited, England, under the International Swap Dealers Association, Inc. (ISDA) Master Agreement dated 14th December 1995 shall be exempt from income tax from 14th December 1995 to 19th December 2005.

[S 24/96]

2. There shall be exempt from withholding tax from 1st September 1995 to 3rd October 2000 —

(a)	the interest payable by Singapore Technologies Pte Ltd under the Loan Agreement dated 1st September 1995; and
(b)	the swap payment payable by Singapore Technologies Pte Ltd to Westpac Banking Corporation, Australia under the International Swap Dealers Association, Inc. (ISDA) Master Agreement dated 1st September 1995. [S 40/96]

3. The interest payable by Nan Shipping Pte. Limited under the Loan Agreement dated 3rd August 1995 shall be exempt from income tax from 3rd August 1995 to 5th April 2000.

[S 41/96]

4. The interest payable by the companies set out in the first column of the Schedule to SCL Noa Co., Ltd, Japan and SCL Southern Cross Co., Ltd, Japan under the agreements set out opposite thereto in the second column shall be exempt from income tax from 21st July 1995 to 30th June 2000.