Income Tax Act |
Income Tax (Concessionary Rate of Tax for Members of Commodity Futures Exchange) Regulations |
Rg 17 |
REVISED EDITION 1998 |
(15th September 1998) |
[27th November 1992] |
Citation |
1. These Regulations may be cited as the Income Tax (Concessionary Rate of Tax for Members of Commodity Futures Exchange) Regulations and shall have effect for the year of assessment 1993 and subsequent years of assessment. |
Definitions |
2. In these Regulations, "relevant transaction" means any transaction in any commodity futures carried out on the Singapore Commodity Exchange Limited or in any commodity futures specified in the first column of the Schedule on the corresponding exchange or market specified in the second column thereof with –
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Prescribed Commodity Futures Exchange |
3. For the purposes of subsection (1) of section 43K of the Act, the prescribed Commodity Futures Exchange referred to in that subsection shall be the Singapore Commodity Exchange Limited. |
Concessionary rate of tax |
4. Tax shall be payable at the rate of 10% on the following income derived by a company which is a member of the Singapore Commodity Exchange Limited:
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Determination of income chargeable to tax |
5. The Comptroller shall determine –
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