Concessionary rate of tax
3.  Tax shall be payable at the rate of 10% on —
(a)any interest derived by a company on or after 28th February 1998 from any qualifying debt securities issued during the period from 28th February 1998 to 25th April 1999;
[S 214/2001 wef 10/04/2001]
(aa)subject to section 43N(2) of the Act, regulation 7 and the conditions specified in the Income Tax (Qualifying Debt Securities) Regulations 2001 (G.N. No. S 212/2001), any interest derived by a company on or after 26th April 1999 from any qualifying debt securities issued during the period from 26th April 1999 to 31st December 2013;
[S 214/2001 wef 10/04/2001]
[S 349/2005 wef 03/12/2003]
[S 349/2005 wef 01/01/2004]
[S 267/2009 wef 01/01/2009]
(ab)subject to section 43N(2) of the Act, regulation 7 and the conditions specified in the Income Tax (Qualifying Debt Securities) Regulations (Rg 35), any discount derived by a company from any qualifying debt securities which are —
(i)issued during the period from 27th February 2004 to 16th February 2006 and mature within one year from the date of issue; or
(ii)issued during the period from 17th February 2006 to 31st December 2013;
[S 267/2009 wef 01/01/2009]
[S 98/2007 wef 17/02/2006]
(ac)subject to section 43N(2) of the Act, regulation 7 and the conditions specified in the Income Tax (Qualifying Debt Securities) Regulations (Rg 35), any amount payable to any company from any Islamic debt securities which are qualifying debt securities, and issued during the period from 1st January 2005 to 31st December 2013;
[S 51/2006 wef 01/01/2005]
[S 267/2009 wef 01/01/2009]
(ad)subject to section 43N(2) of the Act, regulation 7 and the conditions specified in the Income Tax (Qualifying Debt Securities) Regulations (Rg 35), any break cost, prepayment fee or redemption premium derived by a company on or after 15th February 2007 from any qualifying debt securities issued during the period from 15th February 2007 to 31st December 2013;
[S 398/2008 wef 15/02/2007]
[S 267/2009 wef 01/01/2009]
(b)any income derived by a financial institution from trading in any debt securities during the period from 28th February 1998 to 31st December 2003; and
[S 349/2005 wef 03/12/2003]
(c)any income derived by any financial institution during the period commencing from the first day of its basis period for the year of assessment 2001 to 31st December 2003 from —
(i)providing services as an intermediary in connection with any transaction involving interest rate or currency swaps; and
(ii)trading in interest rate or currency swaps.
[S 349/2005 wef 03/12/2003]