No. S 257
Income Tax Act
(Chapter 134)
Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development) Notification 2010
In exercise of the powers conferred by section 13(4) of the Income Tax Act, the Minister for Finance hereby makes the following Notification:
Citation and commencement
1.—(1)  This Notification may be cited as the Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development) Notification 2010 and shall be deemed to have come into operation on 1st September 2009.
(2)  This Notification shall remain in operation for a period of 10 years until 31st August 2019.
Exemption
2.—(1)  There shall be exempt from tax the upfront fees and interest payable by BOC Aviation Pte. Ltd. to the following banks, under the Loan Agreements dated 25th August 2009 in respect of one Boeing 737-800 aircraft and one Boeing 737-700 aircraft with Manufacturer’s Serial Numbers 36690 and 36691, respectively:
(a)Bank of China Limited, Tokyo Branch;
(b)Bank of China Limited, Macau Branch; and
(c)Bank of China Limited, Sydney Branch.
(2)  The exemption is subject to the terms and conditions specified in the letter of approval dated 29th September 2009 addressed to BOC Aviation Pte. Ltd.
Made this 29th day of April 2010.
PETER ONG
Permanent Secretary,
Ministry of Finance,
Singapore.
[MF(R) 32.12.2327 V6; AG/LLRD/SL/134/2010/5 Vol. 1]
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