No. S 329
Income Tax Act
Income Tax
(Prescribed Ship Management Services)
Rules 2017
In exercise of the powers conferred by section 7 of the Income Tax Act, the Minister for Finance makes the following Rules:
Citation and commencement
1.  These Rules are the Income Tax (Prescribed Ship Management Services) Rules 2017 and are deemed to have come into operation on 24 February 2015.
Prescribed ship management services
2.  The following are prescribed ship management services under the definition of that term in section 13A(16) of the Act:
(a)making a purchase or sale of a ship, or a decision regarding its ownership;
(b)deciding on a ship’s flag and registry;
(c)sourcing for and deciding on financing for a ship’s acquisition;
(d)awarding contracts, entering into alliances, or deciding on pooling, in respect of a ship;
(e)securing a ship’s employment or its cargo;
(f)planning a ship’s route and tonnage, including the issuance of voyage instructions;
(g)appointing a ship manager, ship agent or stevedore for a ship;
(h)collecting or arranging for the collection of freight, charter hire, or other payment in exchange for a ship’s use;
(i)arranging insurance for a ship;
(j)undertaking crew‑related matters for a ship, including the provision of qualified crew, the appointment of a crew manager, the provision of crew training or the arrangement of crew insurance;
(k)arranging or supervising dry‑docking, repair, overhaul, alteration, maintenance or lay‑up of a ship;
(l)ensuring that a ship is adequately equipped with supplies, provisions, spares, stores and lubricating oil;
(m)supervising the construction, conversion or registration of a ship;
(n)liaising with the relevant competent authorities or bodies on safety and manning requirements for a ship and any other similar matters;
(o)arranging for the provision of bunkers for a ship;
(p)providing post‑fixture services for a ship, including —
(i)voyage estimating; or
(ii)accounting or calculation of hire, freight, demurrage, or despatch moneys, due from or to charterers;
(q)arranging for surveys of a ship;
(r)undertaking any work requiring technical expertise (including basic design and front end engineering works) for a ship;
(s)appointing surveyors and technical consultants for a ship;
(t)supervising a sale and the physical delivery of a ship;
(u)arranging for the sampling and testing of bunkers for a ship;
(v)providing pre‑purchase inspection of a ship;
(w)ensuring that organisational, flag state, local port state and international requirements in relation to a ship are complied with (including auditing such requirements);
(x)supervising the maintenance and general efficiency of a ship.
Made on 22 June 2017.
Permanent Secretary,
Ministry of Finance,
[R032.018.2974.v19; AG/LEGIS/SL/134/2015/19 Vol. 1]
(To be presented to Parliament under section 7(2) of the Income Tax Act).