Income Tax (Sasseur Bishan HK Limited — Section 13(12) Exemption) (No. 2) Order 2024

Status:

Current version
as at 23 Nov 2024

No. S 389

Income Tax Act 1947

Income Tax
(Sasseur Bishan HK Limited —
Section 13(12) Exemption)
(No. 2) Order 2024

In exercise of the powers conferred by section 13(12) of the Income Tax Act 1947, the Minister for Finance makes the following Order:

Citation

1. This Order is the Income Tax (Sasseur Bishan HK Limited — Section 13(12) Exemption) (No. 2) Order 2024.

Exemption

2.—(1) Interest income described in sub‑paragraph (2), that is received in Singapore by Sasseur Bishan HK Limited (a company incorporated in Hong Kong Special Administrative Region of the People’s Republic of China) from Chongqing Sasseur Suge Apparel Joint Stock Co., Ltd. (a company incorporated in the People’s Republic of China) on or after 1 March 2024, is exempt from tax.

(2) Sub‑paragraph (1) applies to interest income from the loan granted under the agreements dated 20 March 2018, 15 September 2018 and 5 July 2020 between Sasseur Bishan HK Limited and Chongqing Sasseur Suge Apparel Joint Stock Co., Ltd.

(3) The exemption in sub‑paragraph (1) is subject to the conditions specified in the letter from the Ministry of Finance dated 24 April 2024 and addressed to EY Corporate Advisors Pte. Ltd.

Made on 30 April 2024.

LAI WEI LIN

Second Permanent Secretary,
Ministry of Finance,
Singapore.

[AG/LEGIS/SL/134/2020/23 Vol. 4]

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