Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (No. 13) Notification 1996

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No. S 433

Income Tax Act

(Chapter 134)

Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (No. 13) Notification 1996

In exercise of the powers conferred by section 13(4) of the Income Tax Act, the Minister for Finance hereby makes the following Notification:

1. This Notification may be cited as the Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (No. 13) Notification 1996.

2. There shall be exempt from withholding tax from 10th November 1995 to 10th November 1999 —

(a)	the interest payable by Gloryland Navigation Pte Ltd to The Hongkong and Shanghai Banking Corporation Limited, Hong Kong, under the Loan Agreement dated 10th November 1995; and
(b)	the swap payments made by Gloryland Navigation Pte Ltd to The Hongkong and Shanghai Banking Corporation Limited, Hong Kong, under the International Swap Dealers Association, Inc. (ISDA) Master Agreement dated 14th November 1995.

Made this 24th day of September 1996.

NGIAM TONG DOW

Permanent Secretary,
Ministry of Finance,
Singapore.

[MF(R)R32.12.06 Pt. 25 Vol. 3; AG/SL/10/95(E)]

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