Income Tax (Exemption of Royalties and Other Payments for Economic and Technological Development) Notification 2003

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No. S 529

Income Tax Act

(Chapter 134)

Income Tax (Exemption of Royalties and Other Payments for Economic and Technological Development) Notification 2003

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

1. This Notification may be cited as the Income Tax (Exemption of Royalties and Other Payments for Economic and Technological Development) Notification 2003.

Definitions

2. In this Notification

“Indefeasible Right of Use” or “IRU” means an indefeasible right to use an international telecommunications submarine cable system;

“international telecommunications submarine cable system” means an international submarine cable that is laid in the sea and includes its cable landing station and any other equipment ancillary to the submarine cable system.

Exemption

3. There shall be exempt from tax any income of a non-resident person accruing in or derived from Singapore during the period from 28th February 2003 to 27th February 2008 (both dates inclusive) that is a payment —

(a)	made to the non-resident person for the use of or right to use any international telecommunication submarine cable capacity (including any payment for an IRU);
(b)	not derived from any trade or business carried on or exercised by the non-resident person in Singapore; and
(c)	not effectively connected with any permanent establishment in Singapore.

Made this 13th day of November 2003.

LIM SIONG GUAN

Permanent Secretary,
Ministry of Finance,
Singapore.

[MF(R)R32.19.13; AG/LEG/SL/134/2002/11 Vol. 2]

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