Definitions
2.—(1)  In this Notification —
“basis period” means the basis period for any year of assessment;
“qualifying amount” means —
(a)any interest, commission, fee or other payment; or
(b)any income derived from loans,
which is deemed under section 12(6) of the Act to be derived from Singapore.
[S 708/2024 wef 19/02/2019]
(2)  In this Notification, a reference to a basis period —
(a)in relation to an approved company, approved person, approved master fund, approved feeder fund, approved 1st tier SPV, approved 2nd tier SPV or approved eligible SPV, the period of approval of which begins or ends during his, her or its basis period, is to the part of the basis period that is within the period of approval; or
(b)in relation to a taxable entity in relation to an approved master fund, approved feeder fund or approved eligible SPV, where —
(i)the master fund, feeder fund or SPV is not a legal entity; and
(ii)the period of approval of the master fund, feeder fund or SPV begins or ends during the basis period of that taxable entity,
is to the part of the basis period that is within the period of approval.
[S 708/2024 wef 19/02/2019]