No. S 605
Income Tax Act
(CHAPTER 134)
Income Tax
(Exemption of Foreign Income) (No. 13)
Order 2017
In exercise of the powers conferred by section 13(12) of the Income Tax Act, the Minister for Finance makes the following Order:
Citation
1.  This Order is the Income Tax (Exemption of Foreign Income) (No. 13) Order 2017.
Exemption
2.—(1)  Income comprising dividends described in sub‑paragraph (2), that are received in Singapore by Pacific International Lines (Private) Limited (a company incorporated in Singapore) from Pacific International Lines (United Arab Emirates) LLC (a company incorporated in the United Arab Emirates), is exempt from tax.
(2)  Sub‑paragraph (1) applies to the following dividends:
(a)the dividends amounting to AED568,000 received by Pacific International Lines (Private) Limited in March 2017;
(b)the dividends amounting to AED1,000,000 received by Pacific International Lines (Private) Limited in August 2017.
(3)  The exemption in sub‑paragraph (1) is subject to the terms and conditions specified in the letter of approval dated 28 August 2017 addressed to Pacific International Lines (Private) Limited.
Made on 23 October 2017.
TAN CHING YEE
Permanent Secretary,
Ministry of Finance,
Singapore.
[R32.016.0056.V76; AG/LEGIS/SL/134/2015/8 Vol. 3]