Income Tax Act |
Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans and Finance Leases) (No. 4) Notification 2016 |
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Citation and commencement |
1. This Notification is the Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans and Finance Leases) (No. 4) Notification 2016 and is deemed to have come into operation on 17 February 2012. [S 338/2021 wef 24/02/2015] |
General definitions |
2. In this Notification, unless the context otherwise requires —
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Meaning of “applicable loan” |
Exemption in relation to applicable loan |
4.—(1) Subject to sub-paragraphs (2) to (6) and the conditions imposed by the Minister under section 13(4) of the Act —
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Meaning of “applicable finance lease” |
5.—(1) In this Notification, an applicable finance lease is a lease of one or more containers (at least one of which is a container within the meaning of “container” in section 43ZA(7) of the Act) under a finance lease entered into before 12 December 2018 that is treated as a sale pursuant to regulations made under section 10D of the Act.
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Exemption in relation to applicable finance lease |
6.—(1) Subject to sub-paragraphs (2) to (5) and the conditions imposed by the Minister under section 13(4) of the Act, any qualifying payment that an approved container investment enterprise is liable to make between 24 February 2015 and 11 December 2018 (both dates inclusive) to a specified person under an applicable finance lease, is exempt from tax.
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Permanent Secretary (Finance) (Performance), Ministry of Finance, Singapore. |
[R32.012. 2340.V1; AG/LLRD/SL/134/2010/5 Vol. 6] |