Income Tax Act |
Income Tax (Exemption of Income of Locally Administered Trust) Regulations 2007 |
|
Citation and commencement |
1. These Regulations may be cited as the Income Tax (Exemption of Income of Locally Administered Trust) Regulations 2007 and shall be deemed to have come into operation on 17th February 2006. |
Definitions |
Exemption |
3. Subject to regulation 4, there shall be exempt from tax the relevant income of —
|
Deduction of certain losses not allowed |
4. No deduction shall be allowed under the Act to any eligible locally administered trust or holding company of such trust in respect of any loss arising from any transaction that would have been exempted from tax under regulation 3 had it resulted in a gain or profit. |
Keeping of records |
5. Every trustee company administering an eligible locally administered trust shall keep and maintain such records of the particulars of every settlor and beneficiary of the locally administered trust as may be required by the Minister or an authorised body for the purposes of these Regulations. [S 929/2022 wef 06/12/2022] |
Permanent Secretary, Ministry of Finance, Singapore. |
[MF R32.018.2928 Vol. 2; AG/LEG/SL/134/2005/30 Vol. 1] |
Current Acts and Subsidiary Legislation | |
Current Acts | |
Current Subsidiary Legislation | |
All Collections | |
Acts Supplement | |
Bills Supplement | |
Subsidiary Legislation Supplement | |
Revised Editions of Acts | |
Revised Editions of Subsidiary Legislation |