Income Tax Act |
Income Tax (Exemption of Income of Trustee of Trust Fund Arising from Funds Managed by Fund Manager in Singapore) Regulations 2010 |
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Citation and commencement |
1. These Regulations may be cited as the Income Tax (Exemption of Income of Trustee of Trust Fund Arising from Funds Managed by Fund Manager in Singapore) Regulations 2010 and shall be deemed to have come into operation on 1st September 2007. |
Definitions |
Prescribed trust fund for tax exemption |
3.—(1) For the purposes of exemption from tax under section 13C of the Act, a prescribed trust fund is a trust fund —
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Prescribed fund manager for tax exemption |
4. For the purposes of exemption from tax under section 13C of the Act, a prescribed fund manager is a fund manager within the meaning of section 2 of the Act. |
Prescribed income for tax exemption |
5. Subject to regulations 5A and 6, the income exempt from tax under section 13C of the Act is the specified income derived by a trustee of a prescribed trust fund from funds managed in Singapore by any fund manager in respect of designated investments. [S 9/2011 wef 01/09/2007] |
No deduction in respect of loss arising from designated investments |
5A. Notwithstanding anything in these Regulations, no deduction shall be allowed under the Act to any trustee of a prescribed trust fund in respect of any loss arising from —
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Application |
6. These Regulations shall not apply where the trustee of a prescribed trust fund (other than a trust fund referred to in regulation 3(2)), in its capacity as trustee of that prescribed trust fund —
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Saving and transitional provision |
7. Notwithstanding the repeal of section 13C of the Act in force immediately before 1st September 2007, where any foreign investor —
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Permanent Secretary, Ministry of Finance, Singapore. |
[R032.19.4.V32; AG/LEG/SL/134/2005/29 Vol. 1] |
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