Comparison View

Formal Consolidation |  Amended S 236/2017
Concessionary rate of tax
4.—(1)  For the purposes of section 43P(1)(b) of the Act and subject to paragraph (2), tax is payable at the rate of 10% for each year of assessment on the income of an approved qualifying company derived from the carrying on of such of the following activities or services as the Minister or the appointed person may specify:
(a)prescribed qualifying structured commodity financing activities;
(b)prescribed treasury activities;
(c)prescribed advisory services in relation to mergers and acquisitions.
(2)  Tax at the rate of 5% is payable for each year of assessment upon any income mentioned in paragraph (1) of an approved qualifying company which satisfies all conditions that are imposed by the Minister or the appointed person.
[S 236/2017 wef 25/03/2016]
Informal Consolidation | Amended S 853/2021
Concessionary rate of tax
4.—(1)  Tax at the rate of 5% is levied and must be paid for each year of assessment on the income of a qualifying company that has been approved for that rate from the carrying on of any of the following activities or services that has been specified for the company by the Minister or appointed person:
(a)prescribed qualifying structured commodity financing activities;
(b)prescribed treasury activities;
(c)prescribed advisory services in relation to mergers and acquisitions.
(2)  Tax at the rate of 10% is levied and must be paid for each year of assessment on the income of a qualifying company that has been approved for that rate from the carrying on of any activity or service mentioned in paragraph (1) that has been specified for that company by the Minister or appointed person.
[S 853/2021 wef 08/11/2021]