| Income Tax Act |
| Income Tax (Finance Lease of Ship — Section 13(4) Exemption) Notification 2020 |
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| Citation and commencement |
| 1. This Notification is the Income Tax (Finance Lease of Ship — Section 13(4) Exemption) Notification 2020 and is deemed to have come into operation on 12 December 2018. |
| Definitions |
2. In this Notification —
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| Exemption for payment under finance lease of Singapore ship |
| Exemption for payment under finance lease of foreign ship |
| 4.—(1) Subject to this paragraph, any payment that an approved international shipping enterprise or approved shipping investment enterprise is liable to make on or after 12 December 2018 to a non‑resident person under a finance lease of any foreign ship that is entered into on or before 31 December 2028, is exempt from tax. [S 157/2022 wef 04/03/2022]
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Permanent Secretary, Ministry of Finance, Singapore. |
| [R032.012.2340.V1; AG/LEGIS/SL/134/2020/12 Vol. 1] |