Exemption for interest payment under specified contract effective on date between 19 February 2020 and 31 December 2022 or varied on a date between 4 November 2022 and 31 December 2026
4.—(1) This paragraph applies to any interest payment —
(a)
made by an approved exchange, an approved clearing house, a member of an approved exchange or a member of an approved clearing house, to a person who is not resident in Singapore;
(b)
that is not derived through any operation carried on by the person through the person’s permanent establishment in Singapore; and
(c)
that is a margin deposit interest payment required to be made —
(i)
under a specified contract that takes effect on a date that falls within the period from 19 February 2020 to 31 December 2022 (both dates inclusive);
[S 325/2024 wef 04/11/2022]
(ii)
under a specified contract that is extended or renewed, where —
(A)
the extension or renewal takes effect on a date that falls within the period mentioned in sub‑paragraph (i); and
(B)
the payment is made on or after the date on which the extension or renewal takes effect; or
[S 325/2024 wef 04/11/2022]
(iii)
under a specified contract that is varied, where —
(A)
the variation takes effect on a date that falls within the period from 4 November 2022 to 31 December 2026 (both dates inclusive); and
(B)
the payment is made on or after the date on which the variation takes effect.
[S 325/2024 wef 04/11/2022]
(2) A payment mentioned in sub‑paragraph (1) is exempt from tax.