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On 21/08/2014, you requested the version in force on 21/08/2014 incorporating all amendments published on or before 21/08/2014. The closest version currently available is that of 13/08/2013.
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Concessionary rate of tax for approved insurer
4.
—(1)  Subject to regulations 4A and 5A, tax shall be payable at the rate of 10% on the following income derived by an approved insurer:
(a)
the amount referred to in section 26(7)(a)(i) of the Act (but excluding the investment income and gains or profits derived from the sale of investments and other income, whether derived from Singapore or elsewhere, of any life insurance fund established under the Insurance Act relating to offshore life policies);
[S 81/2009, wef Y/A 2006 & Sub Ys/A]
(b)
the dividends and interest derived from outside Singapore, the gains or profits realised from the sale of offshore investments, and interest from ACU deposits derived from —
(i)
subject to paragraph (2), the investment of its insurance fund established and maintained under the Insurance Act for the offshore life business; and
(ii)
the investment of its shareholders’ funds established in Singapore which are used to support the offshore life business as ascertained under regulation 5.
(2)  Where the Comptroller is satisfied that any part of the insurance fund referred to in sub-paragraph (b)(i) of paragraph (1) is not required to support the offshore life business of an approved insurer, he may adopt such reduced amount of the dividends, interest and gains or profits under that sub-paragraph as appears to him to be reasonable in the circumstances.
[S 81/2009, wef Y/A 2005 & Sub Ys/A]