Singapore Government
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Contents

Long Title

Part I PRELIMINARY

Part II ADMINISTRATION

Part III IMPOSITION OF INCOME TAX

Part IV EXEMPTION FROM INCOME TAX

Part V DEDUCTIONS AGAINST INCOME

Part VI CAPITAL ALLOWANCES

Part VII ASCERTAINMENT OF CERTAIN INCOME

Part VIII ASCERTAINMENT OF STATUTORY INCOME

Part IX ASCERTAINMENT OF ASSESSABLE INCOME

Part X ASCERTAINMENT OF CHARGEABLE INCOME AND PERSONAL RELIEFS

Part XI RATES OF TAX

Part XII DEDUCTION OF TAX AT SOURCE

Part XIII ALLOWANCES FOR TAX CHARGED

Part XIV RELIEF AGAINST DOUBLE TAXATION

Part XV PERSONS CHARGEABLE

Husband and wife

Trustees, agents and curators

Part XVI RETURNS

Part XVII ASSESSMENTS AND OBJECTIONS

Part XVIII APPEALS

Part XIX COLLECTION, RECOVERY AND REPAYMENT OF TAX

Part XX OFFENCES AND PENALTIES

Part XXA Exchange of information under avoidance of double taxation arrangements and exchange of information arrangements

Part XXB INTERNATIONAL AGREEMENTS TO IMPROVE TAX COMPLIANCE

Part XXI MISCELLANEOUS

FIRST SCHEDULE Institution, authority, person or fund exempted

SECOND SCHEDULE Rates of tax

THIRD SCHEDULE

FOURTH SCHEDULE Name of bond, securities, stock or fund

FIFTH SCHEDULE Child relief

SIXTH SCHEDULE Number of years of working life of asset

SEVENTH SCHEDULE Advance rulings

EIGHTH SCHEDULE Information to be included in a request for information under Part XXA

Legislative History

Comparative Table

Comparative Table

 
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Print   Link to In-Force Version
On 23/11/2014, you requested the version in force on 23/11/2014 incorporating all amendments published on or before 23/11/2014. The closest version currently available is that of 31/03/2014.
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Concessionary rate of tax for income derived from managing qualifying registered business trust or company
43ZD.
—(1)  Notwithstanding section 43, the Minister may by regulations provide that tax at the rate of 10% shall be levied and paid for each year of assessment upon such income as the Minister may specify derived on or after 1st April 2008 —
(a)
by an approved trustee-manager of a qualifying registered business trust from providing services in such capacity in respect of such infrastructure asset or project situated outside Singapore as may be prescribed by regulations (referred to in this section as prescribed offshore infrastructure asset or project); and
(b)
by an approved fund management company from —
(i)
managing a qualifying company in respect of any prescribed offshore infrastructure asset or project; or
(ii)
arranging, on behalf of a qualifying company, any loan of designated securities under a securities lending arrangement in writing to another qualifying company.
[34/2008; 27/2009]
(2)  Regulations made under subsection (1) may provide for the deduction of losses otherwise than in accordance with section 37(3).
[34/2008]
(3)  The concessionary rate of tax referred to in subsection (1) shall apply to an approved trustee-manager or fund management company subject to such conditions as the Minister or such person as he may appoint may impose.
[34/2008]
(4)  Approval may be granted under this section between 1st April 2008 and 31st March 2017.
[34/2008; 22/2011]
(5)  In this section —
“approved” means approved by the Minister or such person as he may appoint;
“designated securities” means —
(a)
stocks, shares, bonds or other securities, denominated in any foreign currency, issued by a company which is neither incorporated in Singapore nor resident in Singapore; or
(b)
bonds denominated in any foreign currency issued by any foreign government;
“fund management company” means any company incorporated in Singapore;
“qualifying company”, in relation to an approved fund management company, means any company incorporated in Singapore which —
(a)
is listed or to be listed on any exchange in Singapore within one year from the date the approved fund management company is so approved; and
(b)
owns any offshore infrastructure asset or any asset used in an offshore infrastructure project, or debt securities or shares of any company that owns any offshore infrastructure asset or any asset used in an offshore infrastructure project;
“qualifying registered business trust”, in relation to an approved trustee-manager, means any registered business trust which —
(a)
is listed or to be listed on any exchange in Singapore within one year from the date the approved trustee‑manager is so approved; and
(b)
owns any offshore infrastructure asset or any asset used in an offshore infrastructure project, or debt securities or shares of any company that owns any offshore infrastructure asset or any asset used in an offshore infrastructure project;
“registered business trust” and “trustee-manager” have the same meanings as in the Business Trusts Act (Cap. 31A).
[34/2008]